ISLAMABAD: President SAARC Chambers of Commerce and Industry Iftikhar Ali Malik has said that bilateral trade between Pakistan and Afghanistan has a vast potential of $8 billion to 10 billion annually which could not only be achieved comfortably during the new regime of Taliban but could surpass conveniently if all hurdles impeding the smooth flow of trade were removed by either sides with mutual consultations.
Talking to a delegation of exporters led by Ms Ayesha Shafique, he lamented earlier Afghanistan government ignoring Pakistan without any plausible reasons was inclined towards India and now the situation was altogether changed, said a press release issued by SAARC CCI on Sunday.
The joint ventures in various sectors of economy will restore the confidence of local and foreign investors, he said adding that Taliban soon after taking control lowered the domestic taxes on 153 products including food items to boost the morale of Afghan people.
He said it’s good omen that Taliban regime also abolished tax of Afghani Rs 40, 000 per Pakistani truck entering Afghanistan and also made easy clearance to boost trade between two Muslim states besides stamping out menace of corruption at all boarder crossing points.
Iftikhar Ali Malik said that Pakistan’s exports to Afghanistan fell 5.5 percent from $790 m to $746m during the last nine months of fiscal year 2021 which he added will now shoot up because trade with India is so far banned, adding that number of scanners at the Torkham boarder crossing needs to be doubled from two to expedite goods handling.
He said poor trade infrastructure at boarder crossing points was also to upgraded on modern scientific lines to ensure uninterrupted flow of trade volume. He said Afghanistan was a good market for Pakistani products and fair trade will also to do away with smuggling which inflicted damage to economy.
He said that Pakistan can capture whole of Afghan markets provided government announce package of special incentives to exporters to compete neighboring countries.
He said Afghanistan Chambers of Commerce and Industries (ACCI) President Muhammad Younas Khan Momand has also been assured full cooperation by SAARC Chamber.
He said in 2012 the bilateral trade between the two countries had reached to $3 billion but later due to security and political reasons it dropped to $1 billion, but now it was again on the rise.
Iftikhar Malik said Afghanistan imports electrical goods, steel, cement, bricks, clothes, Kino, banana and other edible items from Pakistan while Afghanistan exports fresh and dry fruits to Pakistan.
He, however, termed peace in Afghanistan as the “foremost factor” to materialize such a vision of prosperity.