Economic integration

The Pakistan-Kyrgyzstan APT will act as a catalyst for regional economic integration

ISLAMABAD: Ambassador of the Kyrgyz Republic to Pakistan Ulanbek Totuiaev said on Sunday that the bilateral preferential trade agreement between Pakistan and Kyrgyzstan will not only increase the volume of trade between the two countries but also act as a catalyst for regional economic integration.

Speaking to APP, Ulanbek Totuiaev said the implementation of the PTA will serve as a prolific accelerator for improving trade between Pakistan and Kyrgyzstan. “In this regard, I consider it important for our governments and, in particular, for the authorities concerned, to point out specific areas of interest, in which bilateral trade can be most effective and mutually beneficial.”

The Ambassador said that by completing this process, both parties will have all the information necessary for the design, successful implementation and effective use of the PTA.

Responding to a question, he said that since Kyrgyzstan and Pakistan had highly developed agricultural sectors, there was great potential for developing cooperation in this area. “In particular, Kyrgyz agricultural enterprises can export dairy products, meat, dried fruits, honey, rawhide and some crops like beans to Pakistan,” he added.

Ulanbek Totuiaev said that businessmen on the Pakistani side can cooperate more actively with Kyrgyz companies in terms of exporting wheat, flour, citrus fruits and sugar, re-exporting them more to the countries of the Union Eurasian economy.

He said the same operations could be done in industrial manufacturing, textiles, building materials and others.

Ambassador Totuiaev said that in particular there are great opportunities when it comes to the export of pharmaceuticals from Pakistan to Kyrgyzstan.

“Efficient trade between Kyrgyzstan and Pakistan is possible in various fields. However, in order to effectively use the existing potential, businessmen and enterprises should pay more attention to business opportunities and interact more actively with partners on each side.

Responding to another question, he said that the bilateral trade between Kyrgyzstan and Pakistan has huge potential, which however is not fully explored and utilized. “I call on both sides to actively cooperate in order to overcome the issues that influence this issue,” he added.

The Ambassador said that first of all, there was a lack of mutual awareness and that business representatives from both sides were not fully aware of trade, economic and investment opportunities.

In order to deal with this problem, the Embassy of Kyrgyzstan in Islamabad, together with Pakistani partners, is actively working to organize mutual business visits, various seminars and conferences, as well as permanent information businessmen from both sides on the existing great trade, economic and investment opportunities, he said.

Ambassador Totuiaev said another key issue was the logistical entrenchment difficulties between the two countries, especially given the peculiarities of transiting goods through the territories of Afghanistan and China, and the lack of convenient road and rail links.

He said, “In this context, I consider it important that the governments of the two countries intensify the interaction in terms of addressing these issues.”

He added that it is crucial to highlight the importance of signing the Transit Trade Agreement between Kyrgyzstan and Pakistan, which would open excellent opportunities for the efficient transit of goods.

He said that over the past year the figures of Kyrgyz-Pakistani trade and economic interaction were not so high. “However, I anticipate with great optimism the future rapid development of trade interaction between our states, especially taking into account the emphasis placed by the governments of the two parties on strengthening cooperation between the countries. of the region”.

The ambassador said that Kyrgyzstan could play an important role in creating a trade link between South Asia and CIS countries with European Union countries. Meanwhile, Pakistan could also serve as a gateway for Central Asian states to external markets, especially through its seaports, located in Sindh and Balochistan provinces, he added.

“I sincerely believe that these peculiarities will serve as a key point for the future influence of trade relations between our countries on regional connectivity,” the Kyrgyz Ambassador said.