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HomeBilateral RelationsOfficial highlights potential for Pakistan-Kyrgyzstan economic integration, trade

Official highlights potential for Pakistan-Kyrgyzstan economic integration, trade

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ISLAMABAD: In a meeting with a delegation of industrialists and traders led by Faran Shahid Arain at Kyrgyzstan Trade House (KTH), Meher Kashif Younis, chairman of KTH and Coordinator to Federal Tax Ombudsman, emphasized the potential for economic integration between Pakistan and Kyrgyzstan.

He highlighted the longstanding and fraternal relations between the two countries and expressed Kyrgyzstan’s interest in enhancing bilateral trade and investment.

Younis noted that Pakistan’s strategic location provides landlocked countries such as Kyrgyzstan access to global markets through its ports, making it an attractive partner for trade and investment. He emphasized the need for closer interaction between traders and people-to-people contact to strengthen ties and increase economic cooperation.

Younis further stated that Central Asian Republics (CARs) and Kyrgyzstan have an estimated market size of over $90 billion with potential for business and investment. However, Pakistan’s trade with these countries has not been up to the mark.

He encouraged Pakistani exporters to consider exporting products such as textiles, leather, pharmaceuticals, agriculture products, electrical appliances, communication equipment, machinery, and building materials to Kyrgyzstan and other CARs.

Younis also highlighted that Kyrgyzstan imports a large variety of machinery and equipment from other sources, and Pakistan has the potential to become a major exporter of high-value products. He further added that Pakistan can import energy and other products from Kyrgyzstan and other countries.

Younis mentioned that the Ambassador of Kyrgyzstan to Pakistan, Ulanbek Totuiaev, is making efforts to promote bilateral trade between the two countries and facilitating importers and exporters to explore investment avenues and joint ventures. He further stated that KTH symbolises the trade cooperation between the private sectors of both countries.

In conclusion, Younis emphasized that Pakistan and Kyrgyzstan have centuries-long cultural, religious, and economic relations, and both countries are rich in mineral resources and have highly skilled human resources. Pakistani products have been found to be very competitive with affordable prices and can capture a better market share in Kyrgyzstan.

Source: pakistantoday

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