KUWAIT CITY, Jan 8: Pakistan exports to Kuwait increased to $58.355 million in the financial year 2001-02 as compared to $45.815 million during the fiscal 2000-01. And according to the figures available to Dawn, exports from Pakistan during the first four months of the current fiscal year reached $21.801 million.

Pakistan exports to Kuwait included rice, foodstuff, cotton fabrics, canvas, bed sheets, leather products, electrical machinery, fresh fruits & vegetables, etc., while imports from Kuwait are petroleum and petroleum products, steel scrap and chemicals.

The balance of trade has always been in favour of Kuwait due to Pakistan’s bulk imports of oil and oil products.

In the year 1999-2000 the total exports were $40.626 million, which increased to $45.815 million in the year 2000-01. While in the year 2001-02, the exports stood at 58.355 million.

Pakistan ambassador to Kuwait, Shafkat Saeed while commenting on the increase in exports told Dawn that foreign trade was considered to be vital for the economy and “our mission is to further increase Pakistan’s exports to Kuwait.”

He said trade relations between Pakistan and Kuwait were based on mutual trust and benefit. He said in order to boost trade a trade agreement between Pakistan and Kuwait and a protocol of cooperation between Federation of Pakistan Chambers of Commerce & Industry and Kuwait Chamber of Commerce and Industry were signed in 2002.

The ambassador stated the embassy’s team is presently working hard to introduce software from Pakistan, attract Kuwaiti investments and revive its interest in the privatization of state-owned enterprises in Pakistan.