Ashgabat and Islamabad consider boosting bilateral trade
Ambassador of Turkmenistan Atajan Movlamov met with Pakistani Federal Commerce Minister Jam Kamal Khan in Islamabad to discuss expanding bilateral trade and explore ways to enhance cooperation between the two countries, Pakistan media monitor writes.
The meeting, held at the office of the Commerce Minister, focused on finalizing key agreements and exploring new sectors for future cooperation. Minister Jam Kamal stressed the need for strong business-to-business interactions to boost trade between Pakistan and Turkmenistan, noting the untapped potential in various sectors including energy, pharmaceuticals, agriculture, fertilizers and construction materials. Despite long-standing fraternal ties, trade between the two countries remains small and steps to increase it are essential.
A key point of the conversation was the finalization of the Turkmenistan-Pakistan Transit Trade Agreement, which is expected to significantly improve the movement of goods between the two countries.
The agreement will also enhance cooperation in banking, customs and trade transit operations. The importance of reviewing and activating existing agreements such as the MoU signed in 2015 between the Pakistan Trade Development Authority and the Chamber of Commerce and Industry of Turkmenistan was also discussed. This MoU aims to promote trade cooperation, organize joint exhibitions and develop national markets.
There was also talk of revising the 2019 MoU to establish a Joint Business Council, which is crucial to facilitate direct business contacts between the two countries. Other key issues discussed included improving direct cargo links, resolving trade route issues and simplifying procedures.
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