Karachi, September 28, 2023 (PPI-OT): Mr. Irfan Iqbal Sheikh, President FPCCI, has informed that FPCCI’s sustained efforts; from the platform of its high-profile Pakistan – Kazakhstan Business Council; have been fruitful on various counts: (i) direct flights have started between Pakistan and Kazakhstan (ii) commercial banking channel has been established between the two countries (iii) land-based cargo services have commenced under TIR. These gains are only going to amplify in the coming days; and, post healthy gains in terms of trade, investments, B2B activities and economic relations, he added.
Mr. Irfan Iqbal Sheikh also expressed his optimism that bilateral trade between the two countries will soon be doubled to $400 million from the current approximately $200 million; and, FPCCI is optimistic that it can cross the psychological mark of $1 billion within 2 – 3 years.
Mr. Shabbir Mansha, VP FPCCI, maintained that Pakistan has a trade potential of up to $3.6 billion in Kazak market in the medium to long-term. Some of the potential products that Pakistan can export to Kazakhstan are: apparel, articles of bedding, footwear, leather, jerseys, pullovers, gloves, vegetables, meat, rice, seafood, vegetables, fruits and vegetables, food preparations, cutlery, sports goods and tractors.
Mr. Shaukat Omerson, VP FPCCI, was of the view that exploration of new markets for Pakistan is only possible if it taps Africa and Central Asian Countries quickly as these regions are witnessing the emergence of middle-class; and, Pakistani products will be cost-competitive for them. We need to be proactive in our approach to have first-mover-advantage and capture the sizable market shares.
Mr. Mehmood Ul Hassan Awan, Chairman of FPCCI’s Pakistan – Kazakhstan Business Council, highlighted that FPCCI has done the pioneering work through its assistance to both the governments in creating awareness and consultative processes; and, facilitating direct flights, commercial banking channel through a Pakistani bank and employing TIR convention- entailed benefits.
H. E. Yerzhan Kistafin, Ambassador of Kazakhstan in Pakistan, stated that he has been meeting heads of many relevant organizations in Pakistan; like banks, ministries and logistics; to enable both the countries to fully realize their trade potential. Transit trade is another area where both the countries should strive to tap the available potential as it can result in economic development and prosperity for both the countries, he added.
For more information, contact:
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
Federation House, Main Clifton, Karachi, Pakistan
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