Pakistan, Afghanistan to boost bilateral trade and investments

Business leaders from Pakistan and Afghanistan have called for launching mutual investment and joint ventures to boost bilateral trade.

Investors held two-day meeting in Dubai, in line with the efforts to bring together business leaders from Pakistan and Afghanistan for strengthening existing business relations between the two countries and to explore new opportunities.

The B2B Event was organised by Pakistan Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) in Dubai under Emerging Pakistan theme and in collaboration with Afghanistan Chamber of Commerce (ACCI), Afghanistan Business Council - Dubai and Pakistan Business Council - Dubai.

During his welcome note, Chairman PAJCCI, Zubair Motiwala highlighted that the intention behind organising such events is to reinforce regional economic cooperation and to boost the bilateral and transit trade between the two countries, a statement issued from the PAJCCI said.

He strongly emphasized that political and business relations should be kept segregated and despite political differences, businesses should be allowed to flourish across borders for the betterment of people of respective countries as well as the region. He also added that if we want prosperity and peace in South Asia and Central Asia, maintaining and improving healthy business relations between Pakistan and Afghanistan need to be of utmost importance to all the stakeholders.

He urged the international community, especially Pakistani and Afghani businessmen based in UAE to invest in Afghanistan and Pakistan as both the countries offer a huge potential to be emerging hubs of business within the region.

Speaking on the occasion, Co-Chairman of PAJCCI, Khan Jan Alokozai stated that Pakistan and Afghanistan not only share the borders but they also share the same religion, history and culture and it is essential that the Governments of both the countries implement such business-friendly policies and procedures that the dream of swiftly moving towards a better tomorrow materializes soon.

He highlighted the efforts made by PAJCCI in raising issues faced by businesses of both the countries and also brought to attention the steps taken by PAJCCI to create awareness between the two countries for attaining mutual benefits in terms of trade, transit, security, peace and prosperity.

While addressing the event, Ahmed Amjad - Consul General of Pakistan stressed the need to capitalize on the potential of the neighboring countries and to co-operate in all the possible sectors especially in health and education.

He emphasised that the time is right for Afghan businesses to invest in Pakistan as evident from the fact that Pakistan has recently risen 28 slots to 108th position in the global ease of doing business ranking this year. He also extended his support to all the businesses that are interested in exploring investment opportunities in Pakistan.

Jeffery Grieco, President Afghan American Chamber of Commerce also addressed the august gathering and provided his perspective on the prevailing business environment in Afghanistan and Pakistan.

He congratulated and appreciated the efforts made by Pakistan on improving its global ease of doing business ranking from 136th to 108th position in just one year. He also added that past few months have proven to be very good for private investment ventures in Afghanistan and recently Afghan American Chamber of Commerce was successful in completing first private energy sector investment which shows that in spite of insecurity and noise on the political side, the businesses can get deals done and in a strategic way.

Grieco further outlined that there are many US companies that are looking for future business opportunities in both the neighboring countries and he also proposed to undertake first USA, Pakistan & Afghanistan business match making conference in Pakistan next year in collaboration with PAJCCI, with focus on the business voice of the three countries working together to boost the regional trade between Pakistan,

Afghanistan and Central Asian countries while also deliberating upon ways in which US companies can Partner with businesses of both the countries to expand into untapped areas of growth and development.

The business leaders across the border critically resolved three major items at the forum.

Firstly, APTTA should be revisited as soon as possible, Governments from both the sides may give mandate to neutrally acceptable organisation like PAJCCI to conduct preliminary investigation on the same from the private sector in respective countries and prepare a comprehensive draft with unanimous solutions to help expedite the process.

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