Pakistan’s Strategic Trade Policy Framework (“STPF”) 2020-25 was approved by the Federal Cabinet, the objective of which is to enhance the efficiency, distribution and penetration of Pakistani enterprises, in comparison to their competitors.
Pakistan’s Ministry of Commerce has identified priority sectors (viz textile and apparel, leather, surgical instruments, sports goods, carpets, rice and cutlery) under the STPF after studying the international demand trends and the capacity and capabilities of sectors in Pakistan. Other sectors that are included are engineering goods (including auto parts), pharmaceutical, marble and minerals, processed food and beverages, footwear, gems and jewelry, chemicals, meat and poultry, fruits and vegetables and seafood.
The main focus of the STPF is
i) geographical and product diversification
ii) manufacturing cost reduction through tariff rationalization
iii) pursuit of regional connectivity and “Look Africa” policy
iv) enhancement of market access through the FTA/PTA
v) facilitation of logistics and tracking under TIR and enhancement of regional connectivity for access to the Central Asian Republics (CARS), Turkey and Iran, to Europe and Russia.
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