Mr. Atif Ikram Sheikh, President FPCCI; President ECO-CCI and VP CACCI, has welcomed the high-profile Kyrgyz trade delegation in Pakistan – comprising of senior parliamentarians, diplomats, businessmen and other prominent stakeholders. It is pertinent to note that FPCCI organized the Pakistan–Kyrgyzstan Trade & Investment Forum at its Head Office, Karachi, on Tuesday, amidst increasing interest of trade & industry.
Mr. Atif Ikram Sheikh expressed his satisfaction that the recently held inter-governmental commission between Pakistan and Kyrgyzstan has decided to enhance bilateral trade from the current $16 million to $100 million, as the current level is way below the true potential.
The chief guest of the forum was H.E. Mr. Edil Baisalove, Deputy Chairman of the Cabinet of Ministers of Kyrgyz Republic. He apprised the Pakistani businessmen and industrialists that the Kyrgyz Republic is undergoing rapid industrialization, and it is opening up enormous avenues for joint ventures, investments, trade, and economic cooperation between the two countries.
H.E. Mr. Kylychbek Sultan, Ambassador of the Kyrgyz Republic in Pakistan, informed that Pakistan and the Kyrgyz Republic are working on establishing new trade routes to create a feasible and enabling environment for the bilateral trade to grow.
Mr. Saquib Fayyaz Magoon, SVP FPCCI, stressed that the shortest route from the Chinese city of Kashgar to Kyrgyzstan is about 200 km; and Pakistan is also linked with this province through CPEC; whereas, the two Kyrgyz passes of Torugart and Erkeshtam should be utilized for establishing linkages to the warm waters of Gwadar port.
SVP FPCCI maintained that single-country exhibitions on a reciprocal basis must be arranged to showcase the goods and services for trade, along with frequent exchange of trade delegations. He called for the immediate removal of all trade barriers, NTMs / NTBs, to boost trade and commerce. Additionally, close coordination between national chambers, i.e., FPCCI and CCI-KG, is vital.
Mr. Abdul Mohamin Khan, VP FPCCI & Regional Chairman for Sindh Region, presented Pakistan’s case for ease of doing business in the country as the government has introduced several business-friendly reforms: (i) streamlined company registration and digital tax filing system (ii) 100% foreign ownership allowed in many sectors of Pakistan’s economy (iii) Special Economic Zones (SEZs) with tax holidays, duty-free imports and simplified regulations have been set up.
Mr. Aman Paracha, VP FPCCI, that the apex will endeavor to materialize the points of discussion taken up in the trade & investment forum through follow-up with our counterpart chamber and stakeholders in the business community.
Mr. Asif Sakhi, VP FPCCI, emphasized the need for safe and efficient trade routes, which should be time-saving, cost-effective, and offer scalability, as, given the opportunity, Pakistan can rapidly increase its exports to Kyrgyzstan.
