Published On: Sun, Mar 20th, 2016

Pak Turkmen forum discusses ways to boost bilateral trade

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Pak Turkmen forumThe Pak Turkmen Forum first meeting took place to strategize the agenda for policy involvement to boost bilateral trade.

The meeting was attended by both countries delegations, Pakistan delegation included Commerce Minister Khurram Dastgir Khan and the Turkmenistan side included representative of Ministry of Trade and Foreign Economic Relations, Atajan Bayramov, Deputy Minister of Agriculture and Water Economy Makstmyrat Atayev, Deputy Minister of Textile of Turkmenistan Nepes Gaylyyev and representative of the Union of Industrialists and Entrepreneurs of Turkmenistan, Tahyr Atahanov.

Mr Gaylyyev said Turkmenistan had fine quality cotton but their textile industry did not produce many textile products due to lack in technological areas for textile industry. He said that Pakistan has a complete chain of industries required in the textile sector. He presented Pakistani businessmen with the proposal of investment in Turkmenistan’s textile sector to help reap their emerging textile market.

Mr Bayramov said that Turkmenistan acknowledged Pakistan’s efforts to boost bilateral trade and was willing to facilitate Pakistani traders in travelling to Turkmenistan.

The importance of emerging opportunities in construction, infrastructure and development sectors was also discussed amongst the meeting attendees.

The commerce minister speaking to media said that the dream of a strong inter-regional connectivity between Pakistan and Central Asia was becoming tangible now.

He said that western routes of the China Pakistan Economic Corridor (CPEC) would provide the landlocked Central Asian countries with shortest possible trading routes with East Asia.

Trade Development Authority Pakistan, TDAP has planned to send a trade delegation of sports goods exporters on the event of 5th Asian Indoor Games told Mr. Dastgir, official participation would also be organised in the International Construction Exhibition in Ashgabat.

Minister said that bilateral trade had great potential from increasing from $25 million. A business delegation from Turkmenistan has been invited for attending Textile Expo in Karachi in April, 2016. To give further momentum to trade, TDAP was also considering plans to organise a Road Show in Turkmenistan in 2016, the minister said.

The minister also shed light on the factors that hindered the trade between Pakistan and Turkmenistan that included lack of direct cargo links, little knowledge of Pakistani products and visa facilitation.

Pakistan’s accession to the TIR Convention will greatly facilitate Pakistan’s trade with Turkmenistan and other Central Asian states, he added.

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