BLOG

Blog 1

Pakistan and Uzbekistan are about to

conclude a trade agreement
On Thursday (July 15), Pakistan and Uzbekistan will sign a Transit Trade
Agreement (TTA) in Tashkent, allowing them to use each other’s facilities for
transshipment of their goods.

The signing event will be seen by Prime Minister Imran Khan, who is also the In-
Charge Minister for Commerce. The TTA will allow products, cars, and drivers to
travel by rail and road in Uzbekistan and its border points with neighbouring
Central Asian Republics (CARs). Except for India, Pakistan will provide similar
services.
The first consignment on the TIR left for Uzbekistan via Torkham border customs
station on April 30, 2021.

According to the sources, Uzbekistan already has a Transit Trade Deal with
Afghanistan, while Pakistan has its own agreement with Afghanistan, implying
that after the agreement is signed, products will flow freely.
Both nations are nearing completion on a Preferential Trade Agreement (PTA), but
Tashkent is not yet ready to sign it, claiming reasons for the delay.

President Shavkat Mirziyoyev of Uzbekistan and Prime Minister Imran Khan of Pakistan
conducted their first virtual summit on April 14, 2021. Uzbekistan’s President has issued
an invitation to Prime Minister Imran Khan to attend a high-level international
conference on regional connectivity in July 2021.
They committed to increase bilateral trade volume by implementing collaborative
initiatives such as diversifying trade, expanding business-to-business interactions,
exchanging trade delegations, and simplifying visa requirements.

It was also addressed the need of holding the Uzbekistan-Pakistan business week and
conference in Tashkent in July 2021. Over eight dozen businessmen will also attend the
conference, according to official sources, and will have B2B meetings with trading
counterparts.

Pakistan and Uzbekistan are roughly 1,295 kilometres apart geographically. The distance
between Karachi and Tashkent, on the other hand, is approximately 2,950 kilometres,
while the distance between Lahore and Tashkent is approximately 1,917 kilometres.

BLOG 2

In FY21, Pakistan exports the most

products
Pakistan’s goods exports hit a new high of $25.3 billion in fiscal year 2020-21,
surpassing the previous high of $25.11 billion in 2013-14, according to Advisor to Prime
Minister on Trade and Investment Abdul Razak Dawood.

Dawood congratulated Pakistani exporters on their achievement in a series of tweets on

Thursday. “It was our exporters who did it!! It brings me great pleasure to report that our
goods exports for FY 2020-21 are expected to reach $25.3 billion,” the advisor stated.

According to figures from the Pakistan Bureau of Statistics (PBS), Pakistan’s exports
declined by 6.81 percent in fiscal year 2019-20, totaling $21.394 billion.

The news is a huge relief for Pakistan, which is trying to deal with a growing current
account deficit and the pressure of repaying multibillion-dollar debts to international
lenders.

According to the research director, the textile industry has been a significant contributor,
accounting for more than half of the country’s exports. “The much-anticipated
government’s Textile Policy would boost the sector even more, providing exporters with
a clear roadmap for the long-term.”
Meanwhile, Pakistan’s goods exports for the month of June FY21 were $2.7 billion, the
biggest monthly total in the country’s history. According to advisor Dawood, the
previous high was $2.6 billion in September 2013.
Exports of products and services are expected to top $3 billion in June 2021, according to
the Ministry of Finance’s latest monthly economic outlook.

BLOG 3

Vendors of auto parts seek government

assistance in expanding their businesses

Auto part vendors, which provide various components and products to original equipment
manufacturers (OEMs), have requested the government to assist in the expansion of this
area of the business.

This sector, like all other industries, is reliant on government policies. Stakeholders
demanded a clear policy with details of incentives and potential rewards before spending
a large sum of money in the car parts industry.

According to industry stakeholders, there is no long-term policy in place to preserve the

investment of roughly 400 auto vendors in Pakistan, who now generate around Rs120
billion per year for three OEMs.
“Auto parts makers are taking a significant risk by investing in this fast rising sector,”
Majid Nawaz, Chief Operating Officer of Ravi Auto Sundar, said.

BLOG 4

Pak-Afghan trade agreement extended for

another 6 months
The signing ceremony was held over video link on Thursday, simultaneously at Kabul and
Islamabad. The secretary, Ministry of Commerce, was also present on occasion. Representatives
of both Embassies in respective capitals also attended the event.

Speaking on the occasion, Dawood said that his vision for trade and economic relations with
Afghanistan and Central Asian Republics (CARs) makes Pakistan a hub for trade, transit and
transshipment.

“Our trade must be based on secure, open, consistent, reliable & legal movement of goods at the
Afghan border along with enhanced connectivity with Afghanistan and CARs”, he said.

He said that this is a long-term vision and through our current engagement with Afghanistan and
Uzbekistan, we are laying down the foundation for its implementation. This will ensure that
Pakistan leverages its geo-economic location in the region to enhance its international trade.

“Our discussions with Afghanistan and Uzbekistan are a step in this direction,” he said.

Both sides expressed satisfaction with an extension of the agreement and decided that the
technical teams of the two countries will conclude the revised agreement soon.

BLOG 5

PIA to Start Ali Sadpara Air Safari from

12th June to Promote Tourism
In a new effort to promote Pakistani tourism, the government airline, PIA will launch
Sadpara Air Safari in a few weeks.

From 12th of June, you can book a flight from Islamabad and fly over K2, Nanga Parbat,
Deosai, and other mountains before landing in Skardu.
You will be taken to Shangrila Hotel for a complimentary hi-tea after admiring Pakistan’s
beautiful beauty. After landing, the flight returns 2 hours later. You have the option of
returning on the same flight or changing to a different one at your convenience.

This is another great step which will help Pakistan to grow, this time without the need for
loans or aid.