Economic strategists and regional experts say the new Kazakhstan under President Kassym-Jomart Tokayev offers strong guarantees for foreign investments, along with substantial incentives and facilitation—opportunities Pakistani businesses should actively pursue.
They said there is ample opportunity for Pakistani businessmen and investors to make investments in extractive industries, manufacturing, textile, agriculture, food processing, pharmaceutical, leather and wool, agro-chemical, mining oil and gas, construction and material, textiles, pharmaceutical as potential sectors for investments and joint ventures.
Active role of respective chambers of commerce/formation of a Joint Pak-Kazak chamber of commerce, integrated role of trade attaché’, regular holding of one country expos, festival, finalization of Preferential Trade Agreement (PTA)/ Free Trade Agreement (FTA), digitalisation (Kazakhstan is the biggest proponent of AI and IT in Central Asia), building of reciprocal software and trade houses and petrochemical production would provide win-win propositions for both the sides.
They said obviously these recent Memorandums of Understanding (MoUs) provide an ideal platform for Pakistan’s businessmen and investors in terms of trans-regional connectivity, immense socio-economic integration, qualitative industrialization, and extended reach to Eurasian Middle Corridor and beyond.
Evidently these MoUs would foster cooperation and investments in joint ventures and investments in preferential areas such as trade, economy, energy, science and technology, education, tourism, aviation, banking and finance, Islamic banking and regional connectivity.
Formation of “joint investment company” and “investment bank” may be a workable idea which must be materialized in the days to come. Railway link (logistic) Kazakhstan-Turkmenistan to Iran which could be extended to Pakistan to promote bilateral trade and people to people contacts.
They said comparative studies of Pak-Kazak bilateral trade relations clearly demonstrate that both sides have successfully shifted, pursued and implemented a holistic and comprehensive policy to further strengthen economic and business ties.
Early execution and completion of these transit trade agreements, MOUs of trade, connectivity and productivity would be value addition not for both sides but also for the entire region.
A railway link, built between Kazakhstan, Turkmenistan and Iran, could be extended to Pakistan to promote bilateral trade and people-to-people contact.
Enhancing rail, sea, and road connectivity, simplifying customs procedures, and resuming regular direct flights between the two countries are essential for both sides.
Economic strategist and regional expert Dr Mehmoodul Hassan Khan said the role of Pakistan’s National Logistics Corporation (NLC), Trade Development Authority (TDAP), Special Investment Facilitation council (SIFC) will be important for early finalisation and implementation of these projects.
“The rapidly changing socio-economic, geopolitical and geo-strategic scenarios in the region and beyond especially ongoing Russia-Ukraine conflict, disruptions in Black & Red Seas, prolonged Middle East crisis and ongoing US trade and tariff storms have encouraged all the regional countries to promote “Alternative Middle Corridors”, joint ventures, industrial production houses, trans-shipment of oil & gas and agriculture products,” he said.
He said all the Central Asian Countries mainly Kazakhstan and Uzbekistan are rigorously pursuing policies of greater regional connectivity with outer-regional countries like Pakistan, Kazakhstan participation in the Central Asia Regional Economic Cooperation (CAREC), availing the utility of the Quadrilateral Traffic-in-Transit Agreement (QTTA), formation of Gwadar-Kasghar-Khorgos corridor, cluster trading system vividly reflecting emerging trends promoting trade and businesses.
He added, formation of CPEC digital corridor and last but not least, multimodal trade corridor from Jebel Ali (UAE) to Almaty, via Pakistan’s ports Karachi, Qasim, and Gwadar would be a giant step towards greater trans-regional trade, economy and connectivity.
Signing of key agreements, such as the roadmap for trade and economic cooperation, finalization of the transit trade agreement, a transit trade accord for movement of goods through three Pakistani ports Karachi, Qasim and Gwadar, the MoU on e-commerce will play a critical role in facilitating smoother trade flows and fostering broader economic collaboration between Pakistan and Kazakhstan.
Moreover, joint ventures relating to integrated transport systems, investment, industrial cooperation, chemical industries, green technologies, peaceful nuclear energy collaboration and textiles, pharmaceuticals, sports, engineering, small and medium-sized enterprises (SMEs) would also be mutually-beneficial for enhancing mutual trade to both sides.
Formation of regional trade corridors, particularly the Kazakhstan-Turkmenistan-Afghanistan-Pakistan and Kazakhstan-Uzbekistan-Afghanistan-Pakistan routes, further strengthening of transports Internationaux Routiers (TIR), Quadrilateral Traffic in Transit Agreement would be value addition.
Dr Khan said “Kazakhstan, pursuing its goals to diversify its export pathways and reduce dependence on traditional northern routes, has explored several connectivity projects that have either direct or indirect implications for trade routes to Pakistan.
Of these, the three most significant are the Trans-Afghan Multimodal Transport Corridor (TMTC), the Middle Corridor, and the Quadrilateral Traffic in Transit Agreement.
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