Latest news with #exportledgrowth
Arab News
06-08-2025
- Business
- Arab News
Pakistan partners with DP World to open zero-cost export mart in Dubai
ISLAMABAD: The government will establish Pakistan Mart, a commercial hub near Jebel Ali in the United Arab Emirates, to showcase made in Pakistan products to global buyers, the commerce ministry said on Wednesday, adding that DP World will build the facility at no construction cost to Pakistani stakeholders. The development comes as Pakistan pushes for export-led growth after stabilizing its crisis-hit economy with assistance from the International Monetary Fund and financial support from friendly nations. The Gulf region, particularly the UAE, offers critical advantages such as proximity, low freight costs and established Pakistani trade networks, making it a natural launchpad for this initiative. Pakistan Mart is expected to significantly support the exporters of the South Asian state by improving visibility, reducing logistical barriers and allowing direct market access in the region. The mart will also facilitate digital trade and is aimed at helping sectors like textiles, garments, surgical instruments, food, perishables and nutraceuticals. 'When this facility will be established, more than 500 Pakistani retailers, shopkeepers and those who are going to use the warehousing facility will get a window, a platform,' Commerce Minister Jam Kamal Khan said. 'They will showcase their products for Dubai market, UAE market and Gulf market. They will be able to export their products in other regions as well.' 'The good thing about this project is that unless you sell the product, there will be no tax or fees imposed on you,' he continued, adding 'there is a minimum rental for it.' According to the statement issued by the ministry, the project was presented to the commerce minister by a delegation comprising officials from Pakistan's National Logistics Cell (NLC) and DP World, led by NLC's director general. Kamal described the project as 'transformational' for Pakistani trade and directed all relevant agencies, including the Trade Development Authority of Pakistan (TDAP), to urgently coordinate with stakeholders and facilitate export-ready enterprises for tenancy at the new facility. The delegation urged the ministry to take a lead role in tenant selection, awareness campaigns and ensuring that exporters are equipped to capitalize on the opportunity. Pakistan Mart is expected to become a strategic platform for export diversification and economic diplomacy, reinforcing Pakistan's presence in key international markets. It is also expected to attract more Africans buyers to the Pakistani products.
Arab News
18-06-2025
- Business
- Arab News
Pakistan unveils draft tariff policy to drive export-led growth
ISLAMABAD: Pakistan on Wednesday unveiled a draft National Tariff Policy 2025-30 at a regulatory reforms conference, aiming to shift the country toward an export-led growth model by overhauling its trade tariff structure to boost industrial productivity, investment and competitiveness. The event was organized by the Board of Investment (BoI), and attended by senior government officials, diplomats and private sector representatives. The policy sets out sweeping reforms, including the phasing out of Additional Customs Duties (ACDs) within four years, elimination of Regulatory Duties (RDs) and the 5th Schedule within five years, and the creation of a simplified four-tier Customs Duty structure of 0 percent, 5 percent, 10 percent and 15 percent. Key sectors expected to benefit include textiles, engineering, pharmaceuticals and information technology, with the policy designed to lower production costs and attract businesses. 'The National Tariff Policy 2025-30 is designed to create a predictable, transparent and investment-friendly tariff structure,' said Rana Ihsaan Afzal, Coordinator to the Prime Minister on Commerce, at the conference. 'By facilitating duty-free access to raw materials, phasing out ACDs and RDs and supporting nascent and green industries, this policy paves the way for innovation, employment generation and sustained economic growth.' Afzal said implementation will begin with tariff reductions on approximately 7,000 tariff lines, mainly raw materials and intermediate goods, expected to deliver an estimated Rs200 billion ($700 million) in benefits to trade and industry. 'These reforms will enable Pakistan's industries to scale, compete globally and shift toward higher value-added exports,' he added. 'With these changes, we anticipate not just stronger GDP growth, but also increased employment, improved industrial productivity and enhanced investor confidence.' According to an official statement issued by the BoI, the participants lauded the government's efforts to streamline regulation and modernize trade facilitation, calling the draft policy a significant step toward Pakistan's long-term economic transformation.
