- Web Desk Karachi
- 1 Hour ago
SAARC trade: Afghanistan tops as Pakistan’s leading trade partner
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- Abobakar Khan Web Desk
- Jan 14, 2025
ISLAMABAD: While global countries are making every effort to boost economic and trade activities, South Asian Association for Regional Cooperation (SAARC) nations have failed to make the most of the South Asia Preferential Trade Agreement to promote trade among themselves.
Amidst all this, Pakistan’s trade with SAARC nations exhibited both significant challenges and opportunities.
According to a report of the Ministry of Commerce submitted to the Senate, Pakistan exported goods worth $2,181 million and imported $917 million from SAARC countries during the financial year 2023-24.
The statistics show that Pakistan’s exports to Afghanistan stood close to $1065 million and imports at $539 million, making Afghanistan the top trading partner in the region.
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Trade with Bangladesh also showed positive trends with Pakistan exporting $718 million worth of goods and importing only $42 million worth of commodities.
Similarly, Pakistan exported $386 million worth of goods to Sri Lanka and imported $55 million worth of goods. Pakistan’s exports to India stood at only $0.2 million and imports $278 million due to the strained relations between the two neighbours.
Trade between Pakistan and Nepal and the Maldives remained negligible with Pakistan exporting $2.9 million to Nepal and $3.1 million to the Maldives. Pakistan’s imports from the Maldives stood at $0.1 million.
Trade within the SAARC countries has a strong role in promoting the development of the region through collaborations.
There still exists a great opportunity for Pakistan to expand its trade with Afghanistan which could significantly benefit its economy.
Pakistan can also explore avenues to boost trade with Bangladesh and Sri Lanka for growth and development.