The gratifying achievements of Pakistan’s economic recovery are attributed to the effective lockdown strategy to contain COVID-19, the sound policies of the government on economic development, the diligence and wisdom of all Pakistani people, and the driving effect of the progressing China-Pakistan Economic Corridor (CPEC).
According to China Economic Net, this was stated by a Chinese scholar Cheng Xizhong, who is Senior Fellow of the Charhar Institute and former Defense Attache in South Asian countries.
He pointed out that recently, Prime Minister Imran Khan and relevant federal ministers of the Pakistani government had repeatedly stressed the need to further expand exports. Figures released by the Pakistani government show that commodity exports have increased significantly in the recent year. In addition, inflation is eased, remittance inflows hit a new high, the fiscal deficit improved to 7.3% of GDP, and the current account deficit shrank to 0.6 percent of GDP, the lowest in a decade.
According Professor Cheng, at present, the Pakistani government is striving to further expand exports. “In this regard, I would like to propose the following suggestions in a bid to further improve the competitiveness of Pakistani products in the international market.
First, regarding product innovation, as we know, products that remain unchanged will be driven out of the market sooner or later; therefore, constant innovation and the R&D of new products are taking an increasingly...
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