RCCI urges for new trade avenues and promoting regional trade

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RAWALPINDI, SEPT 7 (DNA) – The Rawalpindi Chamber of Commerce and Industry (RCCI) urged the Government to explore new trade avenues and strengthen regional trade ties. Pakistani products are in high demand in Uzbekistan, Kazakhstan and Tajikistan. Acting President RCCI, Osman Ashraf in a statement said that “The country’s exports can be increased by promoting regional trade. We need to find new markets”.

Pakistan can benefit from greater trade with Central Asian Republics (CARs) which are abundant in Oil, Gas and energy resources. There is a need to sign more transit and preferential trade agreements with these countries, he urged. Half of the world’s population lives in this region. Pakistan, Russia, China, Central Asian countries and SAARC countries can form a new economic bloc, he added.

Acting President Osman Ashraf said that “Exports have been affected by the lockdown, but we have to promote our products through virtual platforms,” . “In the current challenging situation, there is a huge opportunity for us to re-examine our market and products,” he said. Through the virtual platform, chambers can liaise with the government to identify different sectors and industrial zones, as well as sharing information of respective trade sectors with commercial consuls abroad. He said that the bilateral trade volume between Pakistan and CARs is less than a billion dollars and efforts can be put forth and we can double our trade volumes within the next couple of years.

China Pakistan Economic Corridor (CPEC) offers great regional connectivity and integration from South Asia, Central Asia and beyond,” he added. However, he urged that there was a need to improve the banking channel, transportation, road and rail network so that perishable goods could get more sustainability.