Pak-Afghan Bilateral Trade To Reach $5 Billion By 2015

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Context

As a result of the meeting of Joint Economic Commission, Pakistan has assured Afghanistan that it will resolve the blockade that hampers trade of perishable items and fuel within the next ten days. Both countries have agreed to hold Joint Economic Commission (JEC) meetings regularly to boost the bilateral economic trade from $2.5 billion to $5 billion within next three years.

Afghan delegation said that it is a misperception that Afghanistan does not welcome Pakistani investment. He said the irritants in Afghan transit trade through Pakistan should be removed as it could have a negative effect on the promotion of bilateral trade.

Pakistan agreed to provide assistance to Afghanistan in the development of hydel power generation on Kabul River, and in gas and oil exploration, while helping with the transmission network.

Meanwhile, Pakistan’s minister for petroleum sought permission for the state owned oil marketing company, Pakistan State Oil (PSO), to start its operation in Afghanistan. Afghan delegation assured complete cooperation to PSO in this regards.

The meeting of JEC reviewed the progress of 29 projects that fall under the $300 million Pakistani assistance to Afghanistan. The setting up of Liaquat Ali Khan Engineering faculty, Nishtar Kidney Center, 2000 scholarships to Afghan students, CASA 1000 and TAPI pipeline project were also discussed.

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