After Eid ul Azha, Pakistan will open its first-ever Amazon Fulfillment and Facilitation Center in Multan, which will allow small and medium-sized firms (SMEs) to promote their products internationally and improve the country’s exports. The center would be the first of its kind in the world.
Accordng to the Pakistan Bureau of Statistics (PBS), Pakistan’s merchandise exports increased by 18 percent in fiscal year 2020-21, from $21.4 billion a year earlier to $25.3 billion this year. At the same time, imports increased by the same amount, from $44.5 billion a year earlier to $56.3 billion this fiscal year, resulting in a $31 billion trade deficit with the United States.
In order to handle this trade deficit, Pakistan must increase its exports while keeping its imports under control, as previously stated.
The development of an Amazon center in Multan will aid in the expansion of Pakistan’s exports, as it will allow the country’s young and small and medium-sized enterprises (SMEs) to sell their products quickly to customers around the world. This will also, in the long run, aid in the elimination of the current account deficit. Because a developing country seeking to improve economic growth cannot afford to limit imports of goods and services, increasing exports rather than decreasing imports will be more successful in reducing the trade imbalance.
The establishment of the Amazon Fulfillment and Facilitation Center, as well as the establishment of the National Export Development Board under chairmanship of Prime Minister Imran Khan, and the launch of the Export Facilitation Scheme 2021, will all aid in the expansion of Pakistan’s exports and the development of the country’s economy.