Islamabad, 6 October 2023 (TDI): Gohar Ejaz, Pakistan’s Minister of Commerce and Shakkaliyev Arman, Kazakhstan’s Minister of Trade had a Zoom meeting to discuss ways to improve economic cooperation between Pakistan and Kazakhstan, on October 5.
The virtual meeting provided a forum for the two countries to investigate possibilities for a mutually beneficial alliance and to promote stronger economic cooperation.
Kazakhstan Minister, Shakkaliyev Arman emphasized Kazakhstan and Pakistan’s longstanding affinity and untapped commercial possibilities.
He emphasized the necessity of boosting commerce between the two countries and deepening collaboration in a number of fields.
In order to facilitate access to South Asian markets, Minister Arman showed a special interest in investigating trade prospects in agricultural goods as well as the possibility for transit commerce and logistics through the Pakistani ports of Gwadar and Karachi.
Pakistan’s Minister of Commerce expressed his country’s desire for expanding trade ties while praising Kazakhstan’s impressive rise as a regional player.
He praised Kazakhstan’s development, noting that its GDP has risen to $250 billion and its foreign trade has increased to $150 billion.
While Pakistan’s GDP is $350 billion and its worldwide commerce is $100 billion, Minister Ejaz said that bilateral trade with Kazakhstan is only $100 million.
We invite Kazakhstan to join us on this adventure to double exports to $100 billion within five years, Gohar Ejaz said.
Gohar Ejaz set a goal for trade with Kazakhstan of $1 billion and emphasized Pakistan’s ability to add significant value to Kazakhstan through the latter’s sizable markets for energy, industry, and small and medium-sized businesses (SMEs).
Minister Ejaz cordially invited Shakkaliyev Arman and business representatives from Kazakhstan to visit Pakistan and explore investment potential.
He emphasized his willingness to open up Pakistani ports and to work with others in industries like steel manufacturing.
Gohar Ejaz also urged Kazakhstan to spend money in Pakistan’s special economic zones on enhancing the value of its natural resources.
Shakkaliyev Arman expressed his willingness to visit Pakistan with a team of business executives as the conference came to a close, reiterating the two countries’ commitment to enhancing their commercial ties.
Both Ministers demonstrated a strong commitment to maximizing their bilateral trade and creating beneficial partnerships.