Need to promote bilateral trade relations between Pakistan and Nepal

Pakistan and Nepal need to focus on the promotion of bilateral business relations ensuring continued partnership for progress. The Ambassador of Nepal Bharat Raj Paudyal addressing the members of Pakistan Textile Exporters Association (PTEA) said that economic ties between the two countries can be enhanced to the best possibility.

Improved regional trade will trigger pace of development in the whole SAARC region. Nepal greatly valued its relations with Pakistan that were based on mutual respect, trust and shared perceptions on regional and international issues.

Sheikh Ilyas Mahmood, Chairman PTEA welcoming Nepal ambassador said that current quantum of trade between Nepal and Pakistan is less than a quarter of the potential. Due to trading restrictions and tariff measures, most of the indirect and unaccounted for trade is routed through the Gulf countries. Formal arrangements of greater direct trade will prove to be useful as it would result in lesser freight and shorter lead time.

He further suggested that frequent exchange of trade delegations, establishment of display centres in both countries would help to further strengthen the trade ties.

With GSP Status granted to Pakistan by European Union, there might be increased trade for semi-finished products to have required value addition in Pakistan.

A large number of textile exporters were present at the occasion.