PM to visit Tajikistan to pave way for boosting exports

Both govts are scheduled to sign MoUs, business-to-business deals

KARACHI:

Prime Minister Imran Khan is scheduled to fly to Tajikistan on Thursday in a bid to add another destination to Pakistan’s export market.

During his visit, the prime minister will meet his Tajik counterpart Qohir Rasulzada and discuss opportunities of trade and subjects of mutual interest between the two countries.

He will be accompanied by Adviser on Commerce Abdul Razak Dawood, who had floated the idea for the trip.

The government is focusing on export promotion and import substitution and Dawood has been appointed as the focal person for the purpose.

From the Tajik side, State Committee on Investment and State Property Management Chairman Qodirzoda Sadi has been given the responsibility.

“We should look to grow exports as it is the only way to achieve a sustainable current account balance,” said Topline Securities Head of Research Atif Zafar in comments to The Express Tribune.

Pakistan reported the highest-ever monthly trade deficit in August 2021 when it jumped 144% to $4.23 billion compared to the same month of previous year.

Although exports rose 41% to $2.23 billion in August 2021 on a year-on-year basis, they declined 4.5% over July 2021.

In the first two months of current fiscal year 2021-22, the trade deficit soared 119.9% to $7.49 billion.

Rising import payments mounted pressure on the rupee, which closed at an all-time low of Rs169.12 against the dollar on Wednesday.

Keeping the current situation in view, the government is aiming to enhance exports and curtail inward shipments by promoting import substitution.

During the prime minister’s visit to Tajikistan, he will hold a meeting with the Tajikistan-Pakistan Joint Business Council.

Apart from that, business-to-business (B2B) meetings between delegations of Tajikistan and Pakistan will also take place. The meetings will focus on investment opportunities in Tajikistan and discuss avenues for Pakistan to enhance its exports to the Central Asian Republic.

Published in The Express Tribune, September 16^th, 2021.

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