Business plan

‘TDAP will finalize the annual business plan in consultation with the FCCI’ – Business & Finance

FAISALABAD: The Trade Development Authority of Pakistan (TDAP) will finalize its annual business plan in consultation with the Faisalabad Chamber of Commerce and Industry (FCCI) to make it progressive and result-oriented, Rana Shahzad Ahmad Khan says , Managing Director TDAP Punjab.

During a meeting with FCCI President Atif Munir Sheikh, he discussed in detail the inherent potential of Faisalabad and said that a comprehensive strategy would be developed for the diversification of this city’s exports in addition to exploiting the opportunities for export available in traditional and non-traditional sectors. sectors.

Recognizing the industrial, commercial, trade and export advantage of this vibrant city, he said that we must involve the FCCI and other local business bodies to boost the exports of this city. He said that we should change our strategy and discuss its activities which may have local, regional, national or international dimensions.

He said that TDAP will organize a trade and investment conference and potential buyers from all over the world will be invited to attend. He mentioned the African model and said that TDAP had organized a “Made in Pakistan” exhibition in Africa, but its aim was to showcase engineering products.

He said that TEXPO would be organized in Karachi during the month of August.

“It’s a regular feature, but we plan to combine it with other non-traditional items so that a wide range of exportable surplus can be showcased at this event,” he said.

Trade agents have been posted in different potential markets and we need to involve them to enter these countries for sustained exports, he added.

He also highlighted the need to explore non-traditional markets to expand our export portfolio. He said webinars and online conferences could also be organized to educate young start-ups on emerging trends and market potentials.

Atif Munir Sheikh, chairman of the FCCI, said he was working earnestly to transform Faisalabad from textiles into a multidimensional export city by encouraging other segments of the economy. He particularly mentioned the information technology (IT) sector and said that it recorded a robust growth of 47% and that we must focus on it because there is no shortage of talented IT experts.

In particular, he mentioned the success of the Pakistan Economic Conference (PEC) organized by the FCCI and said that the Prime Minister was to address its closing session but that due to political instability, it had been postponed.

He said that we have prepared 2-page recommendations on the economy exclusively for the Prime Minister. He also mentioned the new industrial zones being developed to attract maximum FDI through technology transfer. He said 65 overseas companies have already established their units while many more are in the pipeline.

He said that with the colonization of these industrial areas, the industrial landscape of Faisalabad would be entirely changed. He said that our textile exports recorded an increase of 28% but this is quite insufficient because our share of the EU market is only 1%. He said that we need to focus on other sectors and in this regard; PEC will play a major role. He also appreciated the industry incentive program and said it was announced at the special request of the FCCI and that our 90% recommendations were included in it.

Copyright Business Recorder, 2022