Pakistan's trade with Afghanistan and Central Asian countries increase manifold
Islamabad, Hilal Ahmad, September 29, AZERTAC
Pakistan’s bilateral trade with Afghanistan and Central Asian countries has increased manifold in recent years.
The latest figures about the trade between Pakistan and its friendly countries including Afghanistan and Central Asian states has shown an upward trend to $2.41 billion during the current fiscal year. The figures indicate that there was a sharp increase in the trade with these countries from $1.92 billion as compared to last fiscal year.
On the other hand, according to Afghanistan's Ministry of Commerce and Industry, the trade volume between Pakistan and Afghanistan has reached $1.108 billion during the current fiscal year’s first six months. Afghanistan’s main export items to Pakistan included coal, cotton, processed talc stone besides vegetables and fruits. The major imports from Pakistan included rice, cement, Medicines, textiles, clothing, and other small items.
As per the figures, the trade volume between Afghanistan and Pakistan amounted to $1.108 billion, of which $304 million were exports and $804 million were imports. Pakistan is the largest trade partner of Afghanistan; the country is also the largest export destination of Afghanistan.
During the last fiscal year, exports to these countries were recorded at $1.34 billion and imports were $581 million. According to the Pakistani Media reports, the country's exports to these countries have increased to $1.77 billion while imports were recorded at $641 million. Pakistan is considered one of Afghanistan’s largest regional trading partners.
According to economic analysts the trade volume between Pakistan and Afghanistan can be increased by using the Pakistani ports of Karachi and Gwadar, which would benefit both countries. Moreover, the frequent closure of border crossings, custom tariffs besides some other issues needed to be eased to enhance the bilateral trade.
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