By Faiza Tehseen ISLAMABAD, Feb 11 (INP-WealthPK): Kyrgyzstan is interested in developing strong trade relations with Pakistan as the geographical position of Bishkek is ideal for Islamabad to improve its business ties with the Central Asian Republics (CARs). “As Pakistan is a gateway linking the CARs with the outer world, Kyrgyzstan is keen to enhancing its trade and business relations with Pakistan. In this respect Kyrgyz embassy is planning to arrange a Kyrgyz-Pak business forum in Islamabad with the active participation of businessmen associated with different chambers, particularly the Islamabad Chamber of Commerce and Industry (ICCI),” said Kyrgyz ambassador Ulanbek Totuiaev. The envoy had a meeting with the ICCI representatives recently, where he expressed Kyrgyzstan’s interest in further building on the relations the two countries are enjoying. Mr Totuiaev said Kyrgyzstan is the member of Eurasian Economic Union which has a potential market of 180 million consumers. Bishkek is also getting benefit from the European Union’s GSP+ status. So, strong bilateral trade ties between Islamabad and Bishkek will benefit Pakistan in a great way, he noted. The envoy said Pakistan and Kyrgyzstan were both agrarian economies as the agriculture sector contributed at least 20% to the GDP growth of both countries. “They are near neighbours and well-associated to produce raw and value-added agricultural products. Kyrghizstan is landlocked, while Pakistan’s vast infrastructure in rail, road, sea etc links Central Asia and China to the Arabian Sea with a large consumer market. Kyrgyzstan is rich in minerals, gold, coal etc, and there is also a vast market for Pakistani mango, mandarin, rice, vegetables,” Mr Totuiaev explained. “Both countries have signed many memoranda of understanding between 1991 to 2019, which need to be materialised.  The two countries can also benefit as they are members of the Shanghai Cooperation Organisation and the Quadrilateral Traffic in Transit Agreement (QTTA) ,” the envoy said. Mr Totuiaev informed the ICCI members that Pakistan will greatly benefit from the Central Asia South Asia Electricity Transmission and Trade Project (CASA-1000), which will supply power to Pakistan from Kyrgyzstan and Tajikistan via Afghanistan in near future. “Kyrgyzstan can be a trade hub for Pakistan in Central Asia as it shares border with Kazakhstan and Russia,” he emphasised. According to the UN COMTRADE database, Pakistan exported goods to Kyrgyzstan worth $1.66 million during 2020, while its imports in multiple consumer goods were worth $123.31 million. Pakistani exports to Kyrgyzstan in 2020.

Source: https://tradingeconomics.com/pakistan/exports/kyrgyzstan

Pakistani imports from Kyrgyzstan in 2020.

 https://tradingeconomics.com/pakistan/imports/kyrgyzstan

The ambassador stressed that there was dire need to find a solution to complexities in logistics chain, especially at borders, easy documentation, quick verification etc. He also called for starting direct cargo flights between Islamabad and Bishkek. Speaking on the occasion, ICCI president Shakeel Munir said in order to promote trade with its non-traditional partners, Pakistan has taken a number of initiatives like creation of Pakistan Business Council (PBC) to enhance trade relations with such countries. He said trade relations with Kyrgyzstan would be fruitful for Pakistan to get access to this part of the world. Pakistan can take advantage of Kyrgyzstan’s experience in hydroelectric generation through water mills. The two countries can also cooperate on promoting tourism, he stressed. Mr Munir said Pakistan can export multiple goods to Kyrgyzstan like marble, granite, pharmaceuticals, textiles, surgical instruments, edibles, sports goods, leather products, engineering and IT equipment. He said Kyrgyzstan would have to increase imports from Pakistan to make available standardised products to its consumers. He said the Islamabad chamber would seriously consider the offer to cooperate with Kyrgyzstan embassy in organising the Kyrgyz-Pak business forum.