Last year, trade turnover between Kazakhstan and Pakistan nearly doubled, reaching $105.6 million. The growth in mutual trade confirms the existence of strong preconditions for further expansion of trade and economic cooperation between the two countries.

In the medium term, the parties intend to increase bilateral trade turnover to $1 billion. This issue was discussed during a bilateral meeting between Arman Shakkaliyev, Minister of Trade and Integration of the Republic of Kazakhstan, and Jam Kamal Khan, Minister of Commerce of the Islamic Republic of Pakistan, held in Islamabad.

During the talks, the parties noted the need to move from isolated initiatives to a well-established mechanism for implementing agreements aimed at increasing mutual trade volumes. Arman Shakkaliyev proposed identifying specific economic sectors for increasing trade turnover, as well as measures and practical actions to achieve this.

The implementation of this mechanism involves focusing on priority sectors with the greatest trade and economic potential, including agro-industrial complex and food products, chemical and petrochemical industries, metallurgy, mechanical engineering, and pharmaceuticals.

"To achieve the goal of increasing trade turnover to $1 billion, QazTrade and TDAP are designated as key operators for implementing these initiatives. This will ensure systematic business support, facilitate direct B2B contacts, and implement joint projects," noted Arman Shakkaliyev.

In turn, the Minister of Commerce of the Islamic Republic of Pakistan supported the Kazakh initiative. "Pakistan attaches particular importance to developing trade relations with Kazakhstan. Kazakhstan is not only the largest economy in Central Asia, but also Pakistan's largest export market in the region," noted Jam Kamal Khan.

Following the meeting, a protocol was signed, setting QazTrade and TDAP the tasks for implementing the agreements reached.

Source : https://www.gov.kz/memleket/entities/mti/press/news/details/1154413?lang=kk