LAHORE: Ullanbek Totuiaev, the ambassador of Kyrgyzstan, has emphasised the need of giving trade, economic connections, and investment first priority. He claims that strengthening ties in these sectors will benefit both countries equally.
The envoy highlighted the strong historical, religious, and cultural links between Kyrgyzstan and Pakistan during his speech at the Lahore Chamber of Commerce and Industry (LCCI), noting the great potential for bilateral collaboration in a range of fields.
He mentioned that Meher Kashif Younis, the former senior vice president of the LCCI, had been chosen as the honorary consul general of Kyrgyzstan, and that the opening of the Kyrgyz Trade House in Lahore was being welcomed as a move in the right direction towards improving bilateral relations.
The ambassador described Kyrgyzstan’s favourable economic environment and its lax laws, which draw in foreign capital and enable major projects.
He believed that joint business forums had played a significant role in promoting cooperation, and that more forums will be established in the coming year to encourage the involvement of large corporations. Although Kyrgyzstan has expressed interest in a number of industries, including textiles from Pakistan, pharmaceuticals, and agriculture, there are still obstacles to overcome, such as price competition with other markets.
The two parties talked about attempts to increase pharmaceutical exports to Eurasia while taking into account disruptions in traditional supply chains brought on by conflicts in adjacent regions.
To promote commercial and economic ties, the Kyrgyz embassy in Lahore pledged to give the Chamber extensive information on industries including as agriculture, food production, and energy.
In addition to discussing logistical issues, such as border closures between Pakistan and Afghanistan, the ambassador emphasised the importance of the quadrilateral transit trade agreement between China, Kyrgyzstan, Kazakhstan, and Pakistan.
He applauded efforts like the route through Karakoram managed by the National Logistics Company (NLC), which greatly shortened journey times.
Moreover, he welcomed Pakistan’s participation in the project through Afghanistan and underlined the ongoing construction of railway connections between China, Kyrgyzstan, and Uzbekistan.
During the conference, Pakistan and Kyrgyzstan are members of significant international groups such as the Economic Cooperation Organisation (ECO), Shanghai Cooperation Organisation (SCO), and Organisation of Islamic Cooperation (OIC), according to LCCI President Kashif Anwar.
Pakistan’s exports to Kyrgyzstan were estimated by the State Bank of Pakistan to be around $2.6 million in 2021–2022 and $9.9 million in 2022–2023. Pharmaceuticals accounted for the majority of exports. However, Pakistan’s imports from Kyrgyzstan were quite little.
