Pakistan and Nepal can achieve quantum leap in bilateral trade while enhancing trade in agricultural commodities as agriculture has special potential for expansion of bilateral trade.
This was stated by Senior Vice-President of Karachi Chamber of Commerce and Industry (KCCI), Shamim A Firpo while exchanging views with Ambassador of Nepal to Pakistan, Bharat Raj Paudyal.
Firpo further stated that Nepal and Pakistan can explore products of comparative advantage favoured by specific climatic zones in both the countries.
He said that the direct air link between Nepal and Pakistan, increased exchange of business delegations and establishment of display centres in each other’s countries will boost the trade ties and enable both the countries to enjoy increased profits. Firpo invited the attention of Nepalese Ambassador towards potential areas of bilateral trade between two countries and said that Pakistan is one of the highest per capita tea consuming countries in the world and Nepal is one of the finest tea producers that can create opportunity for trade between the two countries. He pointed out that in the recent past, Nepal has emerged as one of the best quality producers of coffee and urged upon the Pakistani tea and coffee entrepreneurs to avail advantage of geographic proximity in having these products at competitive price. Firpo articulated that Pakistan and Nepal are situated in the Asian continent and trade between the two can prove to be extremely advantageous considering the low transport costs. Nepalese businessmen are comfortable doing business with their Pakistani counterparts and that Pakistan and Nepal have common national and international perspectives with wide scope and potential for boosting trade and commerce. The volume of trade between Pakistan and Nepal has not reached significant levels due to limited trade operations. During Fiscal Year 2012, Pakistan exported goods to Nepal worth $ 2.31 million while it imported goods worth only $ 1.99 mln which is quite low. The main items of exports from Pakistan to Nepal merely include leather goods, garments, light engineering and electronic goods, Basmati rice, surgical instruments, sports goods, dry fruits, and some other minor items. Imports from Nepal mainly consist of herbs, tea, spices, pashmina, and paper products, he added.
Ambassador of Nepal Bharat Raj Paudyal expressed gratitude and compliments for providing an opportunity to interact with KCCI and exchange views to promote trade between Nepal and Pakistan. He apprised that Nepal and Pakistan hold excellent political relations but the existing trade relations between two countries do not reflect true potential. The Ambassador emphasised the need for exchanging business delegations for enhancing trade and promotion of investment opportunities between Nepal and Pakistan and assured his full support in this regard.
