Regional economic integration with CARs key for development: envoy

Web DeskWeb Editor

23rd Aug, 2021. 12:41 pm

ISLAMABAD: The regional economic and trade integration through the connectivity with the Central Asian Republics (CARs) is key to the development and prosperity in the whole region, a diplomat said.

Talking eminent businessmen and former president of Islamabad Chamber of Commerce (ICCI) Zafar Bakhtawari and Ahsan Bakhtawaria in the embassy of Kyrgyzstan, Ambassador of the Republic of Kyrgyzstan to Pakistan Ulanbek Totuiaev said that peace and socio-political harmony in Afghanistan is significant for prosperity throughout the region, which Kyrgyzstan has also dreamed of, including all countries in the region.

The ambassador said Kyrgyzstan would hold a business forum in the coming months of September in which a 20-member delegation of businessmen and investors from Kyrgyzstan would come to discuss business-to-business relations with the local business community.

It would also include heads of government institutions and people from various sectors, which would help promote investment.

The ambassador said this forum was a milestone for the promotion of trade in the region, adding that the current circumstances has raised hopes for an improvement in the Afghan situation, which would have a positive economic and political impact on the entire region, including Central Asian Republics.

The current Kyrgyz government, under the leadership of President Sadye Japarov, wanted to make a potential start in trade and economic relations with all countries in the region, including Pakistan.

Under this initiative, cooperation between the two countries in all economic sectors would be enhanced, he said, adding that the Kyrgyz government has set up a “Counsel for Investment and Cooperation” to promote trade relations and investment in the region.

The ambassador said it would play its role in providing all kinds of support and protection to foreign investors.

“Our government assures every possible protection to foreign investment,” he said. Kyrgyzstan has vast opportunities for investment in energy, agriculture, mining and minerals, the envoy added.

Pakistan and Kyrgyzstan also have vast trade opportunities in various sectors, including agriculture, horticulture and honey, the ambassador said.

Meanwhile, talking on the occasion, Zafar Bakhtawari suggested that air travel between Pakistan and Kyrgyzstan needed to be facilitated and flight operations would also be enhanced.

He said two flights a week should be operated from three major cities of Pakistan, ie, Karachi, Lahore and Islamabad, to which the Kyrgyz ambassador agreed.

Zafar Bakhtawari assured all possible cooperation for the business forum to be organised by the Kyrgyz Embassy in Islamabad in September.

Peace in Afghanistan would open up new avenues of economic and trade cooperation for the countries of the region, including Central Asia, which are rich in natural resources.

Prominent businessman Ahsan Bakhtawari said that he would visit Kyrgyzstan next month with a business delegation, which would open new avenues for cooperation between the two countries.

More efforts were needed from both sides to boost trade and economic ties between the two countries, he added.

Adsence 300X250