Global Rice News

Lahore Businessmen Stress the Need for Boosting Trade with Afghanistan

Businessmen in Lahore have expressed their concern over the underwhelming bilateral trade volume between Pakistan and Afghanistan. They believe that stronger efforts should be made to enhance trade relations and tap into the true potential of this socio-economic partnership. During a meeting with an Afghan trade delegation, led by Khan Jan Alokozai, a board member of the Afghanistan Chamber and the Co-President of the Pakistan-Afghanistan Chamber, Kashif Anwar, the President of the Lahore Chamber of Commerce and Industry (LCCI), emphasized the importance of fostering good trade relations with neighboring countries.

Anwar highlighted the significance of exchanging trade delegations between Pakistan and Afghanistan, stating that it would deepen understanding of each other’s culture and ultimately lead to an increase in trade. He also acknowledged the rapid development of Pakistan’s information technology sector.

The current trade volume between Pakistan and Afghanistan stands at $522 million, with immense scope for improvement. Anwar believes that establishing proper banking channels will be a catalyst for exponential growth in trade. He identified potential areas for increased trade ties, including pharmaceuticals, carpets, rice, and auto parts. Recently, the Ministry of Commerce has introduced a barter system order, which aims to promote mutually beneficial trade.

During the meeting, Khan Jan Alokozai, the head of the Afghan delegation, expressed their willingness to strengthen trade relations with Pakistan. He emphasized that both countries depend on each other now more than ever. Alokozai highlighted that 70% of trade between the two countries is currently conducted through Lahore, with the city serving as a hub for exporting pharmaceutical products, rice, auto parts, and other goods to Afghanistan.

This article was originally published in The Express Tribune on April 21, 2024.

Source: The Express Tribune