Pakistan is looking to search new trade avenues and will explore new markets in resources rich regions of the Central Asia and Africa to enhance country’s export by increasing economic ties with these potential markets.
Director Trade and Development Authority of Pakistan (TDAP), Khalid Rasool told state-run media on Monday Priority of government was to explore regional market by improving the trade and economic relations with Central Asian economies and Afghanistan including Africa.
For this purpose, TDAP intended to organize Pakistan Afghanistan and Central Asian Republican (CARs) Conference from November 7 to 9 in Islamabad, he added.
Pakistan had opportunity to enhance the country’s export in pharmaceutical, poultry, surgical instruments, including variety of textiles items such as synthetic textile products, raw cotton, cotton Yarn, leather and sports goods, electronics, Sea food, furniture, cement, apparel, marble and agro based industry like rice, beef, sugar, poultry chicken, potatoes, fruits and vegetables, he said.
He said the trade ministers and business community and Chambers of Commerce and Industry from both Afghanistan and Central Asian would be invited to attend the conference.
Senior official of Ministry of Commerce informed that the main objective of this conference was to enhance bilateral trade volume, strengthen trade and economic ties and regional trade integration of these economies.
“We want to touch the untapped market of Central Asia with a total population of over 66.5 million spread over an area of about four million square kilometers, and located on historical Silk Route,” he said.
Pakistan was looking for easy access of neighboring partners to bigger markets of the region, technology sharing focusing on collective regional prosperity, he added.
Khalid Rasool said that Central Asian States presented a consolidated market of 289 million and a GDP of $ 593.56 billion, which offered a huge reservoir of untapped economies.
He said Pakistan-Central Asia relations were based on geographical proximity, common history, religion, culture, traditions, values and destiny.
Pakistan and these states could work together in areas of trade, economic stability and development of the region, the Director TDAP said.
Replying to a question, he said that TDAP was looking to organize “Look Africa” Business forum by November 10, in Krarachi.
He added that Pakistan holds potential to increase its exports in textile, pharmaceutical, cement, leather, chemical, low tech, marbles and gems and jewelry in African countries.