After Eid ul Azha, Pakistan will open its first Amazon Fulfillment and Facilitation Center in Multan, allowing small and medium companies (SMEs) to advertise their products globally and enhance the country’s exports.
According to the Pakistan Bureau of Statistics (PBS), Pakistan’s merchandise exports increased by 18 percent in fiscal year 2020-21, from $21.4 billion to $25.3 billion, while imports increased by the same amount, from $44.5 billion to $56.3 billion, resulting in a $31 billion trade deficit.
In order to manage the trade deficit, Pakistan must increase exports while reducing imports.
The opening of an Amazon centre in Multan will assist to boost Pakistan’s exports by allowing young people and small businesses to sell their goods directly around the world. This will also help to reduce the trade imbalance in the long run. Because a developing country seeking for higher economic growth cannot afford to control imports of goods and services, the trade imbalance can be more efficiently lowered by expanding exports rather than minimising imports.
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.
Source: propakistani
