Joint efforts urged to lift Pak-Afghan trade

Trade can grow manifold if banking channels are established

LAHORE:

Businessmen of Lahore have said that despite historical socio-economic relations between Pakistan and Afghanistan, the bilateral trade volume does not reflect the true potential, so joint and concrete steps must be taken to boost commerce.

While meeting an Afghan trade delegation, led by Afghanistan Chamber board member and Pakistan-Afghanistan Chamber Co-President Khan Jan Alokozai, at the Lahore Chamber of Commerce and Industry, LCCI President Kashif Anwar stressed that there must be good trade relations with neighbouring countries.

He said that exchange of trade delegations between the two countries was important and understanding each other’s culture would increase trade.

He pointed out that the information technology sector in Pakistan was developing with every passing day.

Anwar said that trade between Pakistan and Afghanistan was $522 million with room for improvement. “If banking channels are established, the trade volume can increase manifold.” There is potential for ramping up trade ties in the fields of pharmaceutical, carpets, rice, auto parts and others. The Ministry of Commerce has recently issued an order for barter system, which will promote mutual trade.

Speaking on the occasion, Afghan delegation head Khan Jan Alokozai said they were willing to increase trade with Pakistan as “both countries need each other now more than ever”. He pointed out that 70% of trade between the two countries was being done through Lahore, from where pharmaceutical products, rice, auto parts and other items were exported to Afghanistan.

Published in The Express Tribune, April 21^st, 2024.

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