AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: A high-profile trade delegation from Kyrgyzstan visited Pakistan, aiming to bolster economic cooperation and explore new trade opportunities. The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) hosted the Pakistan-Kyrgyzstan Trade and Investment Forum at its headquarters, attracting interest from senior parliamentarians, diplomats, and business leaders.
The forum comes in the wake of a recent inter-governmental commission between the two countries, which resolved to enhance bilateral trade from $16 million to $100 million. Mr. Atif Ikram Sheikh, President of FPCCI, welcomed the delegation and expressed optimism about the untapped potential in trade between Pakistan and Kyrgyz Republic.
H.E. Mr. Edil Baisalove, Deputy Chairman of the Cabinet of Ministers of Kyrgyz Republic, highlighted Kyrgyzstan’s rapid industrialization, offering numerous opportunities for joint ventures and economic cooperation. He assured Pakistani industrialists of the potential for substantial growth in bilateral trade.
Mr. Kylychbek Sultan, Ambassador of Kyrgyz Republic in Pakistan, discussed ongoing efforts to establish new trade routes, aimed at creating a conducive environment for bilateral trade expansion. The focus is on enhancing connectivity to facilitate trade.
Mr. Saquib Fayyaz Magoon, Senior Vice President of FPCCI, emphasized the strategic importance of the trade routes linking Kashgar in China to Kyrgyzstan and Pakistan via the China-Pakistan Economic Corridor (CPEC). He advocated for utilizing Kyrgyz passes to connect with Gwadar port, thereby enhancing trade linkages.
The forum also underscored the need for reciprocal single-country exhibitions to showcase goods and services, while calling for the removal of non-tariff measures and barriers to boost trade. Strengthening coordination between national chambers was deemed essential.
Mr. Abdul Mohamin Khan, Vice President FPCCI, highlighted Pakistan’s business-friendly reforms, including streamlined company registration, digital tax filing, and the establishment of Special Economic Zones offering tax incentives.
The FPCCI leadership, including Mr. Aman Paracha and Mr. Asif Sakhi, pledged to actively pursue the discussions from the forum, ensuring follow-ups with their Kyrgyz counterparts to materialize the plans. The need for safe, efficient, and scalable trade routes was emphasized to facilitate rapid export growth from Pakistan to Kyrgyzstan.
The forum marks a significant step towards realizing the economic potential between Pakistan and Kyrgyzstan, with both sides committed to enhancing trade relations.