ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet has approved the formation of a National Export Development Board (NEDB).
The board will be chaired by Prime Minister (PM) Imran Khan and will also include ministers, exporters, investors and the business community, the adviser said this on his official Twitter account.
In this regard, Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood, on Wednesday said that the NEDB would be the main forum to discuss the strategy, incentives and removal of business hurdles.
Meanwhile, the Ministry of Commerce and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Germany signed an Implementation Agreement in pursuance of the Memorandum of Understanding (MoU) earlier signed between Economic Affairs Division (EAD) on behalf of Pakistan and Germany on December 23, 2020, in which the foreign country agreed to support two projects and one is on “improvement of Labor, Social and Environmental Standards in Pakistan’s Textile Industry”.
According to officials under this programme, the Federal Republic of Germany would provide GIZ up-to Euro 7,500,000 as German contribution for a period of three years. The signing ceremony was attended by Dawood, Dr Sohail Rajpoot, special secretary, Ministry of Commerce, from Pakistan’s side and Romina Kochius, principal adviser GIZ, from Germany.
As per the details, the technical cooperation on this project aims to increase value-addition and competitiveness, and foster innovation by synergising the environmental, social, and economic dimension of sustainability in the textiles and apparel industry.
Dawood met Romina and appreciated the government of Germany and her for the valuable support in respect of technical cooperation to Pakistan’s textiles and apparel industry in order to improve labour conditions, compliance standards and resource efficiency. The ceremony ended with notes of thanks from both sides.
