Belarus has proposed Pakistan to enhance bilateral cooperation in trade and other sectors particularly in industrial and agricultural sectors. Reciprocally, Pakistan has expressed willingness to give trade incentives to Belarus on equal and mutual beneficial basis and hoped that both sides would hold further meetings to improve cooperation in commerce and trade sectors.
Belarusian ambassador Andrei G Ermolovich, Wednesday, observed that “Pakistan and Belarus should exchange VVIP visits and also to conduct more Joint Trade Committee meetings to improve bilateral trade and also measure the progress on implementation of the roadmap.
In a meeting with Minister for Commerce Mohammad Pervaiz Malik here Andrei G Ermolovich appraised the minister for commerce about the trade between two countries and the opportunities lying ahead that could provide a big boost to the bilateral trade between the two countries.
“Bilateral relations between Pakistan and Belarus have progressed rapidly over the last two years and will grow further with time”, added the ambassador.
Pakistan’s exports to Belarus were US $ 0.6 million in 2015-16 while its total imports from Belarus were worth US $ 28.2 million in 2015-16. The overall balance of trade is in favor of Belarus due to large import of tractors, petroleum, machinery and auto-parts, vegetables and synthetic fiber. Pakistan has the potential of increasing its trade in textiles, foodstuffs, surgical goods, chemicals, pharmaceuticals and mineral products.
Commerce Minister said that the increasing ties between Pakistan and Belarus would certainly provide impetus to further expand bilateral relations in various sectors especially economic, trade & commerce, investment and other areas of mutual interest.
“The two countries have immense potential for economic and commercial relations and the current trade volume could be substantially enhanced, added the minister.
The Minister further said that Pakistan offers excellent opportunities for foreign investors especially as a result of CPEC. Belarusian investors can make use of the incentives provided by the Government of Pakistan and can get benefited from the Special Economic Zones.