Pak-Kazakh economic ties multifold increase in bilateral trade

Lahore: Mian Nasser Hyatt Maggo, President FPCCI, has said that it is phenomenal to witness more than a three-fold increase in bilateral trade volume between Pakistan & Kazakhstan to $20mn in the last month over its preceding month, where it stood at $6mn only. This demonstrates the potential of bilateral trade between the two brotherly countries, he added.

H.E. Yerzhan Kistafin, Ambassador of Kazakhstan to Pakistan, apprised the audience of the upcoming Joint Working Group Meetings, i.e. for Transportation on November 12 & for Trade & Investment on November 15. He also invited FPCCI’ members and exporters from Pakistan to participate in JWGs to collectively create an enabling environment for commercial & economic cooperation between the two countries.

Representing Pakistan’s Ambassador in Kazakhstan, H.E. Sajjad Ahmed Seehar, Mr. Muhammad Farooque, Trade & Investment Counsellor in Embassy of Pakistan in Kazakhstan, said that now Pakistan is a signatory of internationally & regionally significant convention on logistics & transportation called Transports Internationaux Routiers (TIR); and, can benefit from it through cutting cargo costs substantively.

Mr. Ayan Yerenov, Chairman of Chamber of International Commerce, Kazakhstan, said that there will be a high-profile meeting of Joint Business Council of Kazakhstan & Pakistan in the second-half of January 2022 & a Trade Exhibition in the second-half of March 2022.

Mr. Jamal Mir, a Senior Member of FPCCI, said that, based on his vast experience in trading with Central Asian countries, he can say that the absence of smooth visa processing is a major impediment for increasing bilateral trade volume between the two countries.

Mr. Shamas-Ur-Rehman, a Focal Person in Karachi for Kazakhstan in an honorary capacity, said that Pakistani business, industry and trade community is willing to participate in all the events with Kazakhstan to explore new vistas and sectors for enhancing bilateral trade relations.

Mian Nasser Hyatt Maggo reiterated his resolve, as President FPCCI, to spearhead Pakistan towards an expanded border and land-based trade volumes & routes; which happens to stand at more than 70% in rest of the world; but, Pakistan is still lagging behind in that critical facet of enhancing exports swiftly in a sustainable manner.