Pakistan to sign a transit trade agreement with Kazakhstan, Tajikistan

Pakistan is negotiating a transit trade agreement with Kazakhstan and Tajikistan to diversify export markets.

Pakistan traditionally depends on export markets of the Middle East, the United States (US), and the European Union (EU).

The central Asian States offer a big potential for exports which is an untapped area.

Naveed Qamar Commerce Minister has stated that the government’s vision is to make Pakistan a trade, transit, and transshipment hub ensuring connectivity with Afghanistan and beyond.

In this regard, Pakistan has signed a transit trade agreement with Uzbekistan, and is negotiating Transit Trade Agreement with Kazakhstan and Tajikistan, he added.

Deputy Minister of Foreign Affairs of Kyrgyzstan, Aibek Artykbaev on Friday called on Federal Minister for Commerce & Investment, Syed Naveed Qamar.

The meeting which was held in the Minister’s Office was attended by Special Secretary Commerce Dr. Ahmed Mujtaba Memon and Additional Secretary, Syed Hamad Ali.

Kyrgyzstan is also part of the CASA power project under which Pakistan will import 1000 MW of electricity from Tajikistan.

There has also been a Quadrilateral Traffic and Transit Agreement (QTTA) between Pakistan, China, Kyrgyzstan, and Kazakhstan, which is part of CPEC.

This agreement also offers an excellent communication network between Central Asia and Pakistan’s Gwadar Port in the Arabian Sea.

During the meeting, both sides discussed ways and means of increasing trade volume between the two countries and enhancing cooperation in other areas of mutual interest.

The minister said that promoting international trade, transit and investment is the pivot around which Pakistan seeks to devise its economic policies.

Naveed Qamar expressed stated that the government’s vision is to make Pakistan a trade, transit, and transshipment hub ensuring connectivity with Afghanistan and beyond.

In this regard, Pakistan has signed a transit trade agreement with Uzbekistan, and is negotiating Transit Trade Agreement with Kazakhstan and Tajikistan, he added.

Bilateral trade between Pakistan and Kyrgyzstan remained at US$ 4.27 million during the fiscal year 2021-22 which does not reflect the true potential of trade between the two countries, the minister opined.

The Commerce Minister said that Pak-Kyrgyzstan Trade and Investment Forum was held from 19-20 April 2022 in Islamabad and 22nd April in Lahore and desired that such activities should be held on a regular basis in the future.

Syed Naveed Qamar maintained that the draft MoU on the establishment of the Joint Working Group has been shared with the Kyrgyz republic and their response was awaited.

The Kyrgyz Deputy Foreign Minister assured the Pakistani side of further enhancing trade ties between the two countries and said that he would take practical measures in this regard.