LAHORE:Ambassador of Kyrgyzstan Ulanbek Totuiaev has said that broad experience of Lahore Chamber of Commerce and Industry ( LCCI) in business will help in enhancing the business ties between Pakistan and Kyrgyzstan.
He expressed these views at a meeting at LCCI. LCCI President Kashif Anwar welcomed the ambassador to LCCI while LCCI EC members were also present on the occasion.
The ambassador said both countries have historical, cultural and economic relations. Due to international circumstances, most notably the conflict between Ukraine and Russia, which calls for improved economic ties between regional nations as the current state of the world economy is challenging, he added.
The Ambassador said Kyrgyzstan offers great potential of economic cooperation in all fields in more effective and meaningful way. To enhance trade, he suggested, trade activities like trade fares and exhibitions in both countries can help. He said a Kyrgyzstan-Pakistan Trade house to be inaugurated today (December 23) and invited the LCCI office-bearers to participate in the opening ceremony.
He said Kyrgyzstan companies are interested in Pharmaceutical and Agriculture sector of Pakistan. He was of the view that Kyrgyzstan offers great opportunities to invest in more than 30 investment projects. He stressed the need of better banking mechanism between two counties to provide free movement of capital in both countries.
He said that a railway line has been proposed between China, Kyrgyzstan and Uzbekistan which can be expanded to Mazar-e-Sharif in Afghanistan to Peshawar in Pakistan.
LCCI President Kashif Anwar said that LCCI would certainly like to explore ways and find avenues for increasing the trade and economic ties between two countries.
He said Pakistan and Kyrgyzstan are members of important international organizations like OIC, SCO and ECO etc., while both countries have been enjoying friendly as well cordial relations since 1992.
The President LCCI further said that bilateral trade hardly reflects the mutual relations of Pakistan and Kyrgyzstan. One of its reasons is that there are very few items being traded between two countries for the last many years, he said, adding that Pakistan’s imports from Kyrgyzstan are almost negligible, however, some pharmaceuticals and sports goods are being exported to Kyrgyzstan.
Kashif Anwar informed that Pakistan’s total exports to Kyrgyzstan were around 2 million dollars in 2020-21 which inched up to nearly 2.6 million dollars in 2021-22. “We are keen to get better share from total imports of Kyrgyzstan that were around 5.6 billion dollars during last year.”
He said the total imports made by Kyrgyzstan in pharmaceuticals were to the tune of 190 million dollar while Pakistan’s share was just around 1.5 million dollar.
Kashif Anwar said Pakistan has huge potential of exporting various items to Kyrgyzstan. Talking about textiles, Kyrgyzstan imports of articles of apparel are in excess of 350 million dollars.
Meanwhile, the Consul General of Iran, Mohammad Raza Nazeri in his farewell meeting said that Punjab is the cultural, economic and political hub of Pakistan.
President of the Lahore Chamber of Commerce & Industry Kashif Anwar congratulated him for successful completion of his four year tenure.
Reza Nazeri further said that 60 percent of total visas of Iran were given by the Consulate General in Lahore. He said Iran and Pakistan enjoy very cordial relations but the need to further improvement is still there. He hoped that the LCCI President will lead a business delegation to Iran as many small, medium and full scale business delegations have already visited Iran and met high business person in Iran.
LCCI President Kashif Anwar said Iranian Council General have always been showing great respect to LCCI and always kept the doors of the office of Iranian Consulate opened for the members of LCCI.