ISLAMABAD: The Pakistan-Turkmenistan Business Forum held its first meeting on Thursday to chart out a clear agenda for policy intervention to boost bilateral trade.

Pakistan delegation was led by Commerce Minister Khurram Dastgir Khan and the Turkmenistan side included representative of Ministry of Trade and Foreign Economic Relations, Atajan Bayramov, Deputy Minister of Agriculture and Water Economy Makstmyrat Atayev, Deputy Minister of Textile of Turkmenistan Nepes Gaylyyev and representative of the Union of Industrialists and Entrepreneurs of Turkmenistan, Tahyr Atahanov.

Mr Gaylyyev said Turkmenistan produced fine quality cotton but the textile industry lacked technological sophistication and did not produce a wide range of textile products.

Pakistan is one of the few countries which has a complete chain of industries required in the textile sector, he noted.

He offered Pakistani businessmen to invest in the textile sector of Turkmenistan and reap investment opportunities which the emerging market presented.

Mr Bayramov said Turkmenistan was looking forward to the renewed efforts by Pakistan to boost bilateral trade and was willing to facilitate Pakistani traders in travelling to Turkmenistan.

The speakers from Turkmenistan also emphasised upon the importance of emerging opportunities in construction, infrastructure and development sectors.

Talking to media following the event, the commerce minister said the dream of a strong inter-regional connectivity between Pakistan and Central Asia was becoming tangible.

The western routes of the China Pakistan Economic Corridor (CPEC) would provide landlocked Central Asian countries the shortest trading route with East Asia, he said.

Mr Dastgir said the Trade Development Authority Pakistan (TDAP) was planning to send a trade delegation of sports goods exporters on the eve of the 5th Asian Indoor Games.

Besides, official participation would also be organised in the International Construction Exhibition in Ashgabat, he added.

A business delegation from Turkmenistan is being invited for attending Textile Expo in Karachi in April, 2016.

To give further momentum to trade, TDAP was also considering plans to organise a Road Show in Turkmenistan in 2016, the minister said.

“Bilateral trade is quite low and it has the potential to improve from the present level of $25 million,” the minister said.

The minister listed several factors which hampered expansion of trade with Turkmenistan including lack of direct cargo links, little knowledge of Pakistani products and visa facilitation.

Pakistan’s accession to the TIR Convention will greatly facilitate Pakistan’s trade with Turkmenistan and other Central Asian states, the minister said.

Published in Dawn, March 18th, 2016