Pakistan has exported its first mango consignment to Russia via road, announced Prime Minister's Adviser on Commerce and Investment Abdul Razak Dawood on Wednesday.
"I congratulate Ishfaq & Co on becoming the first company to have exported mangoes to Russia via road under the TIR," Dawood said in a Twitter post.
"It opens new vistas for our exports to Russia & Europe via land route," he added.
According to a press release by the Federal Board of Revenue (FBR), the mango consignment left Pakistan via the Taftan/Mirjawa border with Iran. The consignment will reach Russia via the Tehran-Astara (Azerbaijan)-Astrakhan route.
Razak says exports to cross $30bn mark in FY21
This instant TIR transportation will also allow kinnow exports, which will take around 10 days to reach Moscow through the Tehran-Astara-Astra Khan route as compared to the sea route from Karachi to St Petersburg that takes around 35 days.
"I urge our exporters to utilise this route which is not only more economical but also takes less time," added Dawood.
Pakistan has made major gains when it comes to the export of mangoes with Australia and Japan opening an export facility for Pakistan.
After Australia, Japan approves Pakistan's mango facility for exports
Pakistan also exceeded last year's export target of 80,000 tons for mangoes due to high demand from Japan this year.
The demand from Australia and the approval of two mango treatment facilities in Pakistan by the Australian authorities further increased this year's exports.
The development is a welcome one for Pakistan that is relying on foreign exchange earnings to help manage the widening current account deficit. While the central bank governor, Dr Reza Baqir, has said that it is manageable, the deficit invariably puts pressure on the Pakistani rupee, causing inflation.
Dawood optimistic about $50bn export target prospects
Dawood, earlier, has already said that he is optimistic that Pakistan would hit exports of $50 billion by 2022-23, the year the tenure of the current government ends, a target seen as ambitious by all relevant stakeholders.
However, in a recent interview, Dawood said export diversification, focus on non-traditional sectors and increasing exports to new markets, including Africa, would not only enhance the volume of the country's exports, but would also help to achieve the targets.