The nominated ambassador of Pakistan to Ukraine Major General (Retd) Nadir Khan has pledged to try to find new economic possibilities for Pakistan in Ukraine and to assist the business community in developing trade with the Ukrainian peers. Speaking to the business community at the Islamabad Chamber of Commerce and Industry (ICCI), he stressed the need for Pakistani businesspeople and investors to be prepared to take advantage of the business and investment opportunities that will be available in Ukraine during its reconstruction phase.

According to Nadir Khan, the bilateral trade between Pakistan and Ukraine is less than $1 billion, and the trade balance is heavily in Ukraine's favour because Pakistan buys more than $700 million and exports about $70 to $80 million. In order to improve the trade balance, he emphasised that Pakistan's business sector should work to export more goods to Ukraine. He pledged to take all reasonable steps to assist them in this endeavour.

According to ICCI President Ahsan Zafar Bakhtawari, Pakistan may export a wide range of items to Ukraine, including fruits, vegetables, textiles, cutlery, building materials, IT products, sports equipment, and surgical and medical supplies. He emphasised that in order to explore new opportunities for trade promotion, the Pakistani Embassy in Ukraine should work to promote economic ties between the private sectors of the two countries.

He said that Pakistan needs to boost exports to increase its foreign exchange reserves, which have fallen to less than $3 billion. He asked Pakistan's business entities abroad to measure the demand for Pakistani goods in their respective markets in order to increase exports. According to Ahsan Zafar Bakhtawari, direct flight connections between Pakistan and Ukraine are crucial for fostering commercial and interpersonal ties between the two nations.

ICCI Vice President Engineer Muhammad Azhar ul Islam Zafar suggested that Pakistani commercial counsellors be given yearly export objectives and that their performance be evaluated in light of those aims. He recommended hiring some business advisers from the private sector who could aid in enhancing exports.

Credit: Independent News Pakistan-WealthPk