Direct air links and establishment of banking channels between Pakistan and Tajikistan can be instrumental in boosting bilateral trade and economic ties, said the Tajik ambassador. Ismatullo Nasredin, Ambassador of Tajikistan to Pakistan, said during his visit to Lahore Chamber of Commerce and Industry (LCCI) that a direct flight will be started between Islamabad and Dushanbe soon.

According to a press statement received by WealthPK, the ambassador said that launching air services for commercial purposes is the need of hour, as the two countries share common values. He said that there are some political, transportation and communication-related challenges, but these can be tackled by joint working. He said direct flights between Tajikistan and Pakistan can save travelling time and help improve mutual trade.

The ambassador said that visa is facilitated for Pakistani businessmen, and not a single request has been rejected. He invited the LCCI president to arrange a trade delegation for Tajikistan to explore trade and investment opportunities. He said that the textile, pharmaceutical, fruits and vegetables, tourism and education sectors have immense potential for joint ventures. He said Tajikistan wants to utilise Pakistani ports as these would cost three times less than other countries.

Nasredin agreed with the LCCI President Kashif Anwar that work should be done on 88 cooperation documents signed between the two countries. He said negotiations between Pakistani banks and Tajikistan are well on the way for the establishment of proper banking channel. He said that both the countries should establish direct trade links, because trade through a third country takes too much time.

Kashif Anwar said that 80% of the 88 signed agreements are economy-related, and there is a lot of potential for bilateral cooperation if these agreements are translated into practice. He said the visit of Tajik President Emomali Rahmon to Pakistan in December 2022 laid a strong foundation for further strengthening diplomatic and trade ties. He hoped that as decided during the visit, the Strategic Partnership Agreement between the two countries will be finalised soon.

The LCCI president said that despite immense potential, bilateral trade volume remained limited to around $13 million during fiscal year 2021-22 compared to $9.5 million during 2020-21, according to data from the State Bank of Pakistan (SBP). He said that during fiscal year 2021-22, Pakistan’s exports to Tajikistan were $3.3 million, and imports were $10 million. During the first six months of current fiscal year (2022-23), Pakistan’s exports to Tajikistan were around $2.6 million, while imports were around $3 million. The LCCI president said that by developing direct air, rail and road connectivity, the economic relations between the two countries can be taken to new heights.

 Credit: Independent News Pakistan-WealthPk