A five member delegation from Tajikistan visited Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) yesterday to tap potential sectors for import and export between Pakistan, China and Tajikistan. The meeting was attended by Nazir Hussain, President PCJCCI, Brig. Mansoor Saeed Sheikh (Retd), Senior Vice President PCJCCI, Zafar Iqbal, Vice President, Salahuddin Hanif, Secretary General and the executive committee members of PCJCCI. The delegation was headed by Daler Qodiri, Chairman of the Board of Directors, Fayz Technology (Group of Companies). President PCJCCI shared during his welcome address that increased bilateral trade can stimulate economic development in both countries Pakistan and Beijing’s broader goal to guarantee regional stability.

Pakistan intends to establish a direct trade route with Tajikistan and gain road access to Central Asian countries by utilizing the corridors of China and Afghanistan. He also added that China is currently Tajikistan’s largest source of foreign investment and a significant trading partner. Tajikistan, on its part, is a keen BRI participant as its difficult terrain and connectivity challenges require major infrastructure and construction investment, the cumulative outcome being better economic integration and boost to trade. Daler Qodiri, Chairman of the Board of Directors, Fayz Technology (Group of Companies) Tajikistan added that According to statistics from China Customs, China-Tajikistan trade volume reached US$1.68 billion in 2019, up 11.21 percent year-on-year.

China exported US$1.59 billion to Tajikistan, up 11.27 percent year-on-year. Tajikistan exported US$85 million to China, up 10.12 percent year-on-year. While trade between the two countries plunged in 2020 due to the COVID-19 pandemic, in the first half of 2021, bilateral trade gradually recovered, registering a year-on-year growth of 44.6 percent. He further added that during the last 5 years the exports of Pakistan to Tajikistan have increased at an annualized rate of 4.88%, from $15.8M in 2017 to $20.1M in 2022. Brig. Mansoor Saeed Sheikh (Retd), Senior Vice President PCJCCI said that bilateral trade between Pakistan and Tajikistan could be beneficial for the two countries because both are developing and naturally resource-rich countries. Pakistan can benefit by exporting worn clothing to Tajikistan, where the demand for worn clothing is very high.

To capture the Tajikistan market and to compete with other countries in this market, Pakistan needs to negotiate a fifteen percent (15%) tariff for the commodity “Potential Trade with Uzbekistan and Tajikistan. Zafar Iqbal, Vice President PCJCCI stressed that work on CPEC-like projects in Pakistan must be expedited along with the Gwadar port because it will connect Pakistan with Tajikistan through Gwadar-Peshawar-Kabul-Kunduz-Dushanbe, Chitral-Eshkhahim-Dushanbe, and Khunjrab-Kalasu-Murghab. Salahuddin Hanif, Secretary General PCJCCI said that Pakistan China Joint Chamber of Commerce and Industry always play a pivotal role in promoting trade and investment between China, Pakistan and other Muslim countries and I hope that Pakistan, China and Tajikistan will prosper together under the projects of BRI and CPEC.

Credit: Independent News Pakistan