Exporters need to be vigilant in global markets: Razak Dawood

ISLAMABAD: Adviser to Prime Minister of Pakistan for Commerce and Investment, Abdul Razak Dawood has said that the exporters to be vigilant and aggressive to sustain their presence in the global markets.

On a social media website Twitter, the Adviser said,  “COVID-19 is an unprecedented crisis in recent human history with far-reaching implications to the global economy.”

Recent figures by World Bank were showing that the pandemic has caused Gross Domestic Products (GDP) contraction around the world, projecting that the major economies of West Japan, South Korea and the likes will post negative growth in GDP, he added.

Razak Dawood said that with the world returning to knockdowns, amid Covid-19 resurgence, the demand for our exports may also be affected.

The exports of Egypt, India, South Africa, Thailand and Malaysia have declined over the previous year while Bangladesh has managed to maintain slightly positive growth, he said.

Advisor said this may give rise to increased competition, hence, our exporters need to be more aggressive in this environment.

If there were any procedural hurdles in logistics or at the port, MOC should be informed for timely action and to avoid delays in a meeting of orders, he informed.

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