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Oct 23 - 29, 2000

Only 12 countries absorb most exports

Pakistan is dependent on only twelve countries to absorb most (66 to 68%) of its exports, while the remaining 31 to 34% are destined for other countries, an analysis of the official foreign trade statistics for the period '94-'99 shows.

United States emerges as the biggest trade partner of Pakistan. In '98-99, it alone accounted for as much as 21.8% of total exports. In that year, exported merchandise worth $1696m was sent to that country.

The statistics indicate the proportion of exports to the USA is always on the upswing. The US market share in Pakistan's total exports was 16.2% in '94-95, 15.5% in 95-96, 17.7% in 96-97 and 20.5% in 97-98.

All the other 11 countries are way behind USA. The second biggest market in '98-99 was Hong Kong. With exports amounting to $549, it accounted for 7.1% of total exports in '98-99.

In 94-95, HK's share was 6.6%, as compared to UK which occupied the pride of place as No. 2 with a share of 7.1%. But in 95-96, HK became the importer of 9.1% of Pakistani exports and its share went up to 9.4%. In the subsequent two years (97-98 and 98-99), it levelled off to 7.1%.

The UK shared with Germany the third position with 6.6% each in 98-99. In the case of UK, this has descended from 7.2% in 96-97. As regards Germany, it accounted for 7.00% in 94-95, improving somewhat to 7.5% in 96-97.

The analysis makes short shrift of the image of Japan as a top-notch trade partner of Pakistan, so far as exports are concerned. Its share stood at 3.5% in 98-99, denoting a sharp fall from 6.7% in 94-95.

The contribution of the remaining seven countries in 98-99 has been rather static, although official circles may use the adjective "stable" for this situation, e.g.: Dubai: 5.4% (from 4.0% in 94-95); France: 3.2% (from 3.2% in 94-95); Netherlands: 3.1% (from 3.2% in 94-95); Italy: 2.7% (from 2.9%); South Korea 2.5% (from 3.3%); Belgium 2.4%; (from 2.6%); and Saudi Arabia: 2.4% (from 2.7%).

Rice exports increase by 108 per cent

The export of rice has registered a rise of 108 per cent during July-October 2000 to 359,256 tons over the same period last year.

Controller Quality Review Committee (QRC) Ikramullah Chaudhry said on Tuesday that during the same period last year the inspection cell of QRC had certified 172,995 tons of rice exports consignments.

"This year QRC certified 359,256 tons of rice consignments till October 14, which is higher by 186,261 tons over previous year", he said.

He said 203,063 tons of the total certified rice was IRRI-6, 98,000 tons basmati, 32,000 tons IRRI-9, 22,461 tons of blended, 3,732 tons of Pk-386.

"Last year Pakistan exported 1.75 million tons of rice of which QRC certified 1.636 million tons", he added.

Exports to RoK may touch $700m mark

Pakistan's exports to South Korea during first half of this year registered 35 per cent growth on a trade volume of $350 million thus raising the hope of achieving all time high two-way trade volume of $700 million.

This was stated by the Ambassador of the Republic of Korea Yoon Jee-joon at a press briefing held at the residence of Korean Consul General Lee See-young on Tuesday.

The Korean envoy said that after witnessing reversal in two-way trade during 1996-97, signs of recovery were noted last year (1999) when Pakistan's exports to Korea increased by 50 per cent on total two-way trade of $600 million.

PS sells Rs4.5 billion products

The Chairman of Pakistan Steel Colonel (Retd) Afzal Khan is convinced that record sale of PS products amounting to Rs4.45 billion in the first quarter of 2000-2001 (July to September this year) indicates a revival of construction business and domestic industry where these goods are the vital inputs.

New shipping service

General Shipping Agencies have launched a new service through Conti Lines for transportation of rice to West African ports like Douala, Dakar, Lagos, Tema, Freetown, Conarky, Abidjan etc.

MoU with Indonesia signed

Private Sectors of Pakistan and Indonesia on Wednesday inked a memorandum of understanding to promote bilateral trade between the two countries.

The Memorandum of Understanding signing, witnessed by the Minister of Commerce and Industry Abdul Razzaq Dawood and Indonesian Minister of Industry and trade Luhut B. Pandjaitan, will help enhance trade volume by improving imports and exports between the two countries.

Goods imported under ATTA

Kabul has imported Rs2.823bn worth of duty-free goods under Afghan Transit Trade Agreement (ATTA) with Pakistan in the first quarter of 2000-2001.

Officials figures reveal that about 38% of these goods included sugar of various origins (Rs684m) and 11 varieties of tea (Rs337.388m).

The rest of goods pertain to consumer, electrical and vehicles etc categories. The imported items in July-Sept contains other consignments for Afghanistan, especially imported for meeting the food, health and winter needs.

Phenazone (antipyrin) and its derivatives with penicillin and acid structure etc of Rs104.24m were imported in this period. Perfumes, toiletries, room and air-fresheners etc of Rs 81.771 million were also imported in the same period.

Offers in euro to Iraq

The Export Promotion Bureau has advised Pakistani companies dealing with Iraq to submit their offers preferably in European currency Euro.

The EPB said on Tuesday that Iraqi Ministry of Trade had decided not to consider any offer if estimates are quoted in US dollar.

Call to boost trade ties with Russia

Russian ambassador to Islamabad, Edward Shevchenko has said that in view of the changed economic and political situations both in Russia and Pakistan there is an increasing need that the two countries should work for mutual prospects of trade and investment.

He said though in the past the trade relations between the two countries could not flourish due to geo-political situation in the region.