Kazakhstan is prepared to increase exports to Pakistan by $21.5 million, as revealed during a meeting between Kazakhstan's Minister of Trade and Integration, Arman Shakkaliev, and Pakistan's Secretary for the Ministry of Economic Affairs, Dr. Kazim Niaz, the press service of the Ministry of Trade and Integration reports.
The discussions covered various topics related to Kazakhstan-Pakistan cooperation, including the further enhancement of bilateral trade, attraction of investments, and the utilization of transit and transportation potential.
Arman Shakkaliev emphasized Pakistan's significance as an important trading partner of Kazakhstan. He stated, "Kazakhstan has great opportunities to export processed products with high added value. These include products from petrochemical, metallurgical, food, chemical, machine-building, and pharmaceutical industries, as well as transportation means. In total, these [export items] include 40 processed goods worth $21.5 million."
The Minister of Trade and Integration highlighted the strategic importance of ports such as Gwadar, Karachi, and Qasim to Kazakhstan. These ports play a crucial role in promoting exports to the markets of Pakistan and South Asia, enhancing the attractiveness of our countries' transit potential for accessing the markets of the Persian Gulf and East Africa.
Currently, mutual deliveries are possible via land routes through the territories of Uzbekistan, Turkmenistan, and Afghanistan. Additionally, seaports, including those in the North-South corridor, the territory of Iran, or through China, offer alternative transportation options. An alternative transportation route involves the Karakoram Highway through the territories of Kyrgyzstan and China, ultimately leading to Pakistan.
Kazim Niaz mentioned that Pakistan is ready to export seafood, construction materials, sports equipment, textiles, and agricultural products to Kazakhstan. He invited Kazakhstani businesses to evaluate investment opportunities in Pakistan, emphasizing his country's interest in foreign investment.
The parties also discussed the progress in coordinating the draft Roadmap on trade and economic cooperation between Kazakhstan and Pakistan, agreeing to sign it next year.
It's worth noting that the meeting occurred on the eve of the 12th meeting of the Kazakhstan-Pakistan Joint Intergovernmental Commission on trade, economic, scientific-technical, and cultural cooperation, scheduled for December 21 in Astana.
Additionally, a round table involving business circles from both countries is scheduled for December 21 this year. The event is expected to be attended by over 40 companies from various sectors of the Kazakh and Pakistani economies.
The trade turnover between Kazakhstan and Pakistan for January-October 2023 amounted to $38.7 million. Kazakhstan exports mainly dried leguminous vegetables, oats, onions, garlic, flax seeds, buckwheat, millet, and other cereals, while main imports from Pakistan include citrus fruits, potatoes, pharmaceuticals, clothing, and others.
