ISLAMABAD: In a significant step toward bolstering economic ties and bilateral trade, Dr. Gohar Ejaz, Pakistan’s Minister of Commerce and Industry, engaged in a productive virtual meeting with Shakkaliyev Arman, the Minister of Trade and Integration of the Republic of Kazakhstan.
The Zoom meeting provided an essential platform for both nations to explore opportunities for a mutually advantageous partnership and to enhance economic collaboration.
Minister Shakkaliyev Arman initiated the discussions by highlighting the strong friendship existing between Kazakhstan and Pakistan, underscoring the vast untapped potential for trade between the two nations. He emphasized the need for expanding cooperation across various sectors and elevating the trade volume between the two countries. Minister Arman expressed particular interest in exploring trade prospects concerning agricultural products and the potential for transit trade and logistics through Pakistani ports, specifically Gwadar and Karachi, which would enable easier access to South Asian markets.
Islamabad, 5/10/23 – An online meeting was held between the Minister of Trade and Integration of Kazakhstan, H.E. Mr. Arman Shakkaliyev, and the Federal Minister of Trade, Industry and Production of Pakistan, H.E. Mr. Gohar Ejaz. pic.twitter.com/vDEsxDpBvM
— Embassy of Kazakhstan to Pakistan (@KazEmbassyPK) October 5, 2023
Pakistan Commends Kazakhstan Economic Progress
Dr. Gohar Ejaz, Pakistan’s Minister of Commerce and Industry, reciprocated the enthusiasm for strengthening economic bonds, recognizing Kazakhstan’s significant regional influence. He commended Kazakhstan’s impressive economic progress, with a GDP of $250 billion and international trade amounting to $150 billion.
Minister Ejaz remarked, “While Pakistan’s international trade currently stands at $100 billion, supported by a GDP of $350 billion, our bilateral trade with Kazakhstan remains at a modest $100 million. Our vision is to increase our exports by $100 billion within the next five years, and we warmly welcome Kazakhstan to join us on this journey.” Dr. Ejaz announced a target of achieving $1 billion in trade with Kazakhstan and emphasized Pakistan’s potential to bring substantial value to Kazakhstan through its expansive markets in energy, industry, and small and medium-sized enterprises (SMEs).
Minister Ejaz extended a gracious invitation to Minister Shakkaliyev Arman and a delegation of business leaders from Kazakhstan to visit Pakistan, encouraging them to explore investment opportunities. He expressed Pakistan’s readiness to facilitate access to Pakistani ports and collaborate in sectors such as steel production. Dr. Ejaz also encouraged Kazakhstan to invest in value-added processes for its natural resources within Pakistan’s special economic zones.
The meeting concluded with Minister Shakkaliyev Arman expressing his eagerness to visit Pakistan alongside a delegation of business representatives, reaffirming his commitment to fortify trade relations between the two countries. Both ministers expressed dedication to unlocking the full potential of their bilateral trade and nurturing mutually beneficial collaborations.
