Both sides believe that the current trade level is much below the potential
Second meeting of Pak-Turkmenistan Joint Working Group on Trade place which was co-chaired by Pakistan’s Ministry of Commerce Additional Secretary (Trade Diplomacy) Humair Karim, and Turkmenistan’s Head of Department of Foreign Economic Relations, Ministry of Trade and Foreign Economic Relations Merdan Annagulyyev. Senior officials from both governments were also a part of the proceedings.
Additional Secretary (Trade Diplomacy) said that the two countries have maintained strong relations. He added that Pakistan’s government values its relations with Turkmenistan. However, the current trade between the two sides is much below potential and can be significantly improved. existing bilateral trade is far below the potential. Hurdles to greater trade need to be removed in order to achieve that. He added that Pakistan is an investment hub due to its ease of doing business.
Annagulyyev expressed his pleasure on holding the meeting of JWG on trade and the interest of Pakistan to enhance trade relations with Turkmenistan. He reciprocated the same desire from the Government of Turkmenistan.
The two sides agreed to work on mutual cooperation in SPS standards for trade of agro products, banking sector, Pharmaceuticals, Engineering goods, Trade Dispute Resolution, establishing warehouses in Pakistan, establishing 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.