Need Urged For Strengthening Regional Connectivity

ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Feb, 2023 ) :Chairman Kyrgyzstan Teade House and Coordinator to Federal Tax Ombudsman Meher Kashif Younis Thursday said that prevailing global economic scenario hovering around called for greater regional connectivity to further strengthening multilateral and bilateral trade with comity of nations.

Talking to a delegation of industrialists and traders led by Faran Shahid here at trade house here today he said the conflict between Ukraine and Russia and global economic quagmire called for improved economic ties among regional nations as the current state of the world economy is scrambling.

He said Pakistan and Kyrgyzstan are attached with rich historical, cultural and economic ties.He said Kyrgyzstan offers great potential of economic cooperation in all fields in more effective and meaningful way with huge scope for Pakistan to invest in 30 mega investment projects. To enhance trade, he suggested, trade activities like trade fares and exhibitions in both countries can help achieve the results oriented desired objectives.

He said the prime purpose of establishing Kyrgyzstan Trade house is to facilitate the business community of either countries to promote bilateral trade and fortify existing economic cooperation in diversified sectors of mutual interests.

Meher Kashif Younis said Kyrgyzstan companies are interested in Pharmaceutical and agriculture sector of Pakistan He stressed the need of better banking mechanism between two counties to provide free movement of capi�tal in both countries.

He said that a railway line has been proposed between China, Kyrgyzstan and Uzbekistan which can be expanded to Mazar-e-Sharif in Afghanistan to Peshawar in Pakistan.

He said both Pakistan and Kyrgyzstan are rich in mineral resources and have high skilled human resources. They have huge scope for developing industry and agriculture, attracting foreign investment for joint production and supply of goods and services.

Pakistani products have been found to be very competitive with affordable prices and can capture a better market share in Kyrgyzstan.

He said Pak business community should explore new avenues for increasing the trade and economic ties between two countries.

He appreciated the sincere endeavours of Kyrgyzstan Ambassador Ulanbek Totuiaev for evincing keen interest and establishing constant direct interaction with our business community to help develop understanding between importers and exporters of both countries.

Kashif Younis said the volume of trade between both brotherly countries is very low as existing trade volume of around US$ 4 million Dollar is not at par with the potential.

Major exports of Pakistan to Kyrgyzstan can include fruits and vegetable juices, surgical instruments, textile products, pharmaceuticals, furniture, sports goods and leather. Similarly, Kyrgyzstan can export items like meat, dairy products, raw cow and sheep hides, mechanical and electrical equipment, aluminum, oil products, and jet fuel.