Islamabad (TDI): Prime Minister Shehbaz Sharif on Wednesday announced an ambitious plan to increase Pakistan’s bilateral trade with Kazakhstan to $1 billion within the next year, highlighting the untapped economic potential between the two countries.
The commitment was made during a joint press conference in Islamabad alongside Kazakh President Kassym-Jomart Tokayev, who is on a two-day official visit to Pakistan, the first such visit by a Kazakh president in over two decades.
A signing ceremony was held following the talks, during which the two sides concluded more than two dozen agreements and memorandums of understanding spanning key sectors such as petroleum, mining, transport, maritime affairs, energy, and trade cooperation.
Welcoming the visiting delegation, Prime Minister Shehbaz described the discussions as productive and forward-looking, stressing the need to swiftly convert signed MoUs into enforceable agreements. He assured full commitment from Pakistan to ensure timely implementation, noting that meaningful execution would significantly deepen economic, trade, and cultural ties.
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Despite strong political relations, the prime minister pointed out that bilateral trade stood at only $250 million last year, a figure he said did not reflect the true capacity of either economy. He urged business communities from both sides to pursue joint ventures, particularly in energy, mining, infrastructure, and logistics.
Prime Minister Shehbaz also outlined plans for enhanced regional connectivity, including support for a multi-country transport corridor linking Central Asia to Pakistan’s ports, offering Kazakhstan full access to Pakistan’s transit infrastructure and seaports.
Highlighting Kazakhstan’s strength in natural resources and Pakistan’s industrial and human capital, he expressed confidence that cooperation in energy and mining would be mutually beneficial. He reaffirmed Pakistan’s view of Kazakhstan as a strategic and valued partner in Central Asia.
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President Tokayev, in his remarks, described Pakistan as a reliable and important partner in South Asia and beyond. He announced the signing of a joint declaration establishing a strategic partnership, calling it a milestone that opens new avenues for cooperation across trade, transport, energy, IT, and cultural exchanges.
Praising Prime Minister Shehbaz’s leadership, Tokayev noted Pakistan’s growing regional and international standing and commended its role in promoting peace and stability, including its election as a non-permanent member of the UN Security Council.
The Kazakh president also acknowledged Pakistan’s economic potential, transit capabilities, and defence industry, stating that discussions focused on result-oriented collaboration backed by concrete implementation mechanisms.
Earlier, President Tokayev was accorded a guard of honour at the Prime Minister’s House. He is accompanied by a high-level delegation, including senior cabinet members, reflecting Kazakhstan’s strong interest in expanding ties with Pakistan.
