Pakistan and Turkmenistan Seek to Enhance Trade and Economic Ties

Pakistan and Turkmenistan are set to strengthen their economic and trade relationship following a high-level meeting on Wednesday. Turkmenistan’s Ambassador, Atadjan Movlamov, met with Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, to explore ways to deepen bilateral cooperation.

The meeting, held at the Commerce Minister’s office, aimed at advancing discussions on key agreements and identifying new sectors for collaboration. Minister Jam Kamal stressed the importance of increasing business-to-business (B2B) interactions to boost trade volumes between the two countries. He pointed to potential growth areas such as energy, fertilizers, pharmaceuticals, agriculture, and construction materials.

Despite a long history of friendly relations, trade between Pakistan and Turkmenistan remains relatively low. To address this, the focus was placed on expediting the Turkmenistan-Pakistan Transit Trade Agreement, which is expected to enhance the flow of goods, improve banking cooperation, and streamline customs and trade processes.

The Minister also advocated for revitalizing existing agreements, including the 2015 Memorandum of Understanding (MoU) between Pakistan’s Trade Development Authority (TDAP) and Turkmenistan’s Chamber of Commerce and Industry. This MoU is designed to foster trade collaborations, organize joint exhibitions, and expand market access.

Further discussions included the need to review the 2019 MoU for establishing a Joint Business Council, which aims to facilitate direct business engagements. Both sides also discussed improving direct cargo links, addressing trade route issues, and simplifying trade procedures.

The meeting concluded with both countries expressing a strong commitment to increasing bilateral trade and overcoming current challenges to economic cooperation.