Business

RCCI urges for promoting trade ties with Kyrgyzstan

ISLAMABAD, April 20 (SABAH): Kyrgyzstan, is the shortest entry point of Pakistani products to the ‘Eurasian Economic Markets’ of 182 million people comprising Russia, Kyrgyzstan, Kazakhstan, Belarus and Armenia. No doubt, there is a huge potential for bilateral trade between them in various fields, including agriculture, textile and pharmaceutical industry.

These remarks were made by Nadeem Rauf, President, Rawalpindi Chamber of Commerce and Industry (RCCI) while addressing the Kyrgyz-Pakistan Trade and investment forum at a local hotel in Islamabad. The forum was organized by the Embassy of the Kyrgyz Republic to the Islamic Republic of Pakistan, with the support of the USAID Regional Office for Economic Integration, the Government of the Islamic Republic of Pakistan and the Chambers of Commerce and Industry of Islamabad and Rawalpindi.

RCCI chief further said that the bilateral trade amounted to $5.9 million in 2021 with Pakistan’s exports amounting to $5.3 million and imports $600,000.

There is a need to increase bilateral trade links and networking at the chamber of commerce level and  suggest bilateral sector specific exhibitions on reciprocal basis. RCCI demands that the direct flights should be launched between the two countries.

The purpose of the forum was to establish and develop contacts between the business circles of the Kyrgyz Republic and the Islamic Republic of Pakistan.

The Ambassador of the Kyrgyz Republic to the Islamic Republic of Pakistan Ulanbek Totuiaev, Head of the USAID Regional Office for Economic Integration Bano Burki and Additional Secretary of the Ministry of Commerce of the Islamic Republic of Pakistan Saeed Hamid Ali also spoke on the occasion.

During the forum, Kyrgyz businessmen made presentations on the economic opportunities in such spheres as pharmaceuticals, textiles, logistics, IT and energy sectors, industry, agriculture, food industry, and construction.

Within the framework of the events, there were organized B2B meetings between the representatives of the business circles of the two countries.