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Volume of Pakistan-Kazakh trade does not commensurate with actual potential

  • September 29, 2022

ISLAMABAD-Brotherly relationship with Kazakhstan should be translated into enhanced trade, connectivity and evolved into a sustainable and mutually beneficial partnership. 

This was stated by Federal Minister for Commerce and Investment, Syed Naveed Qamar in a virtual meeting with Serik Zhumangarin, Deputy Prime Minister, Minister of Trade and Integration of Kazakhstan, on Wednesday. The minister said Pakistan and Kazakhstan’s relationships are historical and based on mutual respect for each other. “I am also delighted to note that the bilateral trade between our countries is constantly increasing since last eight years. But the volume of bilateral trade between the two sides does not commensurate with the actual potential”, he said. 

He expressed the government of Pakistan’s desire to enhance trade and mutually beneficial partnership between the two countries. The minister offered to the businessmen from Kazakhstan to use Pakistani sea ports for carrying their goods to various destinations across the world in a convenient and economical manner. 

Syed Naveed Qamar said: “I strongly believe that increased connectivity, lowering trade barriers, facilitating investments and joint ventures, exchange of technologies and enhanced B2B G2G engagement between our countries will enhance bilateral trade and investment and this meeting is just the start”. The Kazakhstan Deputy Prime Minister agreed that both countries have great potential in bilateral trade. He also agreed upon the exchange of technical and business delegations in future to explore the opportunities and ways to boost bilateral trade between the countries especially in agricultural, gas and coal. 

Serik also condoled on the current situation of the Pakistan due to flood and expressed his deep grief on the loss and assured his support in this hour of trail.  He also invited Federal Minister for Commerce to visit Kazakhstan, on which federal minister expressed gratitude and assured to visit Kazakhstan in near future. 

Meanwhile, Federal Secretary for Commerce, Muhammad Sualeh Ahmad Faruqui endorsing the point of view of Kazakhstan’s Trade Minister, said that in order to tap the potential it is imperative that both sides should work together to increase government to government and interactions through different forums.

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