Pakistan Delegation Eyes Trade Expansion at 2024 Nepal Expo

In March of next year, a delegation of business leaders from Hattar Industrial Estate will be attending an exposition in Kathmandu, Nepal. Dr. Chan Mubarak Hazarvi, Chairman of the Human Development Social & Islamic Committee of the Haripur Chamber of Commerce and Industry (HCCI), mentioned that their attendance at the "Nepal Expo" is aimed at uncovering new possibilities for expanding bilateral trade relations between the two nations.

Dr. Hazarvi noted that both Pakistan and Nepal have a historical record of trade relationships, with occasional benefits derived from each other’s commercial capabilities. Nevertheless, trading relations have been restricted for many reasons, with it not reaching their peak.

Dr. Hazarvi gave details on their trade agreements and the current bilateral trade volumes. He indicated that the Pak-Nepal trade was started in October 1962, and another one was introduced in July 1982. With these agreements, the Joint Business Council (JBC) was formed by the Federation of Nepalese Chambers of Commerce and Industry and the Federation of Pakistan Chambers of Commerce and Industry in November 1996.

Nevertheless, Dr. Hazarvi was concerned that bilateral trade was just stuck around an amount of less than five million dollars. He further stated that since 1998, Pakistani exports to Nepal have risen by a mere 0.45% per year, growing from US$ 4.99 million in 1998 to US$ 5.54 million. On the other hand, Nepal’s exports to Pakistan in this period were just $1.81 million.