Kyrgyzstan to sign accord with Pakistan in textile sector

YarnsandFibers News Bureau 2015-09-01 16:00:00 – Lahore

Kyrgyz Charge d' Affaires Sagynbek Ibraev speaking at the Lahore Chamber of Commerce and Industry (LCCI) said Kyrgyzstan wants to build strong trade and economic relations with Pakistan and is ready to sign accords in the textile and pharmaceutical sectors. Pakistan is an important country of South Asia and could help Kyrgyzstan to establish relations with Central Asian states. In a bid to promote a two-way trade, an exhibition of the Pakistani textile and pharmaceutical products can be arranged in Kyrgyzstan to attract Kyrgyz customers.

He said that Kyrgyz Republic attaches a great importance to development of economical cooperation with Pakistan. He also said that Pakistani products have great demand in Kyrgyzstan, therefore, Pakistani businessmen should come forward and cash in on the opportunity.

The Kyrgyz Republic has a stable political climate and the government understands that foreign private participation and investment are essential to accelerate development and stimulate the economy. They have a good agreement base between Kyrgyzstan and Pakistan in the area of economical co-operation, he added.

LCCI President Ijaz A Mumtaz on the occassion said that they have been talking about exploiting the untapped potential of trade in Central Asian Republics but no significant results have been produced. The main issue is to transport the tradable items between Pakistan and these republics.

Kyrgyz and China shared a long border. Once the China Pakistan Economic Corridor Project will be completed, it will become much convenient for both the countries to explore each other markets on regular basis.

The volume of bilateral trade between the two countries is hardly US 1.1 million dollars that hardly matched the potential existing in both countries. Very few items are being traded as Pakistan exports pharmaceutical products, electro-medical apparatus, fruit juices and medicinal plants. The imports from Kyrgyzstan to Pakistan are some aircraft parts, synthetic colouring materials and tools.

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