Pakistan plans to import three million bales of cotton worth $1.9 billion this year to address its production deficit, stated Ambassador Hasan Zaigham in Kyrgyzstan. The initiative offers new opportunities for Kyrgyz exporters, as the country produces over 600,000 tons of cotton annually.
Highlighting Kyrgyzstan’s economic growth of 9.2% this year, among the highest globally, Ambassador Zaigham underscored the potential for enhancing trade ties between the two nations. He emphasized that regular exchanges of business delegations and participation in trade exhibitions could unlock the untapped potential of bilateral trade.
Despite this potential, the volume of trade between Pakistan and Kyrgyzstan remains limited due to insufficient awareness of business opportunities in both countries.
To address this gap, a Kyrgyzstan-Pakistan Business Forum was held in Bishkek, organized by the Kyrgyz Republic’s Chambers of Commerce and Industry, in collaboration with Kyrgyzstan Trade House Lahore and Pakistan’s Embassy in Bishkek.
The forum brought together a 14-member Pakistani business delegation led by Mehr Kashif Younas, Kyrgyz Honorary Consul in Lahore, and Dr. Shahid Hasan, President of Kyrgyzstan Trade House Lahore. Representatives from various sectors, including pharmaceuticals, textiles, steel, agro-food, logistics, and tourism, attended the event, aiming to foster partnerships and promote bilateral trade initiatives.
It is important to note that in the fiscal year 2023-2024, Pakistan imported approximately 4.2 million bales of cotton in total. Given that the country’s total cotton consumption was around 10 million bales during the same period, imports accounted for about 42% of the total usage.
