KARACHI – Pakistan would establish a cement plant in Tajikistan to enhance bilateral trade of the construction sector. Tajikistan would appreciate the fresh investment plan of Pakistan in the cement importing country, said the visiting Tajik President Emomali Rahmanove on Wednesday.
The Tajik president, while addressing the newly formed “Tajik-Pakistan Business Forum” here at a local hotel, said that one of the important project of the region ‘CASA-1000 power’ was going through the feasibility study, which would complete by May 1, 2011. Under the important project – over 1,100 kilometers of electricity transmission line would be laid from Kyrgyzstan to Pakistan via Tajikistan and Afghanistan with the help of the World Bank.
Having the 60 percent hydropower capacity in the Central Asian region, establishment of hydropower projects like CASA 1000 would not only meet power demands of Afghanistan and Pakistan. He further said that Dushanbe would export electricity to Afghanistan by next year.
He said that both the countries were determined to cooperate in infrastructure development projects, hydropower plants and joint ventures. He stated that Pakistan has exempted all taxes over the investment of hydro-power projects for 2-5 years.
Since diplomatic relations between the countries started in 1992, trade relations between were getting deep rooted and almost a 20 percent hike was observed in the bilateral trade in 2009 compared to statistics in 2007, he said.
Though, after the visit of President Asif Ali Zardari to Dushanbe, a new chapter of relationship opened between the two countries, the pace of enhancement in trade was still unsatisfactory, President Rahmanove added. Addressing a large gathering of businessmen/traders from both sides, he said that such meetings, negotiations and forum would help boost bilateral trade.
Talking about investment opportunities in his country, the foreign president said that Tajikistan, which, according to a report of World Bank, has been ranked the “10th investment friendly country of the world”, was enjoying almost $4.0 billion worth investment from both China and European countries in hydro power and mining sectors. Inviting Pakistani businessmen to his country, President Rahmanove said that Dushanbe was planning to organise two important events this year – one of which was the forth coming Noroz celebrations on March 21, while another one was “20th Independence Anniversary of the foreign country in September 2011.
He informed participants that fruitful discussions have also been made with President Zardari and Prime Minister Yousuf Raza Gilani about the ‘trilateral transit trade agreement’ between Pakistan, Afghanistan and Tajikistan to facilitate Tajik trade from Pakistani seaports. Many proposals, projects which were planned / initiated by the slain leader of ruling party in Pakistan Benazir Bhutto, could have been completed if she had been given the chance and was alive, he added.
Earlier, Tajik Minister for Economic and Trade Affairs Farrukh Hamraliev said that external trade and currency operations in his country have been liberalised, while small and medium business enterprises were fully privatised. He said that the estimated hydro potential of Tajikistan was 527 billion KW per annum – out of which less than six percent of this capacity was currently being used.
The Deputy Chairman of State Committee on Investment of Tajikistan Eshonkulov said that there was a great scope of foreign investment in hydro-resources, mineral wealth of gold and silver deposits, processing of agriculture, wool and leather, cotton farming, vegetable farming and cattle breeding. In a welcoming address Chief Executive of Trade Development Authority of Pakistan (TDAP) Tariq Iqbal Puri said that friendship and partnership between the two countries would reach new heights through increased cooperation in diverse fields, including trade and economy, infrastructure, communication, energy, agriculture and health sectors. He said that TDAP would soon visit Tajikistan with a big business delegation and would look into options to open marketing office there, besides, participating in an exhibition.
Addressing participants which included representatives of almost 33 companies of the foreign country, Board of Investment (BOI) Chairman Saleem Mandviwala said that Pakistan was planning to install the first cement plant in Dushanbe. A Pakistani enterprise was planning to establish the cement plant as a joint venture project, he added.
Pakistani ambassador in Dushanbe Khalid Usman Qaiser said that cement exports to the foreign country increased and Pakistan had exported almost 4000 tonnes last year despite bearing customs duties of Afghanistan and Tajikistan.
Mujeeb Ahmed Shikh of WTO Cell of TDAP said that trade volume, between the two countries, was no more than $35 million – which was very low. However, the trade figure was also not complete as unregistered trade through Afghan border was not being counted. Later, the B to B meeting between representatives of 33 foreign firms and their counterparts in Pakistan were held at the hotel.
Comments are closed.