Kazakh envoy proposes joint business council

Laments that existing level of cooperation is below its actual potential

ISLAMABAD:

Kazakhstan is eager to strengthen bilateral trade with Pakistan given that increase in trade cooperation between the two countries will be helpful for the entire Central Asian region, said Ambassador of Kazakhstan Yerzhan Kistafin.

Addressing the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Thursday, he called for enhancing business-to-business contacts between private sectors of both countries to explore new avenues of two-way trade promotion.

He also lamented that the existing level of economic cooperation between Kazakhstan and Pakistan was way below its true potential.

The Kazakh envoy highlighted that promoting integration and connectivity between Pakistan and Central Asia would help tap the economic opportunities present in the region.

He emphasised upon establishment of a Pak-Kazakh business council to further improve bilateral business ties.

“The president of Kazakhstan has accepted the invitation of Prime Minister Imran Khan and he will be visiting Pakistan in the next few months and the tour will contribute towards further strengthening of trade and economic relations between the two sides,” he said.

Speaking on the occasion, ICCI President Muhammad Shakeel Munir said that Pakistan was keen to further expand bilateral trade with Kazakhstan.

“Both countries can perform trade activities in diverse areas,” he said. “Pakistan is destined to become a regional hub for transit trade and investment with the completion of the China-Pakistan Economic Corridor.” According to him, it was the right time for Kazakh investors to explore joint ventures and investment opportunities in Pakistan.

He also highlighted the importance of setting up Pak-Kazakh Joint Chamber of Commerce and Industry and said it would deepen linkages.

ICCI Senior Vice President Jamshaid Akhtar Sheikh said that the business community of Pakistan was eager to tap all potential areas of business cooperation with Kazakhstan.

Sheikh also stated that enhancing trade relations with Pakistan would be highly beneficial for Kazakhstan, keeping in view Pakistan’s pivotal position which provided land-locked Central Asian states the shortest access to the Arabian Sea.

Published in The Express Tribune, November 12^th, 2021.

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