Pakistan sets export target of 12 billion dollars

ISLAMABAD, July 19 (AFP) - Pakistan has set itself the target of exporting 12.1 billion dollars worth of goods over the next two years, the country's commerce minister said Saturday.

"The new trade policy focuses on encouraging export-oriented foreign investment," Humayun Akhtar Khan said on state-run Pakistan Television.

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Under the new policy, imports have been projected to be at 12.8 billion dollars and the trade deficit under one billion dollars, Khan said.

"The new trade policy is based on the optimism derived from our high export performance last year," he said.

"We not only crossed the export target of 10.4 billion dollars that had eluded us in the preceding years, but even surpassed the target reaching a level of 11.03 billion dollars for the first time in our history."

The textile sector fetched 7.17 billion dollars or 67 percent of Pakistan's total exports, Khan said.

"Textiles posted the largest increase of 24 percent over (the) previous year."

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