Pakistan is establishing its first-ever Amazon Fulfillment and Facilitation Centre in Multan after Eid ul Azha to allow small and medium enterprises (SMEs) businesses to market their products worldwide and boost the country’s exports.
According to the Pakistan Bureau of Statistics (PBS), Pakistan’s merchandise exports in the fiscal year 2020-21 grew by 18 percent from $21.4 billion a year earlier to $25.3 billion this year, and the imports also grew from $44.5 billion a year earlier to $56.3 billion this fiscal year, creating a trade deficit of $31 billion.
Pakistan needs to enhance its exports and contain its imports in order to manage this trade deficit.
The establishment of the Amazon center in Multan will help to improve Pakistan’s exports as the youth and SMEs can avail it to immediately sell their products worldwide. This will also ultimately facilitate the reduction of the trade deficit. The trade deficit can be more effectively reduced by increasing exports rather than minimizing imports because a developing country aiming at better economic growth cannot afford to contain imports of goods and services.
The setting up of the Amazon Fulfillment and Facilitation Centre and the establishment of the National Export Development Board under the chairmanship of Prime Minister Imran Khan, as well as the launch of the Export Facilitation Scheme 2021, will help to increase Pakistan’s exports and grow its economy.
Courtesy: Pro Pakistani