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Pak exports mainly target European states: FPCCI research

RECORDER REPORT

KARACHI: The major inclination and flow of Pakistan's exports have always remained towards the West, particularly Europe. A substantial portion of our exports are to those countries which are under three gigantic regional alliances i.e. G-8, European Union and Nafta.

This is the conclusion of a research study compiled by the Federation of Pakistan Chambers of Commerce and Industry. The booklet on 'trade between Pakistan and major regional economic groupings,' which was launched by the Finance Minister, Shaukat Aziz, indicates that our exports to the East and South East Asia have remained at a very low level.

The alliances formed by the South and East Asian countries include Asean, ECO, Saarc and D-8. It further concludes that due to lack of study of these markets by our policy makers and our continuous inclination towards the West, we have not been able to curtail our imports from Europe and other Western countries.

The study contains profiles of nine major economic groupings , namely Asean, G-8, EU, Nafta, GCC, ECO, Saarc and D-8 and Indian Ocean Rim, besides giving updated trade figures, supported by graphics, with the members of each groupings.

The study also gives useful information such as items being exported to and imported from 60 countries which are members of these nine economic groupings, addresses and contact numbers of Pakistan trade offices, chambers of commerce and diplomatic missions of the countries based in Pakistan.