ISLAMABAD: Pakistan and Afghanistan Saturday discussed ways and means to remove barriers to increase bilateral trade.
Federal Minister for Commerce Syed Naveed Qamar and his Afghan counterpart Haji Nooruddin Azizi jointly chaired a high-level formal meeting regarding bilateral trade between Pakistan and Afghanistan. The meeting was attended by senior officials from the ministries of commerce, customs, transport, and finance from both sides.
Bilateral relations between Pakistan and Afghanistan are soaring due to a variety of reasons including security issues which led to the suspension of trade for many days recently and also in the past..
Afghan foreign minister to woo neighbours on rare visit
According to officials, various important aspects including customs cooperation, border management, bilateral trade, tariff reduction and issues related to pharmaceutical and meat industries were discussed in detail.
The issue of Preferential Trade Agreement (PTA) is also on hold for the last several years due to some unfeasible demands of Kabul.
Both sides expressed their determination to strengthen trade relations and address the challenges facing trade relations between the two countries.
The ministers emphasized the importance of streamlined customs processes and effective border management to facilitate trade and enhance economic cooperation. He also emphasized the need to streamline and simplify trade procedures, with the aim of reducing barriers and ensuring a conducive environment for bilateral trade.
Official statement issued by the Commerce Ministry, the participants discussed increasing the trade volume between Pakistan and Afghanistan and expanding the range of trade goods.
Both Ministers recognized the importance of diversifying trade away from traditional commodities and exploring new avenues of economic cooperation. Additionally, improving infrastructure and connectivity to facilitate trade flow was discussed, said the statement.
Officials highlighted the potential benefits of investing in transport and logistics infrastructure, which would help boost trade and economic growth.
Both sides expressed their determination to address any challenges that hinder mutual trade and pledged to work together to make the trading environment more conducive. The meeting ended on a positive note, with the participants pledging to strengthen trade relations between Pakistan and Afghanistan and promote closer economic cooperation.
Copyright Business Recorder, 2023
Comments
Comments are closed for this article.