LAHORE: Chairman of Kyrgyzstan Trading House (KTH) Meher Kashif Younis said on Sunday that exports of pharmaceuticals, agricultural products, dried fruits and leather goods to Kyrgyzstan offer 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 that Pak exported USD 15.95 million worth of pharmaceutical, agricultural, dry fruits and leather products during the first ten months of 2023, which is not
up to the 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 $3.3 billion, up 46.8 percent from 2022, while imports rose 26 percent to $12.4 billion.
The KTH chairman said China was Kyrgyzstan’s main trading partner in 2023, accounting for 34.7 percent of Kyrgyzstan’s foreign trade, but Pakistan’s share was negligible. He mentioned that trade with member states
The Eurasian Economic Union accounted for 27.8 percent of the country’s total trade volume.
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According to him, Kyrgyzstan, which is located in Central Asia, is a country with a developing economy and a growing demand for various goods and commodities. Medicines are a vital part of any country’s healthcare system, and Kyrgyzstan is no exception. Exporting pharmaceutical products to Kyrgyzstan can help improve access to essential medicines, improve healthcare infrastructure and ultimately support better public health outcomes.
He said pharmaceutical companies can penetrate the Kyrgyz healthcare market and establish long-term partnerships with local distributors and healthcare institutions.
He said that Ambassador of Kyrgyzstan Ulanbek Totujaev in Pakistan was playing a key role in promoting and strengthening bilateral trade, besides sponsoring Kyrgyz business houses in Pakistan.
Meher Kashif Younis said that the export of agricultural products, dried fruits and leather goods to Kyrgyzstan has huge potential for economic and local industrial growth and strengthens bilateral trade relations between exporting countries and Kyrgyzstan. By identifying market opportunities, navigating regulatory requirements and establishing strategic partnerships, exporters can take advantage of Kyrgyzstan’s evolving consumer preferences and contribute to the country’s socio-economic development, he concluded.
