Cabinet Approves the Strategic Trade Policy Framework (STPF) 2020-25
Posted by PROPK STAFF
The Federal Cabinet today approved the Strategic Trade Policy Framework (STPF) 2020-25. The STPF 2020-25 aims to enhance the ability of Pakistani enterprises to produce, distribute and sell products and services as or more efficiently than their competitors.
The following priority sectors have been identified under the STPF after studying the international demand trends on one hand, and on the other, the capacity and capabilities of different export sectors of Pakistan.
| Traditional Sectors | Developmental Sectors |
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The main focus of STPF will be as follows
- Geographical & Product Diversification
- Manufacturing cost reduction through tariff rationalization
- Pursuit of Regional Connectivity and Look Africa policy
- Enhancement of market access through FTA/PTA
- Facilitation of logistics and tracking under TIR and enhancement of regional connectivity for access to Central Asian Republics (CARS), Turkey, and Iran, through them to Europe and Russia.
The STPF is dynamic in nature and will be subject to course correction based on constant monitoring and evaluation. There shall be an institutionalized mechanism for robust monitoring and implementation of the STPF in order to minimize policy implementation gaps, which have traditionally remained a weak link due to multi-organizational roles in the export ecosystem.
In order to oversee the implementation of STPF 2020-25, a cross-functional National Export Development Board (NEDB) has already been constituted under the chairmanship of the Prime Minister, comprising of senior public sector officials of relevant organizations and private sector representatives. Regular meetings of the NEDB are being held in order to ensure the implementation of various policy measures.
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