ISLAMABAD: Minister for Industries and Production Rana Tanveer Hussain here on Monday highlighted the importance of expanding bilateral trade relations with Belarus specially in the industrial and agricultural sectors.
The minister stressed the need to explore ways and means to increase the industrial cooperation between the two countries in diverse fields.
During a meeting with Belarusian delegation, which was led by Minister for Industries Aliaksandr Yafimua, Rana Tanveer said Pakistan has considerable export potential with Belarus for items like inflatable footballs, articles of bedding and similar stuffed items, sports and outdoor games equipment, footwear, rubber, plastic and metal products, said a news release.Pakistan’s cuisine
During the meeting, both sides reaffirmed their commitment to advancing the partnership between Pakistan and Belarus in multifaceted areas.
Highlighting the trade potential, Minister Yafimua shared that Belarus imports goods worth $17.2 billion annually, noting that Pakistan’s current share in this trade is not reflective of its true export potential.
He said that Pakistani products will be given space in the Belarusian market. He identified key products that Pakistan could export to Belarus, including inflatable footballs, bedding items, sports and outdoor equipment, footwear, and rubber, plastic, and metal goods.
Rana Tanveer discussed cooperation in the field of agricultural machinery and tractor manufacturing plants, following which the delegation showed keen interest in the production of agricultural machinery and establishing tractor plants besides technology transfer under Joint Ventures (JVs).
The minister extended invitation to the Belarusian counterpart to start a pilot project on agricultural productivity enhancement in Pakistan.
Similarly, he said M/s Millat Group dealing with agricultural machinery wanted a JV for manufacturing agricultural equipments in Pakistan. During the meeting, both sides also deliberated on the prospects of Belarusian investment and JVs in the area of electric vehicles (EVs).
Rana Tanveer said that around thirty-one companies have issued manufacturing licenses by the Engineering Development Board (EDB) enabling them to produce two/three-wheeler EVs in Pakistan and the production figures are steadily rising.Pakistan’s cuisine
He said that the National Electric Vehicle Policy 2019 set ambitious targets of 50% reduction of the country’s projected emissions by 2030 and to convert 30% of vehicles to Electric Vehicles (EVs), 50 % of bikes to be e-bikes by 2030.
For faster adoption of EVs and development of EV ecosystem, the government is considering to establish an EV Cell and also to launch a subsidy scheme for E-Bikes to promote EVs in the country.
They also discussed the opportunities to enhance cooperation between the countries in the Small and Medium Enterprises (SME) sector. Currently, joint collaboration between the Small and Medium Enterprises Development Authority (SMEDA) of Pakistan and the Belarusian Fund for Financial Support of Entrepreneurs is under consideration.
The second meeting of Pakistan-Belarus Joint Working Group (JWG) was held on November 16, 2017 at Grodno, Belarus where an agreement on Industrial, Scientific and Technical Cooperation between both countries was signed.
At present, the draft of the agreement is again being revisited by the both countries for the re-signature as the Belarusian concurrence on it is awaited. Once the Belarusian concurrence is obtained, a summary to the cabinet might be moved for soliciting approval of re-signing of the same at the earliest possibility.
Both sides agreed to call meeting of the joint working group at the earliest to explore mutual areas of cooperation and finalised a plan to expedite the process in different areas of cooperation.
The meeting concluded with a mutual resolve to explore and capitalize on the untapped potential in trade and industrial collaboration between the two nations.
