"Pakistan has potential resources and capabilities to boost economic and trade opportunities in the country, but most resources are untapped. ITC will surely prove as a milestone that would ensure sustained economic growth through effective strategies and knowledge creation."
Institute of Trade and Competitiveness (ITC) is a project of the prestigious University of Management & Technology.
After the implementation of WTO regime the global trade has become more progressive and competitive. It was however, quite unfortunate that Pakistan has failed to respond to the challenges and opportunities of global free trade and investment policies. The main reason of this failure is that Pakistan lacks a think-tank that would collaborate with the industrial sector and engage in applied research to identify the loopholes in its prevalent trade policies and procedures. Thus, to promote specialization, competitive advantage and national competitiveness as strategy to integrate into global trade, investments and technology transfer opportunities, ITC has undertook the vital task of preparing businessman, managers, engineers and economic planners, traders and commerce men to develop a critical insight into global system of production and value creation. We aim at reviving Pakistan’s macroeconomic environment by achieving greater productivity and competitiveness in industrial and service sectors. These objectives are planned to be achieved by linking capabilities among industry and service sector on value chains and cluster level for attracting FDIs and technology transfer, innovations in the Pakistan. The outcomes of these activities are targeted to increase the export potential. The process of achieving the competitiveness for Pakistan’s economy could be characterized as transition towards capital intensive and efficiency driven stage of economic development from its present outlook as labor intensive semi-industrialized economy.
ITC will be a hallmark symbol of public private partnership in global trade promotion of Pakistan’s economy. It will work closely with different Government departments for effective implementation of the core objectives. We are also looking to develop linkages with national and international trade associations for knowledge and opportunities sharing. This institute will be a center of convergence of academia and industrial practices, to help build a prosperous Pakistan.
Though change is not an overnight process at all but we, nevertheless, believe that revolutions occur only if passion meets vision!