Prime Minister Shehbaz Sharif, on Wednesday, made the decision to raise bilateral trade with Kazakhstan to $1 billion at the Pakistan-Kazakhstan Joint Business Forum held in Islamabad.
During the business forum, PM Shehbaz Sharif announced that new targets for the trade volume between the two countries will be accomplished. He added further that Kazakhstan can move its exports through the Gwadar and Karachi ports.
Kazakhstan President Kassym-Jomart Tokayev laid emphasis on the importance of strategic partnership in bilateral relations. With over 30 trade agreements worth $200 million signed at the forum, he said that he hoped the amount would climb up to billions of dollars in the near future.
Kazakhstan-Pakistan trade
Both leaders announced a Pakistan-Kazakhstan Strategic Partnership to strengthen economic, political, defense and cultural ties. Chief of Defense Forces (CDF) Field Marshal Syed Asim Munir and Deputy Prime Minister Ishaq Dar were also both present at the meeting.
The official visit came 23 years after a Kazakh President last toured Pakistan. Kazakhstan and Pakistan both settled on trade, transport and regional cooperation. A total of 37 memos were signed following the decision.
During the meeting, a working committee was also formed to devise a five-year bilateral roadmap. PM Shehbaz Sharif and President Kassym-Jomart Tokayev signed agreements and memoranda regarding different sectors of cooperation between Kazakhstan and Pakistan at the signing ceremony.
In his speech, PM Shehbaz Sharif said that he welcomed President Tokayev and his entourage and that the visit was critical for deepening the bilateral relationship. He added further that the two countries are committed to implementing the agreements.
