That the current US-China trade turmoil could be a boon for Pakistan's exporters is a fact. The trade war between world's two top economies has thrown up new opportunities as well as new challenges for Pakistan's businesspeople. State Bank of Pakistan (SBP) in its first quarterly report for fiscal year 2018-19 has given us a good news based on the research carried out by its team of competent professionals.

According to it, on a positive note, key food items, such as rice, seafood and soybean both seeds and oil, have come in the crosshairs, which offer an opportunity for Pakistan to reduce its trade deficit. On the other hand, the volatility in iron and steel prices in recent months after the imposition of tariffs by the US presents a challenge from Pakistan's perspective. But challenges too throw up opportunities to effectively reduce country's import bill. Our policymakers are therefore required to take all necessary steps in this regard with a view to helping and facilitating our importers as well as exporters.

Copyright Business Recorder, 2019