Pakistani federal cabinet Monday approved trade policy for fiscal year 2006-07 setting 18.6 billion U.S. dollars' target of exports, the private GEO Television reported.

During the cabinet meeting held in Islambad with Pakistani Prime Minister Shaukat Aziz in chair, the Pakistani cabinet endorsed 18.6 billion dollars' exports target for the fiscal year 2006-07 beginning from July 1, GEO said.

The cabinet meeting also approved dissolution of the Export Promotion Bureau and replacing it with the Trade Development Authority of Pakistan, which will be an autonomous body that will work to achieve the trade targets, the report said.

"We have to seek new markets, manufacture new products and adopt new ways to boost our trade," Aziz told the cabinet, quoted by GEO.

Source: Xinhua