Pakistan, Kazakhstan seek stronger trade and investment ties, focus on connectivity and private-sector cooperation
Islamabad: Pakistan and Kazakhstan have reaffirmed their commitment to expanding bilateral economic cooperation, boosting trade and exploring new investment opportunities, with both sides emphasising stronger business-to-business (B2B) engagement, improved connectivity and effective implementation of existing agreements.
The understanding was reached during a meeting between Federal Minister for Investment Qaiser Ahmad Sheikh and Deputy Prime Minister–Minister of National Economy of the Republic of Kazakhstan Zhumangarin Serik Makashevich.
During the meeting, Sheikh stressed the need to strengthen economic ties through greater private-sector participation, enhanced business-to-business cooperation and improved banking channels to facilitate trade and investment between the two countries.
Highlighting the considerable potential for economic collaboration, the minister identified several promising sectors, including e-commerce, warehousing, textiles and mining, where businesses from both countries could explore mutually beneficial investment opportunities.
He particularly pointed to Kazakhstan’s affordable energy resources as an attractive opportunity for Pakistani investors, especially in the textile industry, noting that closer economic cooperation could help Pakistani businesses explore new avenues for investment and industrial growth.
Referring to the memorandums of understanding (MoUs) signed during President Asif Ali Zardari’s visit to Kazakhstan in February, Sheikh underscored the importance of their early and effective implementation. He said translating the existing agreements into practical initiatives was essential to achieving concrete economic results and strengthening bilateral commercial relations.
Kazakhstan’s Deputy Prime Minister–Minister of National Economy, Zhumangarin Serik Makashevich, expressed his desire for the Prime Minister of Pakistan to undertake a visit to Kazakhstan, describing high-level exchanges as an important means of further strengthening relations between the two countries.
He reaffirmed Kazakhstan’s commitment to expanding bilateral cooperation and increasing trade with Pakistan, disclosing that a five-year roadmap had been developed to provide a structured framework for advancing economic relations and identifying new areas of collaboration.
The Kazakh deputy prime minister highlighted the significant opportunities offered by Pakistan’s market of approximately 250 million people, saying the country’s large consumer base presented considerable potential for Kazakh businesses and investors.
He also pointed to Pakistan’s strategic geographical position, observing that Kazakhstan could benefit from enhanced access to Pakistani markets, while Pakistan could utilise Kazakhstan as a gateway to the wider Eurasian region.
Emphasising the importance of physical connectivity in promoting economic activity, Makashevich called for establishing direct air links between Pakistan and Kazakhstan. He said improved air connectivity would facilitate business travel, strengthen commercial exchanges, encourage investment and promote people-to-people contacts.
He further informed the Pakistani minister that Kazakhstan’s Foreign Minister would visit Pakistan to participate in the preparatory meeting for the Shanghai Cooperation Organisation (SCO), providing another opportunity to strengthen bilateral engagement.
Both sides agreed that closer institutional coordination, improved transport and financial connectivity, timely implementation of existing agreements and increased private-sector participation were essential to unlocking the full potential of Pakistan-Kazakhstan relations.
The meeting underscored the shared resolve of Islamabad and Astana to move beyond existing diplomatic commitments and develop practical economic partnerships that could expand bilateral trade, attract investment and create new opportunities for businesses in both countries