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Pakistan Seeks More Trading Partners Among Central Asian Countries

Zibago

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Pakistan Seeks More Trading Partners Among Central Asian Countries
Posted 2 days ago by Syeda Masooma

Pakistan is aiming to improve trade with neighboring country Afghanistan as well as other countries in Central Asia, as it plans to diversify commerce, Bloomberg reported Abdul Razak Dawood as saying.


Adviser to PM on Trade and Commerce Dawood said in an interview that Pakistan is seeking to finalize a new trade accord with Afghanistan by June 2021.
Pakistan plans to grow trade with five landlocked Central Asian nations – Uzbekistan, Tajikistan, Turkmenistan, Kyrgyzstan and Kazakhstan. The plan is to improve the multilateral trade to $1.5 billion annually, from less than a billion in the past decade, he said.
Pakistan stands to benefit from greater trade with Central Asian markets in another highly beneficial way, especially from those that are rich in energy resources. This can assist Pakistan in pursuit of growing the industrial base, the newspaper report added.
Pakistan is due to sign transit and preferential trade agreement with Uzbekistan in July, Dawood said.

Pakistan is seeking newer markets, as currently it’s trade is heavily reliant on the US, EU and China. Out of Pakistan’s total trade value of $66 billion for the year ended June 2020, China accounted for $11.2 billion and North America $6.76 billion, State Bank of Pakistan (SBP) data showed.

Syeda Masooma


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Pakistan Seeks More Trading Partners Among Central Asian Countries (propakistani.pk)
 

Hiraa

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Get African countries into the mix as well. We need to expand our trade to form good relations with everyone and not just being dependent on mercy of US or EU
 

313ghazi

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Get African countries into the mix as well. We need to expand our trade to form good relations with everyone and not just being dependent on mercy of US or EU
Diversification of trade is key to success. We must make everything, we must provide every service and we must sell to everyone (maybe not our enemies). The closer we get to that goal, the more successful we will be.
 

Hiraa

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Diversification of trade is key to success. We must make everything, we must provide every service and we must sell to everyone (maybe not our enemies). The closer we get to that goal, the more successful we will be.
indeed. Anything we produce, export it. Set up new plants to diversify our services which then can be exported. The only we to go up is by increasing our exports to broad range of markets.
 

Bilal Khan (Quwa)

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Diversification of trade is key to success. We must make everything, we must provide every service and we must sell to everyone (maybe not our enemies). The closer we get to that goal, the more successful we will be.
indeed. Anything we produce, export it. Set up new plants to diversify our services which then can be exported. The only we to go up is by increasing our exports to broad range of markets.
We also need a variety of products to sell to these markets (and not be stuck with only agriculture). For example, we need to invest in automobile technology, expand construction-grade steel output, and nurture feeder industries. Places like Africa and Central Asia want these higher value goods, we have the potential to deliver at lower cost.
 

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