PESHAWAR – Pakistan and Tajikistan are set to inaugurate a Business Forum in Khyber Pakhtunkhwa (KPK) and the Khatlon region of Tajikistan to boost trade and economic cooperation. The decision was reached during a meeting between Mr. Saidjon Shafizoda Ismoil, Chargé d’Affaires of the Embassy of the Republic of Tajikistan, and Mr. Faisal Karim Kundi, the Governor of Khyber Pakhtunkhwa, at the Governor House on Saturday.
During their discussion, both sides explored avenues for cooperation across various sectors, including economy, trade, investment, energy, education, agriculture, tourism, and culture. The Governor of the KPK expressed provincial leadership’s readiness to attract successful entrepreneurs from the region to invest and collaborate in Tajikistan.
TLTP has learnt, the initiative comes as part of ongoing efforts to strengthen economic ties between the two nations, which have seen fluctuating trade figures in recent years. According to The Observatory of Economic Complexity, Pakistan’s main exports to Tajikistan in 2023 included raw sugar, packaged medicaments, and soap. However, over the past five years, these exports have seen a decrease at an annualized rate of 9.31%. Similarly, Tajikistan’s main exports to Pakistan in 2023 were tanned sheep hides, grapes, and non-retail synthetic filament yarn, while the country’s exports to Pakistan have decreased at an annualized rate of 54.5% over the last five years.
The Pakistan Business Council notes that in 2020, Pakistan’s exports to Tajikistan were valued at $2.1 million, including items like buttermilk, Wilkings, citrus, and pharmaceutical products, while Pakistan’s imports from Tajikistan were approximately $836,000, consisting of textile products and kidney beans.
To address these trends and foster greater trade, both countries are actively working on improving regional connectivity through programs like the Central Asian Regional Economic Cooperation (CAREC) and the Wakhan corridor, as reported by Ground Zero Pakistan. Efforts are focused on removing trade barriers and boosting economic activities. The CASA-1000 energy project, aimed at supplying electricity from Central to South Asia, is also seen as a key element in strengthening bilateral relations.
Further efforts to facilitate trade include the establishment of a joint body on transit trade, as noted by Arab News. Additionally, the two countries have signed various Memorandum of Understanding (MoU) to cooperate in various sectors, including arms sales, according to the Research Society of International Law.
It is pertinent to mention that sources like the World Integrated Trade Solution (WITS) from the World Bank highlighting Tajikistan’s global economic partnerships. The latest available data from WITS indicates Tajikistan’s top export partners are countries like Turkey, Afghanistan, and Russia, while major import partners include Russia, Kazakhstan, and China.
