Gilgit-Baltistan: SMEDA Proposes Promotion of Trade with China Via GB

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Karachi (Monitoring Desk): Lahore—Small and Medium Enterprises Development Authority (SMEDA) has proposed promotion of trade with China through Gilgit-Baltistan, with Iran through Quetta, with Afghanistan through Quetta/Peshawar and with India through Lahore for effective implementation of the Strategic Trade Policy Framework 2012-15.

Establishment of special economic zones in the border areas has been proposed as one of the recommendations submitted by SMEDA to the Ministry of Commerce regarding Strategic Trade Policy Framework Supplement 2013-14, a spokesman for SMEDA said here on Tuesday.

The authority also recommended a sector development strategy for logistics to be implemented in collaboration with NTTFC and SMEDA.

In its proposals, SMEDA expressed its support to the Ministry of Commerce for establishing institutional framework announced in STPF 2012-15 for promoting trade and commerce, especially regarding taskforce for facilitating development of e-commerce, leather promotion council, export-import bank and service trade development council.

The Strategic Trade Policy Supplement 2013-14 is being developed as a roadmap for effective implementation of the Strategic Trade Policy Framework (STPF 2012-15).

Appreciating the comprehensive approach adopted by the Ministry of Commerce, SMEDA expressed SMEs concerns regarding regulations and procedures to avail the announced incentives that are cumbersome as SMEs neither have the time, nor the financial strength to benefit from these incentives at times.

Procedure for exports by SMEs in terms of documentation etc must be simplified vis-a-vis those required by large enterprises and related information should be widely disseminated, he added.

SMEDA has also proposed inclusion of additional monetary concessions, for selected high growth sectors, such as gems & jewellery that may also be included in the list of sectors for which mark-up support of 2% on LTFF on purchase/import of machinery.

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