KARACHI: Pakistan-Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) has suggested making Pak-Afghan transit trade part of China-Pakistan Economic Corridor (CPEC) to facilitate local traders accessing Central Asian markets, a statement said on Friday.
PAJCCI President Junaid Makda said that Afghani and Pakistani traders involved in bilateral trade are not much aware about the transit trade facilities under CPEC.
“Nevertheless, under CPEC with enhancement of facilities for Pak-Afghan Transit Trade, Pakistani traders can gain easy market access to Central Asian Republics via Afghanistan,” he added.
Pak-Afghan transit trade volume has declined to $1.6 billion during the current fiscal year, while increased transit trade from India with Afghan traders through Chahbahar Port would result in further decline in Pak-Afghan transit trade, he added.
Bottlenecks and problems are increasing in respect to Pak-Afghan bilateral trade, traders from the two countries said. Traders from Afghanistan and Pakistan are also ambiguous and unaware about the facilities of transit trade from Chaman and Torkham borders under the CPEC project, he said.
During 2009 to 2012, Pak-Afghan bilateral trade decreased 46 percent; however, after agreement of Pak-Afghan transit trade in June 2012 and implementation thereof in the middle of 2014/15, bilateral trade increased 65 percent to $2.5 billion.
Thereafter due to political estrangement between the two countries, India took advantage, while providing more facilities to Afghan traders and facilitating trade through Chabahar Port due to which Pak-Afghan trade declined sharply.
Makda claimed that Pak-Afghan trade volume can be multiplied to $7.5 billion and employment opportunities can be created directly and indirectly for 100,000 Pakistanis, if trade is separated from politics.
“This enhancement in Pak-Afghan trade will also support bridge the trade deficit because the two countries on January 21, 2016 signed the United Nation’s Convention on International Transport of Goods under the cover of TIR Convention,” he added.
He lauded Pakistan, China and Afghanistan foreign ministers for negotiations to ease the Pak-Afghan political estrangement, enhance trade, increase security option and counter-terrorism activities and offered PAJCCI's services and support in this regard.