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November 15, 2024

 

World Bank to Help Realize $60 Bn Export Potential

Islamabad: The Ministry of Commerce and the World Bank have agreed to form a joint working group on trade to capitalize on the country’s true export potential.

The understanding was reached during a meeting of Commerce Minister Jam Kamal Khan with a team from the World Bank. Both sides agreed that the working group would meet periodically to advance the goal of realizing Pakistan’s export potential of $60 billion.

An official announcement said both sides discussed Pakistan’s export reform agenda, focusing on strategies to enhance export competitiveness and streamline enabling policies.

The discussion also addressed how the World Bank could support these initiatives under the broader country program.

Mr Kamal highlighted the whole-of-government approach to export enhancement, which promotes a unified policy framework to improve competitiveness and the Ease of Doing Business for exporters.

This strategy emphasizes export-led growth by providing crucial enabling factors such as financing, liquidity support, reduced input costs, and regulatory facilitation to empower Pakistan’s export sector. - Dawn

Courtesy Dawn

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