Thursday September 28, 2023

LCCI urges measures to increase trade with Afghanistan

By Our Correspondent
June 01, 2023

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) on Wednesday asked the government to devise an export plan to increase the bilateral trade with Afghanistan from its current level of around $5 billion. The plan could be made by taking on board the official quarters, business communities, and customs authorities on both sides to run the bilateral trade in a formal and legal away, LCCI’s Progressive Group stated.

“Having an export plan can be beneficial for both Pakistan and Afghanistan as it can help these countries to identify their key export products and services that have a competitive advantage in international markets,” a central leader of the Progressive Group Muhammad Ejaz Tanveer said. He added that smuggling under different grabs to Afghanistan was being a big hit to Pakistan’s economy. “Enacting a legal framework and plan by Pakistan and Afghanistan will help both economies to overcome these issues,” Tanveer urged.

He further stated that an export plan could help the two countries develop market strategies for their key export products and services. “This can include identifying potential export markets, conducting market research to understand the demand for their products, and developing marketing campaigns to promote their products and services.” An effective export plan can also help in enhancing competitiveness of products of the two friendly countries in international markets, while helping in identifying the areas needed to improve such as quality or branding, according to LCCI official.

“Such a plan can help Pakistan and Afghanistan to increase their exports and foreign exchange earnings, which can have significant economic benefits, including job creation, increased economic growth, and improved balance of payments.” The plan could also be useful for both the countries in developing their export capacity and to take an advantage of the opportunities present in international trade, Tanveer said.