Want confused to unlock regional financial potential

ISLAMABAD – President SAARC Chambers of Commerce and Trade Iftikhar Ali Malik on Sunday confused the necessity for unlocking potentials of regional financial cooperation and integration to spice up commerce amongst SAARC members’ international locations particularly with Afghanistan at this important juncture.

Speaking to a delegation of merchants led by Muhammad Saddique Kamboh, he stated inter regional commerce in South Asia is lower than one third of its potential which signifies 67 % of commerce will not be being absolutely exploited. Different members of the delegation included Muhammad Adrees, Muhammad Nadeem, Muhammad Shafique and Muhammad Naeem.

He stated position of Afghanistan as a connector and as land bridge between Central Asia, the Center East and South Asia must be reviewed in prevailing state of affairs to primarily give attention to promotion of commerce and funding.

He stated even right this moment, Afghanistan is seen as a viable doorway to South Asian international locations for direct entry to grease and gasoline of republics of Tajikistan, Turkmenistan and Uzbekistan.

He stated higher commerce ties will assist promote financial development and to eliminate abject poverty within the area particularly in Afghanistan thus enhancing its cross border and transit commerce with neighbouring international locations.

He stated poor commerce facilitation at borders and prevalence of quite a lot of non tariff limitations are main hurdles in additional enhancing mutual commerce manifolds with Afghanistan.

Iftikhar Ali stated in the meanwhile what we want is whole upgradation and strengthening of current facilitation, dealing with and clearance of transport and commerce on the Pak-Afghan land borders apart from consolidation of initiatives taken by new regime of Taliban. 

He stated Pakistan after Iran and China is the third largest buying and selling associate of Afghanistan which exports cement, prescribed drugs merchandise, sulphur, stone, plaster, peel of citrus fruit, melon, vegetable fat, edible fruits and oil and so on.

He stated Afghanistan’s primary exports are carpets and rugs which accounts for 45 % of whole exports, whereas dried fruits constitutes 31 %, medicinal vegetation 12 %. 

He stated primary export companions are Pakistan 48 %, India 19 % and Russia 9 % different embrace Iran, Iraq and Turkey.

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