Business forum highlights roadmap for enhanced cooperation in key sectors, including e-commerce and regional connectivity.
Key Takeaways:
i) Pakistan and Kazakhstan are committed to strengthening economic ties and fostering a lasting relationship.
ii) A comprehensive roadmap is being developed to enhance cooperation in trade, investment, and regional connectivity.
iii) Both countries are exploring opportunities in e-commerce and utilizing Pakistan’s seaports for trade.
Karachi, Pakistan – The Pakistan-Kazakhstan Business Forum concluded with both nations affirming their commitment to expanding bilateral trade and investment relations. The forum highlighted a comprehensive roadmap designed to enhance cooperation across key sectors, including trade, investment, industrial collaboration, and regional connectivity.
In 2023, Pakistan’s exports to Kazakhstan reached $68.1 million, while Kazakhstan’s exports to Pakistan were $6.4 million.
During the forum, officials from both countries emphasized the importance of strengthening economic engagement and fostering a long-lasting relationship. A key outcome was the finalization of a memorandum of understanding (MoU) on cooperation in e-commerce, aimed at facilitating cross-border trade and empowering small and medium-sized enterprises (SMEs).
Kazakhstan expressed interest in utilizing Pakistan’s seaports, recognizing them as the shortest route to the Arabian Sea. Pakistan invited Kazakh investors to capitalize on its efficient institutional mechanism for investment.
In 2023, Pakistan’s exports to Kazakhstan reached $68.1 million, while Kazakhstan’s exports to Pakistan were $6.4 million. Key Pakistani exports include bananas and citrus, while Kazakhstan’s exports include dried legumes and oats. Both countries aim to increase their trade volume to $1 billion.
The forum also saw the signing of two MoUs in the dairy and glass sectors between companies from both countries, signaling growing industrial collaboration.
