A Chinese scholar Cheng Xizhong said Pakistan’s economic gains are linked to its COVID-19 lockdown policies and China Pakistan Economic Corridor (CPEC). Pakistan’s government, he said, has repeatedly vowed to increase exports and the best way to solve the issue of trade imbalance with other countries is to bring competitiveness in the products to be exported. Moreover, he recommended bringing innovation and excellence in research and development through which more irreplaceable products will be provided with strengthened footing in the international market.
The gratifying achievements of Pakistan’s economic recovery is attributed to the effective lockdown strategy to contain COVID-19, the government’s sound policies on economic development and the driving effect of the progressing CPEC.
According to China Economic Net, this was stated by a Chinese scholar Cheng Xizhong, who is Senior Fellow of the Charhar Institute and former defence attaché in South Asian countries.
He pointed out that recently, Prime Minister Imran Khan and relevant federal ministers of the Pakistani government have repeatedly stressed the need to further expand exports. Figures released by the government show that commodity exports have increased significantly in the recent year.
According to Prof. Cheng, at present, the Pakistani government is making efforts to further expand exports. In this regard, he suggested to further improve the competitiveness of Pakistani products in the international market.
According to him, constant innovation and the R&D of new products are taking an increasingly important position in government policies and enterprise strategies.
“By doing this, more irreplaceable products will be provided with strengthened footing in the international market,” he said.
He also pointed out that without a correct marketing strategy the goal of enhanced exports is hard to be achieved. For Pakistani producers, it is imperative to formulate a marketing masterplan that showcases their competitive advantages and improves the professionalism and market expansion ability of the marketing personnel.
He remarked that nNo country in the world has become a developed country only by exporting agricultural products and handicrafts.
