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Afghanistan-Pakistan to extend transit trade agreement

in Afghan Business

Afghanistan-Pakistan to extend transit trade agreement

Sunday, President Karzai and his Pakistan counterpart, Asif Ali Zardari, agreed to extend the two nations’ transit trade agreement to Central Asia, which can potentially boost up bilateral and regional trade.

The decision was taken on the sidelines of the NATO Summit in Chicago. Both sided will work out the modalities of the decision.

Zardari stressed upon the implementation of certain projects, such as the TAPI gas pipeline, CASA-1000, Reconstruction Opportunity Zones and rail and road connectivity, for the purpose of long term regional economic engagement.

In the 45min meeting, Zardari drew attention of Karzai to the issue of visa for Pakistani businessmen and investors and asked for facilitating visa regime for them to attract them to invest in Afghanistan. Zardari touched upon the recent incidents of detention of Pakistani businessmen and professionals visiting Afghanistan and urged Karzai to look into it.

A landlocked country, Afghanistan is highly dependent upon transit countries for its foreign trade. Situated in the South-east of Afghanistan, Pakistan serves as the main access to a seaport for Afghanistan. At the same time, due to its strategic geographic position, Afghanistan has the potential for becoming a land linked country providing Pakistan with direct routes to the Central Asia Region as well as being a regional hub for trade and transit between Central and South Asia, the Middle East and China, a role which the country has played historically.

 



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