Pakistan getting economic result of sound policies: Chinese scholar

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enewspaper.com.pk/ Pakistan getting economic result

BEIJING, (APP): The gratifying achievements of Pakistan’s economic recovery were 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).

These views were expressed by Cheng Xizhong, Visiting Professor at Southwest University of Political Science and Law and Senior Fellow of the Chahar Institute in his article published by China Economic Net (CEN) on Monday.

He said at present, the Pakistani government was making efforts to further expand exports.

To improve the competitiveness of Pakistani products in the international market, he proposed that first, regarding product innovation, products that remain unchanged would be driven out of the market sooner or later.

Therefore, he added, constant innovation and the Research and Development of new products were taking an increasingly important position in government policies and enterprise strategies. By doing this, more irreplaceable products would be provided with strengthened footing in the international market.

Second, on marketing ability, marketing was often regarded as the soul of exports. Without a correct marketing strategy, the goal of export was hard to be achieved.

For Pakistani producers, it was imperative to formulate a marketing master plan that showcased their competitive advantages and improved the professionalism and market expansion ability of the marketing personnel.

Third, in terms of product quality, high-tech products with high added value and profit should be given preference for production and export, and more local brands were anticipated so as to augment the presence of Pakistani products in the international market.

Fourth, concerning information management, when companies master such information as the production, sales, after-sales, and customer feedback of products, they could respond in time when there were problems or complaints, thus mitigating their impact to the minimum.

Fifth, after-sales customer service was an essential part of the export process. Just as a saying goes, “maintaining an old customer is equal to developing 10 new customers.” Therefore, customer service and after-sales service deserved great attention by always putting customers first and winning their trust with sincerity and integrity.

The Chinese scholar said history said that the modernization of a country mainly depended on the improvement of advanced technology and the export of industrial products.

No country in the world had become a developed country only by exporting agricultural products and handicrafts. For example, before China’s reform and
opening up, it mainly exported agricultural products and ready-made clothes.

Now China had become the largest importer of agricultural products in the world, and the export of advanced industrial products had accounted for more than 90 percent of the total.

The production of these outbound commodities was based on advanced technology and modern industry. In this regard, there was a huge potential to be tapped in the Special Economic and Technological Zones (SEZs and STZs), he added.

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