ISLAMABAD: Pakistan and Turkmenistan on Thurs­­day agreed to work in various sectors to promote bilateral trade and mutual cooperation on sanitary and phytosanitary (SPS) standards for trade of agri products.

The understanding was reached in the second meeting of Pakistan-Turkmenis­tan Joint Working Group (JWG) on Trade. The Pakistani side was led by Additional Secretary Com­merce (Trade Diplomacy) Humair Karim while the Turkmenistan side was led by Merdan Annagulyyev, the head of department for the Foreign Economic Relations, Ministry of Trade and Foreign Economic Relations.

The two sides agreed to work on mutual cooperation in SPS standards, banking sector, pharmaceuticals, engineering goods, trade dispute resolution and establishing warehouses in Pakistan.

They also agreed to establish joint chamber of commerce and industry, exchange of information on trade, tariff and regulatory regimes and exchange of delegations of professionals and businessmen from information technology sector.

Mr Karim said that the existing bilateral trade is far below the potential. He said holding of meeting of this JWG is manifestation of the desire on both sides to strengthen and increase bilateral trade while removing the hurdles which hamper trade.

He shared the vision of the government to make Pakistan a trade, transit and trans-shipment hub. He also highlighted the importance of Pakistan as a hub for investment due to its access to world markets and ease of doing business.

Published in Dawn, May 7th, 2021