Silk Route Reconnect initiative increases Pakistan’s exports by 39.43% to CARs
ISLAMABAD, Jan. 8 (Gwadar Pro) - Due to Silk Route Reconnect initiative of the Ministry of Commerce, Pakistan’s exports to the Central Asian Republics (CARs) in 2020-2021 was increased by 39.42% to reach $145 million, from $104 million of exports in 2019-2020.
Abdul Razak Dawood, Adviser to Prime Minister of Pakistan for Commerce and Investment, revealed these figures on Friday in a twitter Message. He said that Silk Route Reconnect was bearing fruits and added that during July-December 2021 exportswereincreased by 173% to $134 million from $49 million in same period of previous year.
Mr. Dawood said that the Trade & Investment Conferences were held in Uzbekistan and Tajikistan in 2021 where opening of banks in each other’s countries was discussed. According to him, the Pakistan-Uzbekistan Transit Trade Agreement was signed in 2021 at Tashkent.
“We are negotiating Preferential Trade Agreements (PTAs) with Flag of Afghanistan Azerbaijan and Uzbekistan,”he said, adding that Transit Trade Agreements are also being negotiated with Azerbaijan, Kazakhstan, Afghanistan, and Tajikistan. According to the minister, for truck movement, they are now at “advanced stage”.