ISLAMABAD, Jun 01 (Alliance News):Chairman Kyrgyzstan Trade House Meher Kashif Younis on Thursday said the trade relations between Pakistan and Kyrgyzstan had the potential to grow and expand in various sectors.
Talking to a delegation of industrialists led by Faran Shahid, he said, “While the current trade volume between the two countries is relatively modest, there are several areas where both nations can benefit from increased cooperation and trade,” said a press release.
He said the bilateral trade between the two countries had historically been limited but has shown potential for growth, adding that in recent years, both countries had expressed their commitment to enhancing trade ties and serious endeavors for improving transportation links, simplifying customs procedures, and strengthening trade facilitation measures, which can contribute to boosting trade volumes
. He said both countries could also explore opportunities for cooperation in the agricultural, education and pharmaceutical sectors. Pakistan was known for its agricultural produce, including fruits, vegetables, rice, and textiles, Younis said, adding that Kyrgyzstan, on the other hand, had a rich agricultural base and was known for its exports of walnuts, dried fruits, and honey.
“Collaboration in this sector can lead to the exchange of agricultural products and expertise,” he emphasised. Meher Kashif Younis said Pakistan had a well-established textile industry, and Kyrgyzstan could benefit from sourcing textiles and apparel products as the former’s textile products, including fabrics, garments, and home textiles, are in demand globally
. “By establishing trade links in this sector, Kyrgyzstan can access high-quality textile products and potentially strengthen its own textile and apparel industry,” he highlighted.
Kyrgyzstan had significant hydropower potential, while Pakistan had a growing energy demand and two countries can explore opportunities for cooperation in the energy sector, including joint ventures in hydropower projects, sharing of technical expertise, and collaboration in renewable energy initiatives, Meher informed.
Given its geographical location, Kyrgyzstan could serve as a transit route for Pakistani goods to reach other Central Asian countries, he said and added that strengthening transit trade routes and improving connectivity between the two nations could create opportunities for trade expansion and regional integration.
“Pakistan and Kyrgyzstan can also promote educational and cultural exchanges to strengthen people-to-people ties.” Encouraging student exchanges, and scholarships, and promoting tourism between the two countries could also help to foster mutual understanding and cooperation, he added.
Meher Kashif Younis said Kyrgyzstan could also benefit from Pakistan’s robust pharmaceutical industry by importing its products.
“Collaboration in the healthcare sector, including the exchange of medical expertise and joint ventures in pharmaceutical manufacturing, can be explored to enhance trade relations,” he added.
He said continued efforts from both countries to enhance bilateral trade and investment would be crucial in realizing the full potential of their trade relations.