LAHORE - Kyrgyzstan Trade House (KTH) Chairman Meher Kashif Younis said on Sunday that exporting pharmaceuticals, agricultural products, dry fruit and leather goods to Kyrgyzstan offers a promising opportunity for economic growth and international trade relations.
Talking to a delegation of exporters and Importers led by Faran Shahid here, he said Pakistan exported pharmaceutical, agricultural, dry fruit and leather products of $15.95 million during the first ten months of 2023 which is not up to existing potential. Meher added that in 2023, Kyrgyzstan’s foreign trade turnover increased by 29.9 percent ($15.7 billion) compared to the previous year. Kyrgyz exports reached up to $3.3 billion, a 46.8 percent increase, compared to 2022, while the imports grew by 26 percent to $12.4 billion.
The KTH chairman said that China was Kyrgyzstan’s top trading partner in 2023, accounting for 34.7 percent of Kyrgyzstan’s foreign trade but Pakistan’s share is negligible. He mentioned that trade with the member states of Eurasian Economic Union accounted for 27.8 percent of the country’s total trade volume. He said Kyrgyzstan, located in Central Asia, is a country with a developing economy and a growing demand for various goods and commodities. Pharmaceuticals constitute a vital component of any nation’s healthcare system, and Kyrgyzstan is no exception. Exporting pharmaceutical products to Kyrgyzstan can contribute to improving access to essential medications, enhancing healthcare infrastructure, and ultimately, fostering better public health outcomes.
He said pharmaceutical companies can tap into Kyrgyzstan’s healthcare market and establish long-term partnerships with local distributors and healthcare institutions. He said Ulanbek Totuiaev, Ambassador of Kyrgyzstan to Pakistan, is playing key role in promoting and strengthening the bilateral trade, besides patronising the Kyrgyzstan Trade Houses in Pakistan. Meher Kashif Younis said that exporting agricultural products, dry fruits, and leather goods to Kyrgyzstan holds immense potential for economic and local industrial growth, and strengthen bilateral trade relations between exporting countries and Kyrgyzstan. By identifying market opportunities, navigating regulatory requirements, and establishing strategic partnerships, exporters can capitalize on Kyrgyzstan’s evolving consumer preferences and contribute to the country’s socio-economic development, he concluded.