LAHORE: Afghanistan is the third largest trade partner of Pakistan with $5 billion volume of official and unofficial trade.
This was stated by Pakistan-Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) Chairman Muhammad Zubair Motiwala, while speaking at a conference jointly organised by the PAJCCI and the Punjab Board of Investment and Trade (PBIT) to discuss the prospect of increasing and improving trade relations between the two countries.
Motiwala discus the prospect of the current trade situation between Pakistan and Afghanistan and called upon both nations to increase trading activity. He mentioned that both countries have a total of 20 joint business ventures and there is a need for Pakistani exports of automobiles, electronics, furniture, pharmaceutical goods and warm clothing to Afghanistan.
Similarly, Afghanistan can export cement, sugar, iron and agriculture goods to Pakistan” he added.
He also suggested that in order to enhance the trade relations, Pakistan should set up trading zones, free trade areas and offer tax incentives to various businessmen, along with the revamping of Pakistan’s visa system for businessmen.
The Punjab Board of Investment and Trade also partnered up with the PAJCCI to help streamline the various processes and facilitate investment in Pakistan. Various B2B meetings were held between businessmen from both countries.
PBIT Director Projects Khurram Afzal Malik gave a presentation regarding the socio-economic climate of Punjab, which included various metrics and statistics regarding the province such as Pakistan being the 5th largest consumer market in the world and a very young work force and how it is a favourable location for foreign investment.
Some businesses from Afghanistan that were present included Bakhtar Islamic Bank, Azizi Group of Industries and Arman Noori Construction & Co.
