Pakistan’s export to Yemen has increased from nearly $ 100 million in 2009-2010 to $ 164 million in 2010-2011 with trade balance overwhelmingly in Pakistan’s favor.
This was stated by the ambassador-designate of Pakistan to Yemen, Irfan Yusuf Shami, while meeting with President Karachi Chamber of Commerce & Industry Mian Abrar Ahmad.
Shami said that Pakistan’s imports include petroleum, scrap, leather and hides from Yemen totaling $ 1 million. Pakistan’s exports to Yemen include rice, wheat, poultry, machinery, construction materials, footwear, tarpaulins and tents, pharmaceuticals and medical equipment, textile products and knitwear, chemical and electrical goods totaling over $ 164 million.
He pointed out that Pak-Yemen trade graph was going up and also pointed out that high-level dignitaries of two countries had paid five visits to both sides during the same period.
Shami said that the interaction of the business communities of two countries is imperative to back-up and strengthen the bilateral relations. He informed that United Bank Limited had three branches operating in Yemen with a fourth branch to be opened shortly; therefore, the two-way trade is being supported by a banking channel.
He also identified investment prospects in Yemen and sought the cooperation of the KCCI President in regards to trade queries and facilitation. The ambassador informed that he was also maintaining the ambassadorial portfolio of the Yemen’s neighboring country of Djibouti.
KCCI President Mian Abrar Ahmad highlighted the existing potential of economic and commercial cooperation of Pakistan with the GCC & Middle East countries and said that regional trade is the key solution to sustain peace and prosperity in the region.
He noted that the regional trade will uplift the economy of Pakistan to new horizons.