Anjum Nisar says erly GCC trade pact can unlock Gulf markets for Pakistani exporters
\n Islamabad
\nChairman of the FPCCI\u2019s Businessmen Panel (BMP) and former FPCCI president Mian Anjum Nisar has called for an immediate and result-oriented strategy to secure maximum benefits from the proposed Pakistan-Gulf Cooperation Council (GCC) Free Trade Agreement, warning that improved diplomatic relations and political commitments alone cannot strengthen the country\u2019s economy without a substantial increase in exports.
\nReacting to Pakistan\u2019s renewed efforts to expedite the signing of the GCC Free Trade Agreement during a meeting between Federal Commerce Minister Jam Kamal Khan and newly appointed Saudi Ambassador Dr Rajeh Albugamy, he said Pakistan must translate its longstanding relations with Saudi Arabia and other Gulf countries into concrete trade, investment and industrial opportunities.
\nAnjum Nisar said the proposed agreement represented an important opportunity for Pakistan to expand its presence in one of the world\u2019s most economically significant regions. However, he stressed that the country needed to approach the agreement with a clear commercial strategy instead of treating it merely as another diplomatic achievement.
\nHe pointed out that Pakistan had enjoyed longstanding political, religious and economic relations with Saudi Arabia and other GCC members, including the United Arab Emirates, Qatar, Kuwait, Bahrain and Oman. Despite these close relations, the country\u2019s export performance in the region remained below its actual potential, reflecting weaknesses in industrial competitiveness, market diversification and trade facilitation.
\nHe cautioned that Pakistan could not afford to enter regional trade arrangements without a clear strategy to improve its export performance and address the persistent trade imbalance with Gulf economies. The widening trade deficit with major regional partners underscored the urgency of moving towards an export-oriented approach and reducing excessive dependence on imports.
\nThe BMP chairman said the Gulf region should not remain merely a source of imported energy, petroleum products and other essential commodities but must become a major destination for Pakistani manufactured goods, agricultural products and value-added exports.
\nHe said Pakistan possessed considerable production capacity in textiles, garments, leather products, surgical instruments, sports goods, pharmaceuticals, engineering products, processed food and agricultural commodities. However, the country had not been able to fully exploit the purchasing power and growing demand of Gulf markets because of high production costs, inconsistent policies, limited marketing networks and insufficient attention to international quality standards.
\nAnjum Nisar emphasised that the government must identify products with the greatest export potential in each GCC country and develop a targeted market-access strategy. Rather than relying on traditional exports, Pakistan should encourage manufacturers to introduce higher-value products, improve packaging, adopt modern production technologies and develop internationally competitive brands.
\nHe said Saudi Arabia\u2019s Vision 2030 offered particularly significant opportunities for Pakistani businesses. The kingdom\u2019s economic diversification programme was generating demand for a wide range of products and services, creating possibilities for cooperation in manufacturing, construction-related industries, food processing, engineering, logistics and other commercial sectors.
\nPakistan\u2019s industrial and agricultural capabilities could complement Saudi Arabia\u2019s investment requirements and economic transformation, he added. However, Pakistani businesses would need a more proactive approach to establish partnerships, participate in supply chains and develop long-term commercial relationships with Saudi companies.
\nHe stressed that bilateral economic cooperation should move beyond conventional trade and include joint ventures, industrial investment, technology transfer and collaboration in production. Pakistani companies should be encouraged to establish business partnerships with Saudi investors and explore opportunities for manufacturing and supplying products to the wider Gulf region.
\nThe BMP chairman said the private sector must be given a meaningful role in shaping trade policies and identifying commercial opportunities. Government departments alone could not determine the actual requirements of exporters and manufacturers; regular consultations with chambers, trade associations and industrial representatives were necessary to ensure that the agreement addressed practical business concerns.
\nHe also warned that preferential market access would have limited value if Pakistani manufacturers continued to face high energy tariffs, expensive financing, heavy taxation and rising transportation and logistics costs. These structural problems were directly affecting production costs and making it difficult for local businesses to compete with manufacturers from other countries.
\nAccording to him, Pakistan urgently needed to improve its overall business environment, ensure policy consistency and reduce unnecessary regulatory barriers. Exporters required predictable taxation, affordable energy, easier access to working capital and a simplified regulatory framework to expand production and fulfil larger international orders.
\nHe said the government should also pay special attention to small and medium enterprises (SMEs), which had significant potential to contribute to export growth but often lacked the financial resources, technical expertise and international marketing networks required to enter foreign markets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Anjum Nisar says erly GCC trade pact can unlock Gulf markets for Pakistani exporters Islamabad Chairman of the FPCCI\u2019s Businessmen Panel (BMP) and former FPCCI president Mian Anjum Nisar has called for an immediate and result-oriented strategy to secure maximum benefits from the proposed Pakistan-Gulf Cooperation Council (GCC) Free Trade Agreement, warning that improved diplomatic […]<\/p>\n","protected":false},"author":2,"featured_media":522716,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-575472","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n