How many billion dollars can trade volume increase with South Asian countries? World Bank heard the good news
ISLAMABAD: The World Bank has said that Pakistan has an unexpected opportunity for trade development, which needs to be fully utilized, with Pakistan’s trade volume of $ 23 billion with South Asian countries. $ 67 billion can increase by year to year, to promote public relations with the region, by removing unnecessary non tariff barriers with the region to facilitate the full potential of regional trade, development of groundwater and air communication sources and trade within South Asia. The world needs to be free
BJP leader Leading Economist and recently released report, Sanjay Kutheriya briefed a group of journalists, saying that trade with South Asian countries is 8% of its global global trade, whereas its exports in the region 8 Can increase up to fold. The report issued by ‘Glass Half Fill, Hope for Regional Trade in South Asia’ has highlighted the need for utilizing the full potential of trade in South Asia. Sanjay Kathoriya said that the volume of regional trade in South Asia of Pakistan is $ 5.1 billion, whereas its annual regional trade capacity is $ 39 billion, so the volume of its trade with the rest of the world is $ 67.9 billion.
He said that Pakistan is able to increase the volume of trade with the South Asian countries up to $ 67 billion. He said that removing unnecessary non-tariff barriers with the region to bring the full potential of regional trade. There is a need to promote public-level contacts, develop resources of groundwater and air-conditioning, and free trade within South Asia. On this occasion, World Bank Pakistan’s Country Director, Ilgo Pichamatoo said that Pakistan has a unique opportunity for trade development, which needs to be utilized completely.
He said that there is a need for a system of trade that can reduce the cost of business and overcome its obstacles, will boost investment opportunities and increase the economic growth as a result. Will earn Director of the Macro Economic Trade and Investment, World Bank Caroline Freunde said that Pakistan’s economy showed significant improvement in last year and its GDP rate was recorded at the highest level of 5.8 percent.
He said that this growth was based largely on the settlement, but Pakistan has a strong need for promotion-based policies so that sustainable economic growth can be ensured. He said that the Exchange Rate should be based on the deviation of the real market, keeping the factors like inflation evolution, including inflation, debt and business costs. Meanwhile, according to the statement issued by the World Bank, the total share of GDP in Pakistan and India is 88%, while the volume of trade between the two countries is only $ 2 billion, which has a capacity to increase up to $ 37 billion. Is.