Bilateral trade between Afghan and Pakistan likely to touch $5bn in 2014-15

Afghanistan is one of the major trading partners of Pakistan and has been top exporting market for Pakistani products since ages. The bilateral trade between Afghanistan and Pakistan is likely to touch $5 billion in 2014-15.

Afghanistan is the fourth largest export market for Pakistan after United States, European Union and China. In recent years, trade with Afghanistan has moved from informal to formal sector. In 2000-01, the formal exports to Afghanistan stood at $140 million that grew after a decade to $2.33 billion in 2010-11.

Pakistan and Afghanistan are not only good neighbors but also members of SAARC and OIC. Pakistan is central to Afghanistan’s progress and prosperity and taking a number of measures to this regard. There have been many testing time in history but Pakistan always stood with Afghani brothers.

This was stated by LCCI President Ijaz A. Mumtaz while talking to a delegation of Afghanistan here at the Lahore Chamber of Commerce & Industry on Saturday.

Head of the Afghan delegation Dr. Anwar said that Pak-Afghan relations are getting stronger with every passing day. The Chambers of Commerce in Pakistan and Afghanistan would have to play their role for strengthening the economic ties between the two countries.

He said that Afghanistan had huge untapped natural resources and a joint venture between businessmen of Pakistan and Afghanistan could pave way for a win-win situation.

Upward trend in imports has been witnessed from Afghanistan but they must endeavor to open up new avenues for increasing formal channel of trade.

He said that smuggling has been one of the long standing issues between two countries. Through plugging smuggling points, they can create opportunity for both the governments to earn greater national exchequer in the form of taxes and duties.

Pakistan’s exports to Afghanistan are wheat, sucrose, soap, tea, footwear, carpets, paper & paperboard, pharmaceutical goods etc. While, major imports from Afghanistan to Pakistan are carpets, textile floor covering (knotted), seeds of anise, guts/bladders/stomachs of animals etc.

Afghanistan is the only country allowed by Pakistan to export its goods through Wagah to India.