ISLAMABAD  - Federal Minister for Commerce Khurram Dastgir Khan has said that the government will enhance exports volume to $35 billion by 2018 from current $24 billion through three-year Strategic Trade Policy Framework (STPF) 2015-18.

Speaking at a meeting of National Assembly’s Standing Committee on Commerce, which met under the chairmanship of Siraj Muhammad Khan on Thursday, the minister said that his ministry had formulated the STPF 2015-18.

“The Ministry of Commerce has actively been engaged in consultations with the business community and relevant government ministries on the formulation of the STPF,” Dastagir added.

He said the STPF would help promote competition for exports among the companies, and would convert factor-driven economy’ into one driven by efficiency and innovation’. “The policy would also focus on increasing share in regional trade,” he added. He enumerated pillars of the policy, which are product sophistication and diversification, market access and institutional development.

The committee unanimously passed the “Template of Memorandum for Trade Organisation Bill”, The Public Sector Development Programme (PSDP) for the year 2016-17

The minister also told the committee that in line with the vision of Prime Minister Nawaz Sharif, his ministry was actively pursuing an increase in bilateral trade with Afghanistan and lran.

The meeting was attended by the following members, namely: Chaudhry Muhammad Shahbaz Babar. Chaudhry Asad-ur-Rahman. Muhammad Pervez Malik, Mian Muhammad Rasheed. Tahira Aurangzeb, Shahzadi Umerzadi Nazir Ahmed Bughio, Mussarat Ahmadzeb, Alhaaj Shah Jee Gul Afridi, Dr Fouzia Hameed, along with ministry’s secretary and other senior officers.