Karachi, April 26, 2014 (PPI-OT): Pakistan and Kyrgyzstan enjoy friendly and cordial relations and are tied together under the umbrella of Economic Cooperation Organization (ECO) and Organization of Islamic Conference (OIC) but unfortunately the volume of bilateral trade amongst both the countries are below their potential.
This was stated by Mr. Zakaria Usman, President FPCCI yesterday in a meeting with Charge d’affairs Kuanychbek Toktorbaev who visited FPCCI yesterday. The meeting was also attended by Shaukat Ahmed, Sr. Vice President and Khurram Sayeed, Vice President FPCCI. During the meeting the Chief Executive of TDAP Mr. S. M. Muneer also graced the gathering with his presence along with Mian Zahid a prominent businessmen and former Minister.
Zakaria Usman said that an MOU was signed between FPCCI and Kyrgyz Commerce and Industry Chamber in 2011 but still there is no Joint Business Council of both the country. Earlier the businessmen was facing some problem in terms of transportation of their goods to Kyrgyzstan via Afghanistan.
Now Afghanistan is become the member of TIR which is a plate form of all ECO member countries for provision of transit trade. Pakistani products can be exported to all central Asian countries including Russia through Kyrgyzstan. Moreover, the Kashghar – Gawadar Economic corridor of Pakistan will play pivotal role in enhancing the bilateral trade with Kyrgyzstan.
The Charge d’affairs informed that they are keen to promote bilateral trade with Pakistani entrepreneurs. There are 330 Pakistani companies are registered in Kyrgyzstan and doing successful business.
He said that Kyrgyzstan is a small land lock country and we are waiting for the Kashgar – Gawadar Economic corridor which will help us in promotion of bilateral trade with Pakistan. He informed that we consume only 10% of our electricity production however, 90% electricity is now exporting to neighboring countries. Why not Pakistan comes forward to import electricity from Kyrgyzstan to meet the shortage of energy whereas they have cheaper electricity as compare to other countries in terms of cost.
The Charge d’affairs has also extended a formal invitation to FPCCI for organizing Pakistan’s Single Country Exhibition in Kyrgyzstan for which he assured his full support and cooperation. The President FPCCI agreed on the proposal along with a prior visit of a trade delegation to Kyrgyzstan to explore the trade potential.
The Chief Executive of TDAP S. M. Muneer appreciated the proposal of the exhibition and exchange of delegation and invited the Kyrgyz businessmen to participate in forthcoming Expo Pakistan 2014 at Karachi and said that this would provide a better opportunity to Kyrgyz businessmen to interact with Pakistani businessmen.
Shaukat Ahmed, Sr. Vice President and Khurram Sayeed Vice President of FPCCI stressed establishment of direct link with Kyrgyz business community which is essential and connectivity is remained an important element in enhancing trade and people-to-people interaction. They appreciated the efforts of the Charge d’affairs for promotion of bilateral trade between both the countries.
Zakaria Usman identified textiles, oil and gas exploration, hydropower generation, light engineering and financial sectors as potential areas for mutual cooperation between the two countries. He urged for joints efforts to improve trade relations between the two countries to exploit the existing potential for mutual benefits.
For more information, contact:
M. A. Lodhi
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: +92-21-35873691, 93-94