The trade agreement between Pakistan and Afghanistan is a significant milestone in the relationship between the two countries. The agreement aims to boost bilateral trade and increase economic cooperation between the neighbors.
Pakistan and Afghanistan have had a long-standing economic relationship, with Pakistan being one of Afghanistan`s largest trading partners. However, the relationship has been strained due to political and security issues. The new trade agreement aims to address these issues and improve economic ties between the two countries.
Under the agreement, Pakistan has agreed to offer duty-free access to over 90% of Afghan goods. This will allow Afghan businesses to export their products to the Pakistani market without the burden of high tariffs. In return, Afghanistan has agreed to offer tariff concessions on certain Pakistani goods, including textiles and agricultural products.
The agreement is expected to have a significant impact on the economies of both countries. It will provide Afghan businesses with greater access to the Pakistani market, which has a population of over 220 million. This will allow them to expand their customer base and increase their revenues.
Pakistan, on the other hand, will benefit from increased trade with Afghanistan, which has a population of over 38 million. The agreement will provide Pakistani businesses with access to new markets and opportunities for growth.
The trade agreement is also expected to create jobs in both countries. As trade between the two countries increases, businesses will need to hire more workers to meet the demand for goods and services.
In conclusion, the trade agreement between Pakistan and Afghanistan is a significant development in the economic relationship between the two neighbors. It has the potential to boost trade, increase economic cooperation, and create jobs in both countries. With the implementation of the agreement, Pakistan and Afghanistan can look forward to a more prosperous future.