Export of high technology based goods be enhanced instead of manufactured goods export if Pakistan intend to survive in world trade because the share of high technology based goods exports to manufactured goods exports in the world is rising continuously.
Pakistan must adapt to the business norms of the knowledge based economy so as to integrate its business in international trade.
These views were conveyed to President, FPCCI, Mian Mohammad Idrees by Dean, Business Administration faculty of Mohammad Ali Jinnah University, Dr. Shafiq Ur Rehman who is also a group member of Revival of Pakistan Economy Committee of FPCC and I, said a statement on Friday.
While suggesting some of the future guidelines, Dr. Shafiqur Rehman said that extensive research is needed to explore how the development of knowledge based economy is going to affect Pakistans educational sector, covering trade balance, job structure, life style, emerging business and especially the new competitive advantage in global business.
He said that liberalizing telecommunication industry and promotion of e-business and e-government with lowering telecommunication cost will help in promoting intra and international trade.
He said that in a knowledge based economy priority should be given to implementation of labor laws and intellectual property rights to ensure a good return to workers having knowledge.
He further said that private sector organizations would also have to change their work practices to compete in knowledge base economy.
The foremost efforts should be to improve working conditions and compensations for the knowledge worker, he added.
He said that equally important is the improvement in our management system in terms of international standards, this would include implementation of ISO certifications.
It is pointed out that Malaysia is exporting goods based on high technology and achieved highest position among Muslim countries, he added.