By Omer Bilal Islamabad, Nov 03 (INP-WealthPK) Pakistan’s trade performance has come up with a good result, as exports to the neighbouring and Central Asian countries continue to outpace imports due to the government’s prudent policies adopted in the wake of the Covid-19 pandemic. According to the latest statistics of the Ministry of Commerce, exports to China, Afghanistan, Iran, Turkey, and the Central Asian Republics grew by 35 percent to $938 million in the first quarter (Q1) of the Fiscal Year 2021-22 compared with $694 million in the first quarter of the Fiscal Year 2020-21. Exports related to the Information Technology (IT) and IT-enabled service increased to $635 million in the first quarter (July-September) of the Fiscal Year 2021-22 compared to the export value of the last fiscal year, which stood at $445 million, showing an increase of 42% in growth. In a statement, Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood said the government was taking concrete steps to further increase the growth of the IT sector with the consultation of stakeholders. “I am optimistic that we will cross the IT exports target for FY 2021-22,” he said, adding that the exports of seafood, petroleum, dry fruits, spices, minerals, woven fabric, knitted garments, sports goods, cutlery & dates had also increased. He urged exporters to aggressively market their products in the regional markets for increased exports. The net Foreign Direct Investment (FDI) increased by 16 percent on a year-on-year basis and by 108 percent on a month-on-month basis in the Fiscal Year 20-21. The total investment was $236 million in September 2021 compared with $203 million in Sep 2020. In the upcoming months, more FDI is expected in different sectors, creating more employment opportunities. According to the provisional figures compiled by the Pakistan Bureau of Statistics, exports from Pakistan in September 2021 amounted to Rs404,949 million as against Rs368,814 million in August 2021 and Rs313,019 million in September 2020, showing an increase of 9.80% over August 2021 along with an increase of 29.37% over September 2020. The main exports in September 2021 were knitwear (Rs65,215 million), readymade garments (Rs46,424 million), bed wear (Rs46,241 million), cotton cloth (Rs31,839 million), cotton yarn (Rs16,004 million), rice (Rs15,409 million), towels (Rs13,561 million), makeup articles (Excl. towels & bedwear) (Rs10,768 million), Basmati Rice (Rs8,612 million) and art, silk & synthetic textile (Rs6,511 million). The economic cooperation between Pakistan and neighboring countries for better transit trade opportunities will help connect South Asia to Central Asia. The export growth is expected to boost domestic employment in Pakistan and provide foreign exchanges. A better trade agreement with the countries will improve Pakistani goods’ access to their markets besides addressing the problem of smuggling. The agreement should include a clear action plan to rationalize tariffs and eliminate double taxation in the region to facilitate investment in the respective countries. The importance of modern infrastructure, including road and rail, for trade relations, cannot be ignored.