Pakistan to expand regional trade

Jam Kamal, counterparts discuss export diversification, emerging challenges

ISLAMABAD:

Federal Minister for Commerce Jam Kamal Khan held a series of bilateral meetings with regional counterparts on the sidelines of the Belt and Road Summit, focusing on trade, connectivity, food security and emerging technologies.

The minister separately met his counterparts from Sri Lanka, Bangladesh and Qatar, while also holding discussions with the secretary general of the International Organisation for Mediation (IoMed). The engagements focused on expanding bilateral trade, strengthening regional connectivity and developing greater cooperation in emerging economic and technological areas.

During his meeting with Sri Lanka's Minister for Trade, Commerce, Food Security and Development Wasantha Samarasinghe, both sides explored ways to deepen bilateral trade and economic cooperation, including expansion and greater utilisation of Pakistan's first-ever Free Trade Agreement with the island nation.

The two ministers emphasised the need for enhanced business-to-business and people-to-people exchanges and explored opportunities for closer cooperation in connectivity and infrastructure. The Sri Lankan minister highlighted the growing importance of artificial intelligence and cybersecurity.

Jam Kamal Khan pointed to the increasing role of digitalisation in economic development and said developing countries should explore emerging technologies while simultaneously building their capacity to address associated challenges.

The two sides also deliberated on food security, particularly its impact on poorer and developing nations, as well as the implications of tensions in the Middle East for the global economy and international trade.

Khan thanked Sri Lanka for its support for the reclassification of Pakistani kinnow to gain improved market access. The Sri Lankan minister, in turn, appreciated Pakistan's cooperation regarding Sri Lankan pineapples, avocados and king coconut. Both sides also explored avenues for greater cooperation in infrastructure development.

In a separate meeting with Bangladesh's Minister of Commerce, Industry, Textile and Jute Khandakar Abdul Muktadir, both sides reaffirmed their commitment to strengthening economic cooperation and brotherly relations between Pakistan and Bangladesh.

The Bangladeshi side appreciated Pakistan's commitment to regional solidarity and peace and acknowledged its role in efforts aimed at easing regional tensions. Jam Kamal Khan congratulated the new government of Bangladesh and appreciated its reform ambitions, economic progress and commitment to greater regional engagement.

Recalling his recent visit to Bangladesh, Pakistan's commerce minister highlighted the considerable scope for stronger cooperation, greater economic exchanges and closer ties between the two countries. He referred to Pakistan's rice exports to Bangladesh as an encouraging example of expanding bilateral trade and said there was significant potential to diversify trade into other areas, including textiles.

The Bangladeshi minister expressed interest in exploring avenues for sharing expertise and experiences in developing industries and promoting greater industrial cooperation. Both sides also discussed modern challenges including climate change, food security, cyber threats and the growing use of artificial intelligence.

The ministers agreed that the Belt and Road Initiative and stronger regional connectivity could play an important role in shaping the economic future of the region and creating new opportunities for trade and development.

Jam Kamal Khan also held a meeting with Qatar's Minister of State for Foreign Trade Affairs Ahmad bin Mohammad Al Sayed, during which both sides exchanged views on latest developments in the Middle East and their wider regional and economic implications.

Khan appreciated Qatar's resolve and commitment to maintaining peace and stability in the region. The Qatari minister also acknowledged Pakistan's significant contribution towards regional peace and highlighted the positive impact of its efforts.

Regional connectivity and the Belt and Road Initiative featured prominently in the discussions, with both sides exploring new avenues for transit and trade through the Middle East and Central Asia. The two ministers discussed the potential for connecting Pakistan and Qatar through broader regional trade routes extending through the Middle East towards Turkiye and onwards to Europe.

In terms of bilateral trade, both sides reaffirmed their commitment to exploring new areas of economic cooperation and expanding existing trade volumes.

The commerce minister also met International Organisation for Mediation (IoMed) Secretary General Teresa Chan. She talked about the organisation, established in 2025, and Pakistan's role as a contracting and founding member and its important contribution to the organisation. The meeting explored the growing role of mediation in resolving disputes involving governments and private organisations, with IoMed poised to contribute to peaceful and institutional dispute resolution.

The series of engagements with regional counterparts underscored Pakistan's proactive economic diplomacy at the Belt and Road Summit and its commitment to expanding trade, strengthening regional connectivity, promoting technological cooperation and developing stronger economic partnerships across the region.