A Senate session chaired by Chairman Yousaf Raza Gilani reviewed Pakistan’s bilateral trade statistics with SAARC countries for 2023–24. Commerce Minister Jam Kamal Khan presented a detailed written reply outlining the trade data and ongoing initiatives to strengthen regional trade ties.
Trade with India
Despite strained relations, Pakistan's trade with India continued moderately, and the country imported goods worth $278 million from India during 2023-24, while exports to India remained negligible at $0.02 million.
The minister highlighted that India revoked Pakistan's most-favoured nation status in 2019, imposed a 200% import duty, and suspended trade after abrogating Article 370. Currently, trade with India is limited to pharmaceutical products since 2019.
Trade with Afghanistan
Pakistan’s exports to Afghanistan amounted to $2.18 billion, while imports were valued at $917.2 million. Afghanistan has been permitted to export 18 items in Pakistani currency, which is expected to facilitate smoother trade operations.
Trade with Bangladesh
Pakistan exported goods worth $718 million to Bangladesh and imported $42 million in return. Efforts to strengthen trade ties include establishing a joint working group, initiating direct shipping lines and flights, and reviving the Joint Economic Commission. Discussions are also ongoing to reduce business costs and improve efficiency.
Trade with Sri Lanka
Exports to Sri Lanka reached $386 million, with imports valued at $55 million. Sri Lanka recently waived post-shipment testing for Pakistani basmati rice, leading to a record export of 4,323 metric tons in 2023.
Other SAARC Countries
The commerce minister noted minimal trade with Maldives and Nepal, while there was no trade with Bhutan during the last fiscal year. He said the government is actively pursuing measures to boost trade within the region. These include promoting direct trade channels, reducing procedural hurdles, and exploring opportunities for increased collaboration.
