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Pakistan is considering a multi-billion-dollar liquefied natural gas (LNG) pipeline deal with Russia to address its energy needs. However, the deal is contingent on Pakistan finding a way to avoid US sanctions. Russia has proposed the construction of an LNG pipeline from Russia through Iran to Pakistan, potentially extending to India. Pakistan is also exploring trade ties with Azerbaijan and aims to boost annual exports to over $1 billion. The country is seeking to finalize the Russian LNG project while maintaining favorable relations with the US and is also negotiating deals with Russia and China. [Extracted from the article]

The National Bank of Pakistan (NBP) President, Mr. Rehmat Ali Hasnie, attended the Pakistan China Business Conference in Shenzhen, China, as part of Prime Minister Shehbaz Sharif's official visit. The conference aimed to strengthen economic ties between the two countries and attract Chinese investors. Mr. Hasnie met with key officials to discuss potential opportunities for establishing an NBP branch in Shenzhen and explored collaboration opportunities with representatives from the Ministry of Finance and Silk Road International Investment Management Co. Ltd. He also explored avenues for collaboration with Huawei Technologies. Mr. Hasnie expressed optimism about the conference and NBP's commitment to providing banking facilitation for businesses resulting from this collaboration. [Extracted from the article]

Pakistan and China have signed 32 memorandums of understanding (MoUs) to enhance bilateral trade and investment. Prime Minister Shehbaz Sharif led a delegation of 100 businessmen to China to explore new economic collaboration opportunities. The visit aims to attract Chinese investments and boost Pakistan's exports, while also providing China with a strategic route to export directly to other countries. The MoUs cover various sectors, including energy, infrastructure development, farming, engineering construction, and logistics. [Extracted from the article]

A Saudi delegation, led by Deputy Investment Minister Ibrahim Almubarak, has arrived in Islamabad for a three-day visit to explore investment opportunities in Pakistan. The visit aims to strengthen trade ties and identify investment prospects in various sectors of the Pakistani economy. Pakistani companies will engage in business-to-business meetings with Saudi investors, and discussions will cover sectors such as agriculture, mining, energy, chemicals, and maritime, as well as IT, religious tourism, telecom, aviation, construction, water, and power generation. This visit follows recent meetings between the Pakistani Prime Minister and the Saudi Crown Prince, signaling positive bilateral economic relations. A two-day investment conference between Pakistan and Saudi Arabia will also take place to boost bilateral trade and investment. [Extracted from the article]

The US has expressed opposition to the Pakistan-Iran gas pipeline project, citing concerns about potential sanctions associated with doing business with Iran. The project, known as the Peace Pipeline, aims to transport natural gas from Iran to Pakistan. Despite facing delays and funding challenges, Iran and Pakistan signed a trade plan in 2023 with a bilateral trade target of $5 billion. Pakistan's Petroleum Minister has expressed intent to seek a US sanctions waiver for the pipeline, but the US State Department maintains its firm position, advising caution due to existing sanctions. [Extracted from the article]

Pakistan's Caretaker Federal Minister for Commerce and Industry, Gohar Ejaz, has expressed Pakistan's goal of increasing bilateral trade with Saudi Arabia to $20 billion. This was highlighted during the Pakistan-Saudi Business Forum in Riyadh, where Ejaz also discussed enacting legislation to promote investment between the two countries. The Chairman of the Saudi Business Forum, Hassan Al Hazawi, noted a 35% increase in bilateral trade between Pakistan and Saudi Arabia. Additionally, an agreement was signed between the Pakistan Overseas Employment Corporation (POEC) and NESMA and Partners to send skilled Pakistani labor to Saudi Arabia's construction sector, which is expected to create job opportunities and strengthen economic ties. [Extracted from the article]

The event was held to mark ICBC Bank's designation as the RMB clearing agent in Pakistan by the People's Bank of China (PBoC). State Bank of Pakistan (SBP) Governor Jameel Ahmad said on Friday using the renminbi (RMB) for settling cross-border trade and investment transactions with China can further strengthen the long-lasting economic and financial ties. "Use of renminbi to help trade with China". [Extracted from the article]

Pakistan and Iran expressed the resolve to increase bilateral trade to $5 billion under a five-year [2023-2028] trade cooperation plan and emphasized the need for activating more formats of cooperation in areas of economy trade, combating terrorism, and creation of jobs under the existing mechanisms between China, Pakistan, Iran, and Turkey for joint cooperation and mutual interest. Speaking at a joint news conference along with Foreign Minister Bilawal Bhutto-Zardari after the talks, Iranian Foreign Minister Abdollahian said that besides other important issues, the two sides held very important discussions on the Iran-Pakistan gas pipeline project. [Extracted from the article]

The Trade Development Authority of Pakistan (TDAP) and the Islamabad Chamber of Commerce and Industry (ICCI) hosted the Pakistan-Tajikistan Business Forum and B2B Meetings in Islamabad to strengthen economic ties and explore business collaboration between the two countries. Representatives from 24 Tajik companies and over 120 Pakistani companies participated in the event, focusing on sectors such as agro products, energy, textiles, construction materials, logistics, and tourism. Despite challenges, the event featured over 350 B2B meetings, facilitating discussions for potential joint ventures, trade agreements, and investment opportunities, with the Ambassador of Tajikistan to Pakistan supporting efforts to enhance diplomatic and trade relations. This collaborative forum highlighted the growing interest in bilateral trade and investment, paving the way for future economic engagements and long-term partnerships between Pakistan and Tajikistan. [Extracted from the article]

Pakistan and Belarus have signed eight Memorandums of Understanding (MoUs) and agreements to enhance collaboration and boost bilateral trade. The agreements cover various sectors such as pharmaceuticals, agriculture, logistics, and metal supply. Despite a decline in Pakistan's exports to Belarus, imports from Belarus have surged, indicating growing trade relations. Both countries emphasize the importance of trade diversification and are optimistic about the untapped opportunities in key sectors. The agreements signify a significant step towards strengthening economic ties and realizing the full trade potential between Pakistan and Belarus. [Extracted from the article]

Products that Pakistan imports from Australia are mainly pulses, wood products, fertilizers and petroleum products. Pakistan Australia Business Forum What is the current status of trade between Australia and Pakistan?. [Extracted from the article]

The Energy Update article reports on high-level discussions between Pakistani and Russian officials at the Kremlin, focusing on topics such as the TAPI gas pipeline, bilateral trade, and infrastructure projects. Russia's Deputy Prime Minister praised Pakistan's interest in enhancing trade through initiatives like the North-South International Transport Corridor. Both parties expressed optimism about future collaborations and emphasized the importance of boosting exports in various sectors. The meeting signals growing economic cooperation between the two nations. [Extracted from the article]

The article "Eyes on SCO and CPEC: High-Profile B2B Delegation Engages FPCCI" discusses a recent visit by The China Asia Economic Development Association (CAEDA) to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to explore investment and trade opportunities in various sectors. The delegation highlighted the potential of the China-Pakistan Economic Corridor (CPEC) and Shanghai Cooperation Organization (SCO) to boost the national economy. Bilateral trade between Pakistan and China has been increasing, with Pakistan exporting products like cotton yarn and rice to China, while importing items such as semiconductor devices and mechanical appliances. The CAEDA delegation expressed interest in establishing a Pakistan Zero-Tariff Trade Zone and exploring opportunities in different sectors of the economy. [Extracted from the article]

Pakistan has experienced significant benefits since becoming a full member of the Shanghai Cooperation Organisation (SCO) in 2017. The country has seen improvements in trade, security, and regional diplomacy, with increased trade with China and other Central Asian countries. Pakistan's involvement in the SCO has also led to enhanced security cooperation and strengthened its geopolitical standing in Central Asia, positioning it as a key player in regional and global affairs. [Extracted from the article]

Pakistan has requested a $1.4 billion loan from China to address financial challenges, following an extension of an existing $4.3 billion facility. The Finance Minister proposed increasing the Currency Swap Agreement limit to 40 billion yuan to stabilize reserves. This request, made during a meeting with China's Vice Minister of Finance, highlights Pakistan's efforts to secure financing amidst uncertainty over other loans, including a recent $600 million commercial loan at an 11% interest rate. The ministers also discussed plans for Pakistan to issue its first Panda bond in the Chinese market to diversify financing options and enhance bilateral trade. [Extracted from the article]

Germany has requested the intervention of Pakistan's Chief of Army Staff, General Asim Munir, to renegotiate the closure of a 450MW power plant involving German investor Siemens. The German Ambassador to Pakistan, Alfred Grannas, has approached General Munir to find a resolution that protects German investments. Siemens, holding a 26% stake in Rousch Pakistan Power Limited, has agreed to the closure but has set forth six conditions that must be met for the contract to be formally terminated. The German ambassador emphasized the importance of resolving these issues to maintain strong Pakistan-Germany business relations and encourage future foreign investment. [Extracted from the article]

In 2023, Ghana's bilateral trade with Switzerland reached $3 billion, making Switzerland its top export partner. The trade volumes doubled from $1.5 billion in 2019, showcasing the strengthening economic ties between the two countries. The diplomatic reception highlighted the collaborative efforts in development cooperation, investment in strategic value chains, and support for renewable energy solutions. Ghana's Minister for Roads and Highways emphasized the country's political stability, security, and favorable investment conditions, attracting over 55 Swiss investments and contributing to Ghana's economic development. Ghana values its economic relations with Switzerland and looks forward to further collaboration, especially with the operationalization of the African Continental Free Trade Area (AfCFTA). [Extracted from the article]

A delegation of Pakistani business representatives has arrived in Moscow for a series of business-to-business trade meetings aimed at boosting bilateral trade across various sectors. The delegation, led by Federal Minister for Petroleum Division Musadik Malik, will engage with Russian counterparts over three days. The meetings are organized by Pakistan's Ministry of Commerce in collaboration with the Board of Investment and the Trade Development Authority of Pakistan. Pakistani business groups from sectors including textiles, leather, sports goods, and agriculture will explore new trade opportunities with Russian entrepreneurs. The delegation is also considering collaboration with Chinese banks and exploring alternative shipping routes to overcome financial transaction challenges caused by SWIFT sanctions on some Russian companies. [Extracted from the article]

The article presents the discussion on Chinese Ambassador Ma Jia and Myanmar's Foreign Minister Than Swe discussed bilateral trade in agriculture and livestock, along with the implementation of Chinese projects in Myanmar, during their meeting on 23 August. Topics include the strengthening of the Pauk-Phaw relationship, protection for Chinese projects and nationals; and cooperation in regional and international forums such as ASEAN and the United Nations.

The energy sector in Pakistan has historically faced challenges such as inefficiencies, high costs, and unreliable supply. To address these issues, the government institution NEPRA has introduced the Competitive Trade Bilateral Contracts Market (CTBCM) regime. This regime aims to improve the efficiency, sustainability, and reliability of the energy sector by fostering competition. However, it remains to be seen whether this vision will become a reality or remain a myth. [Extracted from the article]

"ICBC Karachi branch has also obtained the direct participation qualification of the first cross-border CNY clearing mechanism of Cross-Border Inter-Bank Payments System (CIPS) in South Asia to facilitate and ensure quick and smooth CNY clearing capability to improve bilateral trade", he added. Chief Representative of National Bank of Pakistan (NBP) in China, Shaikh Muhammad Shariq said that his bank is ready to facilitate the Chinese companies to relocate their businesses and industrial units to Pakistan under the China-Pakistan Economic Corridor (CPEC) framework. [Extracted from the article]

Pakistan and Iran have agreed on a barter deal to exchange rice and import liquified petroleum gas (LPG), announced Adviser to Prime Minister on Trade and Commerce Abdul Razak Dawood. "We will export rice to Iran and import LPG from there ... It is purely a barter deal ... They [Iran] have agreed in principle and we have signed it [the memorandum of understanding]", Arab News quoted him as saying. [Extracted from the article]

He hailed the trial run of NLC trucks as a historic step that would strengthen road connectivity between the two countries and would also help in promotion of bilateral trade. Trial run revives ITI corridor, opens new avenues of trade Covering a distance of 5,300 kilometres and crossing two borders in nine days, the first two National Logistics Company (NLC) trucks carrying goods from Karachi reached Istanbul on October 7. [Extracted from the article]

Federal Minister for Economic Affairs Omar Ayub Khan said on Tuesday afternoon that Pakistan would be a regional hub for transit trade and investment opportunities in the near future thanks to CPEC. In a meeting here with The Kazakhstan Ambassador Yerzhan Kistafin at his office, Khan highlighted that there was huge potential for enhancing bilateral trade and investment between the two countries, especially in CPEC SEZs. [Extracted from the article]

He hailed this trial run of NLC trucks as a historic step that will strengthen road connectivity between Pakistan and Turkey and would also help in promotion of bilateral trade. A dignified ceremony was held today at Murat Bey Customs Post in Istanbul to mark the arrival of the first two National Logistics Company (NLC) trucks carrying goods from Pakistan to Turkey, via Iran, under the Transports Internationaux Routiers (TIR) convention. [Extracted from the article]

Pakistan and Oman should cooperate in diverse sectors to enhance the bilateral economic and trade relations, said Oman Chamber of Commerce and Industry Chairman Redha bin Juma Al Saleh. "Pakistan and Oman are strategic allies and friendly neighbours", said FPCCI Convener for International Forums Amjad Rafi. [Extracted from the article]

Pakistan's cement industry, mainly northern players, are also enthusiastically watching the Afghanistan political situation as cement mills here export a large quantity of cement to Kabul. Therefore, the opening of trade routes will benefit Afghanistan and aid Pakistan's CPEC expansion, a step that will help establish Pakistan as a regional trade corridor. [Extracted from the article]

Iran and Pakistan have finalized a free trade agreement, with plans to release a list of commodity items covered by the agreement in two months. Both countries aim to achieve a $10 billion trade target through barter trade and free trade. Meetings between officials from Iran and Pakistan have focused on promoting economic exchanges and exploring ways to enhance bilateral trade, emphasizing the historical and cultural commonalities between the two nations. Joint efforts are being made to increase mutual trade, remove barriers, and strengthen trade and economic relations between the two neighboring countries. [Extracted from the article]

Sunil Bharti Mittal, the founder and chairman of Airtel Africa Plc, has been knighted by King Charles III for his contributions to promoting India-United Kingdom business relations. He was awarded Honorary Knighthood, the Knight Commander of the Most Excellent Order of the British Empire (KBE), for his role in listing Airtel Africa on the London Stock Exchange and leading the revival of OneWeb. Mittal has also received honorary doctorates from Newcastle University and the University of Leeds, and he is involved in various advisory roles at prestigious institutions. He expressed gratitude for the recognition and emphasized his commitment to strengthening economic and trade relationships between the UK and India. The KBE is one of the highest honors given by the British Sovereign to foreign nationals. [Extracted from the article]

The bilateral trade between Nigeria and the Netherlands reached $8 billion in 2023, according to the Dutch Minister for Foreign Trade Development Cooperation, Mr Geoffrey Van Leeuwen. The two countries recently signed a Memorandum of Understanding (MoU) to further strengthen their ties in areas such as politics, economics, and migration/consular cooperation. The Nigerian Minister of Foreign Affairs expressed gratitude for the Dutch support and highlighted the importance of discussions on trade, investment, migration, agriculture, water resources, and consular issues. The Dutch Minister emphasized the deepening relationship between the two countries, particularly in agricultural projects, and expressed a commitment to further strengthening their partnership in various fields. Additionally, the ministers discussed the importance of addressing human trafficking and improving migration policies through collaboration. [Extracted from the article]

The German envoy, along with other officials, visited the All Pakistan Textile Mills Association (APTMA) Lahore office to discuss bilateral trade expansion. The envoy emphasized the importance of synergies and called on the Pakistani government to ensure compliance with GSP Plus regulations. He also highlighted the need for Pakistani exporters to understand supply chain regulations in Germany in order to increase exports. [Extracted from the article]

The Ambassador of Kazakhstan to Pakistan, Mr. Yerzhan Kistafin, discussed the potential for Pakistan's textile industry in Kazakhstan's $2 billion textile imports. He urged Pakistani textile groups to focus on high-value products that align with Kazakhstan's specific demands. The governments of Kazakhstan and Pakistan are working together to strengthen bilateral trade, including inviting a delegation of Kazakh businessmen to engage in B2B meetings in Lahore. Ongoing negotiations are also taking place regarding transit trade between the two countries, with challenges such as logistics, language barriers, and security concerns in the land route through Afghanistan. The Chairman of APTMA emphasized the need to enhance banking channels, sign a Preferential Trade Agreement, and utilize international trade cooperation platforms to boost bilateral trade. [Extracted from the article]

Chinese and Pakistani companies have signed a Memorandum of Understanding (MoU) to enhance their bilateral trade and business cooperation. This partnership aims to create an environment that encourages trade expansion, develops efficient logistics, and fosters global commerce. Members of both organizations will benefit from exchanging market information, insights into industry trends, and access to trade finance and risk management services. The partnership also includes collaboration on advocating for trade-friendly policies, technology integration, trade promotion events, sustainability practices, and skills development programs. The Global Logistics Alliance (GLA) and Global Business Alliance (GBA) emphasize the significance of this partnership in promoting international trade and business growth. [Extracted from the article]

The July - August 2024 edition of the Pakistan Food Journal focuses on current exhibitions related to the food industry worldwide. Pakistan aims to increase exports to China and neighboring countries, including Afghanistan, Iran, and India, despite challenges such as political tensions and US sanctions. Exports to Afghanistan decreased, while exports to India and Iran were minimal. Pakistan is shifting its strategy towards enhancing trade within Asia, particularly with Gulf Cooperation Council countries, while maintaining important trade ties with the West. Efforts are being made to strengthen bilateral trade and investment, particularly with Saudi Arabia. Pakistan's current account deficit has decreased, aided by rising exports and declining imports, but expanding exports to neighboring countries, especially in food products, is necessary. [Extracted from the article]

Shabbir Mansha Churra has been appointed as the chairman of a body within the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). He is highly regarded for his experience and leadership skills, particularly in resolving issues related to the Federal Board of Revenue, Customs Department, Port, and Shipping. Churra has also played a significant role in addressing problems faced by exporters and importers in dealing with the Customs and Valuation Department. In addition, he is the founder chairman of the Pakistan Artificial Leather Importers and Merchants Association. As the Chairman of the Pakistan-China Business Council, Churra is expected to contribute to strengthening bilateral trade and fostering friendly relations between Pakistan and China. The FPCCI has pledged its full support and cooperation to the Council under Churra's leadership. [Extracted from the article]

According to this agreement, citrus food was sent from Pakistan to Russia for the first time in 2021. This first-of-its-kind shipment is a part of the Pakistan-Russia agreement signed in March this year, after the arrival of which the two countries have officially become commercially integrated with each other. After the creation of Central Asian states, Pakistan›s bilateral relations with them have progressed rapidly in other fields, including trade. [Extracted from the article]

As 2023 begins, amidst the current political and economic turmoil, Pakistan's Prime Minister Shehbaz Sharif arrived in the United Arab Emirates for a two-day visit with the aim of boosting bilateral trade and economic relationships. The relationship between UAE and Pakistan is a historic one, with Pakistan being the first nation to appoint an ambassador to the UAE before its official formation in 1971. The Eurozone and Schengen Area expanded with the addition of Croatia, which became the 20th country to enter the Eurozone and the 27th to join the Schengen Area after adopting the euro. [Extracted from the article]

The governments of Nigeria and the United Kingdom have announced that the trade value between the two countries in 2022 reached £5.5 billion. This was confirmed at the 8th ministerial meeting of the United Kingdom-Nigeria Economic Development Forum (EDF). The statement emphasized the commitment of both countries to deepen their trade relationship and pursue an enhanced trade and investment partnership. The UK recently inaugurated the Developing Countries Trading Scheme (DCTS), which will come into effect in early 2023 and will reduce tariffs on hundreds of everyday products from developing countries, including Nigeria. Both sides expressed their desire to resolve market access issues and enhance economic cooperation. [Extracted from the article]

Talking about Indonesia, he said that Bali; the city of Indonesia is an important interaction for tourism between Pakistan and Indonesia. The Ambassador of Indonesia to Pakistan, Adam Mulawarman Tugio delivered a lecture on Pakistan-Indone sia Relations and Networking. The Embassy of Indonesia to Pakistan hosted the participants of the International Young Diplomats School (IYDS). [Extracted from the article]

The Deputy Head of the Mission of the Philippines to Pakistan, Dan Erwin C. Bagaporo enlightened the participants about Pakistan-Philippines relations as well as the history and geostrategic significance of her country. Chargé D'affaires of Philip pines to Pakistan, Maria Agnes M. Cervantes welcomed the IYDS partici pants. The Embassy of the Philippines to Pakistan hosted the participants of the International Young Diplomats School (IYDS) on the second day of the program. [Extracted from the article]

The Diplomatic Insight Group conferred an award to Andreas Ferrarese, Ambassador of the Republic of Italy to Pakistan during a ceremony for the 5th Global Ambassadors Awards. Ambassador Ferrarese has worked incredibly to enhance Italy-Pakistan cooperation in bilateral trade, economic, cultural, environmental, and other fields. [Extracted from the article]