Thursday witnessed pivotal dialogues between Pakistan and significant trade partners, Russia and Turkey, orchestrated by Federal Commerce Minister, Jam Kamal Khan. These discussions herald a strategic evolution in bilateral commerce, underscoring Pakistan’s intent to fortify economic ties and expand trade frontiers.
A landmark session with Russian Ambassador to Pakistan, Albert Khorev, saw Minister Jam Kamal exploring mechanisms to enhance bilateral commerce. The discourse centered on augmenting trade connectivity, with both parties keen on discovering innovative channels to bolster economic engagement.
Minister Kamal lauded the initiation of Kinnow exports to Russia via terrestrial routes, envisioning an expansion in trade volumes within this sector. He spotlighted Russia’s expansive market as a beacon of opportunity for Pakistani exporters, promising avenues for growth and diversification. Ambassador Khorev’s invitation to Minister Kamal for forthcoming exhibitions in Russia represents a strategic move towards solidifying economic collaboration.
Proposals for exporting Halal meat from Pakistan to Russia emerged, marking a potential new chapter in trade relations. Operational challenges, such as visa issues for Pakistani truck drivers, received immediate attention, with Ambassador Khorev assuring swift resolution efforts.
Concurrently, discussions with Turkish Ambassador Dr. Mehmet Pacaci underscored the commitment to deepening Pakistan-Turkey relations. Dr. Pacaci’s engagement with Minister Kamal emphasized strategic connectivity enhancements to reach a bilateral trade target of $5 billion, aligning with both nations’ economic ambitions.
Minister Kamal highlighted the rich historical connections and dynamic relations spanning economic, political, defense, cultural, and educational sectors. Celebrating the recent Preferential Trade Agreement (PTA), he expressed optimism for further commerce expansion through upcoming Memorandums of Understanding (MoUs).
Simultaneously, Minister Kamal led a briefing focused on the transformative potential of E-commerce, recognizing its capability to redefine trade, especially at grassroots levels. The session underscored initiatives aimed at facilitating cross-border exporters, empowering freelancers, advancing financial inclusion, digital payments, and global commerce integration.
Strategies for mass digital tool training, international payment gateway collaborations, and digital trade agreement explorations were highlighted, positioning E-commerce exporters for success. The potential integration of Artificial Intelligence in E-commerce operations emerged as a focal discussion point, aimed at boosting efficiency and market competitiveness.
Pakistan’s diplomatic overtures towards Russia and Turkey embody a sophisticated strategy to amplify bilateral trade relationships and capitalize on digital advancements in commerce. By navigating through operational challenges and capitalizing on digital innovations, Pakistan is strategically positioned to become a pivotal player in the global economic landscape, driving prosperity and interconnectedness.
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