Exports to the United Arab Emirates amounted to $728
million in 2001-02, of which, Dubai accounted for $720 million. Dubai's
annual imports from Pakistan exceed those by the UK $659 million,
Germany $452 million, Netherlands $257 million, France $247 million and
Canada $175 million.
However, with sales of $2.25 billion, the US is the
largest export market for Pakistan. Whereas the exports to the United
Sates have stagnated at about the same level in the past two years,
Dubai's imports have risen from $341 million to $720 million in three
years ending June 2002. During this period, barring the UK, the exports
to major industrialized countries like France, Germany, Belgium, and
Canada show continuous decline.
The US and the European Union are, however, still the
most important markets, whose imports together accounted for $4.7
billion against Pakistan's total exports of $9.1 billion last year. The
Middle East region accounts for $1.5 of export earnings against $2.5
billion for EU.
UAE , particularly Dubai, re-exported 12.1 per cent
of its $34.5 billion imports in year 2000. These included Pakistani
goods. It also imports inputs for its textiles, garment and knitting
Percentage-wise, origins of imports by UAE are as
follows: 44.4 per cent from Asia, 35.5 per cent from Europe and 11.1 per
cent from America.
POSITIVE CHANGE IN IMPORT STRUCTURE
Emergence of Pakistan on the world wheat export map,
a slight fall in international oil prices and stabilization of
dollar-rupee parity in post-September 11, 01 is bringing a gradual
positive change in Pakistan's import structure which looks sustainable.
A detailed analysis of 10 months import during July
01 to April 02 shows that share of consumer goods has fallen appreciably
with a simultaneous rise in import of capital goods, raw material for
Pakistan's engineering industry and also raw material import for
Pakistan's consumer industry.
Capital goods now constitute 27.4 per cent of
Pakistan's total import of about Rs509 billion. Official figures show
that import value of capital goods jumped from more than Rs128 billion
to Rs139 billion.
TEXTILE VALUE IN US DOWN BY 28PC
In these times when Pakistan textile industry is
operating at its potential best in terms of quality and quantity, it is
beset with serious low value problem in the US export market where
average unit price has gone down by about 28 per cent to 1.16 dollars in
January to August 9 period this year as against 1.61 dollars obtained in
same period in 2001.
Latest official figures show that the US remains the
single largest market to absorb Pakistan's textile quota items in terms
of value from where exporters fetched 610.71 million dollars in last
more than seven months. This is roughly 50 per cent of the total 1.29
billion dollars earned from all the textile export quota countries.
Overall, the total textile exports to the quota
countries — USA, Canada, EU and Turkey — has gone up to 1.29 billion
dollars during January to August 9 this year. In same period in 2001
total textile exports to these countries was worth 1.26 billion dollars.
ECC ALLOWS TRADERS TO IMPORT FUEL OIL
The Economic Coordination Committee of the Cabinet (ECC)
on Thursday allowed the import of fuel oil by the traders.
The ECC which was presided over by Minister for
Finance Shaukat Aziz, however, said the import of fuel oil would be
subject to quality check, import schedule clearance by OCAC and the
conditions laid down by the Ministry of Petroleum. Bulk import of diesel
and furnace oil by consumers such as Railways and Wapda was also
According to an official announcement, it was decided
to allow duty free import of CKD kits for buses, whether diesel or CNG
under the regulatory control of Small and Medium Enterprise Development
Authority (Smeda). The import of Polyester Staple Fibre under the Duty
and Tax Remission Rules for Exports (DTRE) regime will not be
PAKISTAN, JAPAN BUSINESS EVENTS
The Export Promotion Bureau (EPB) will organize a
general trade delegation to Japan in the third week of September 2002,
to create a greater understanding among Pakistani exporters about
PAKISTAN, TURKEY TRADE NEEDS TO BE DIVERSIFIED
Pakistan and Turkey should dispense with
over-dependence on textile and diversify products in order to boost
bilateral trade, Commerce Minister Abdul Razak Dawood stressed on
While discussing various proposals on mutual trade
ties with the Ambassador of Turkey, H. Kemal Gur, according to an
official source, he suggested the exploration of avenues other than
textiles such as leather products, surgical goods, sports goods, fresh
and dry fruits, furniture, fans, air conditioners, marble, handicraft,
pharmaceuticals, cement, etc.
WHEAT TEAM TO VISIT EGYPT, MOROCCO
A wheat delegation comprising private and public
sector members will be leaving for Egypt and Morocco next month to
explore government-to-government as well as private sector export deals
with both the countries.
The chairman of Trading Corporation of Pakistan
(TCP), Syed Masood Alam Rizvi will lead the team. There will be private
sector exporters and officials of government of Punjab who would be
working as supplier in case any deal is finalized.
There is a great potential of boosting two-way trade
between Islamabad and Ottawa, said leader of Pakistani trade delegation
which is currently visiting Canada.