KARACHI: Pakistan and Belarus are seeking to strengthen their bilateral trade relations through the promotion of transactions in local currencies and the establishment of banking channels. The initiative comes in the wake of a visit by Belarusian President Alexander Lukashenko, who arrived in Pakistan with a high-level delegation to discuss potential trade agreements in sectors including halal products, agriculture, IT, and medicine.

According to Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the visit and subsequent discussions were warmly welcomed by the Pakistani business community, including notable figures such as Sheikh Umar Rehan, Chairman of the Pakistan Vanaspati Manufacturers Association (PVMA). Rehan emphasized the need to open banking channels to facilitate trade in local currencies, aiming to alleviate pressure on economic stability and foreign exchange reserves.

The trade volume between the two countries remains low, and Rehan highlighted the necessity of exchanging bilateral trade delegations to improve this situation. FPCCI President Atif Ikram Shaikh expressed appreciation for Rehan's contributions to Pakistan's ghee and cooking oil industry and pledged full support for expanding trade with Belarus.

Business leaders, including UBG Patron-in-Chief SM Tanveer, underscored the significance of the Belarusian delegation's visit, suggesting that it will enhance trade opportunities. Tanveer called for the government to facilitate investors and industrialists to capitalize on these opportunities, while also advocating for incentives for Belarusian investors to increase foreign direct investment in Pakistan.

The meeting was attended by several esteemed members of the business community, who extended a warm welcome to the Belarusian delegation and praised efforts to address the challenges faced by the Pakistani business sector.