A Pakistani enterprise plans to establish first cement plant in Tajikistan as a joint venture project. This was stated by Chairman Board of Investment (BoI), Saleem Mandviwalla, in his address to the Business Forum of entrepreneurs of Pakistan and Tajikistan here on Wednesday. The President of Republic of Tajikistan, Emomali Rahmon, was also present.
He said the bilateral trade was already underway, however, there was need for industrial cooperation between the two countries and the cement factory was one step in that direction.
“President Asif Ali Zardari is willing to extend his cooperation towards Tajikistan for the promotion of trade and investment between the two countries,” he added.
He said that the Tajik entrepreneurs could also utilize Pakistan’s capabilities through various industrial and allied sectors.
Mandviwalla said that Pakistan wants to strengthen relations and cooperation in diverse fields including trade, communication and energy with particular focus to tap potential markets of Central and Southern Asia.
Addressing the Forum, the Chairman and CEO of Trade Development Authority of Pakistan (TDAP), Tariq Puri, said that interaction between the private sector entrepreneurs will help promote bilateral trade and business relations.
He said the TDAP will soon visit Tajikistan with a big business delegation and look into options to open marketing office there, besides, participating in an exhibition.
On the occasion, the Tajik Minister for Economic & Trade Affairs, Farrukh Hamraliev, said that his country was a growing economy and has achieved macro-economic stability after gaining independence in 1991.
He said the external trade and currency operations have been liberalised. Small and medium business enterprises are fully privatized while restructuring and corporatisation of big state enterprises are underway.
The Minister hoped that investments will lead to growing outputs in real sectors of economy. “This will enable diversification of Tajikistan’s export potential, which at present heavily depends on aluminum and cotton industries,” he maintained.
He said the estimated hydro potential of Tajikistan is 527 billion KW per annum. Less than 6 percent of this capacity is being used at present.
The Deputy Chairman of State Committee on Investment, Eshonkulov A. also spoke and dwelt at length on the investment potential in Tajikistan.
He said there was great scope of foreign investment in hydro-resources, mineral wealth of gold and silver deposits, processing of agriculture, wool and leather, cotton farming, vegetable farming and cattle breeding.
About the trade volume between the two countries, the head of WTO Cell of TDAP, Mujeeb Ahmed, said that it was around 35 million dollars which was very low and needs to be enhanced.
However, he said that unregistered trade was also going on through Afghan border and presently Pakistan’s major exports to Tajikistan include paper products, tents, textile material, medicines, butter and milk cream.
The entrepreneurs of both the countries were later given an opportunity of interaction.
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