This was announced by Deputy Prime Minister - Minister of Trade and Integration Serik Zhumangarin at the meeting of the 11th Intergovernmental Commission on Trade, Economic, Scientific, Technical and Cultural Cooperation between the Republic of Kazakhstan and the Islamic Republic of Pakistan, held in Islamabad on December 22, Delovoy Kazakhstan reports.
«Thanks to the established friendly and economic ties, today the Kazakh-Pakistani cooperation has a great potential for development. Kazakhstan considers Pakistan as an important and promising trading partner in South Asia. Our entrepreneurs are interested in exporting Kazakh products to the Pakistani market, in particular, cereals and legumes, vegetable oil, pasta, flour and confectionery products. Kazakhstan, for its part, is interested in importing fruit and vegetable products. In the future, our country is ready to supply about 80 types of processed goods of various industries worth over $411 million to the Pakistani market» Serik Zhumangarin stressed in his opening speech
The Deputy Prime Minister of Kazakhstan outlined promising areas of cooperation between the two countries. These are subsurface use, agro-industrial complex, light industry. The Kazakh side also expressed interest in diversifying transport and export routes of supplies to the markets of South Asia in order to provide Kazakh exporters with the shortest access to the southern seaports.
Following the results of the work of the intergovernmental commission, the parties signed 9 documents. This:
- Memorandum of Understanding between the Aviation authorities of the Republic of Kazakhstan and the Islamic Republic of Pakistan;
- Memorandum of Understanding between Bank of Punjab and «Bank CenterCredit» JSC;
- Memorandum of Understanding between «KAZAKH INVEST» NC JSC,« QazTrade» Trade Policy Development Center» JSC, Pakistan Trade Development Authority (TDAP) and Pakistan Investment Council;
- six memoranda on potato supplies to Kazakhstan in the period from March to June 2023 with a total volume of 120 thousand tons.
The Kazakh side also met with the Pakistani logistics company NLC (National Logistic Cell), where they discussed issues of road transit through Afghanistan. The company assured that it is ready to insure transportation and ensure the delivery of goods from Pakistan to Kazakhstan and back along the shortest route.
In parallel with the meeting of the intergovernmental commission, B2B meetings of Kazakh and Pakistani businesses, a joint business Council were held. Following the meetings, the Kazakh transport and logistics company «Dala Trans» LLP and the Pakistani «Haroon Brothers and Co» signed a memorandum on mutual cooperation in attracting cargo traffic for goods from Pakistan to Kazakhstan, as well as for transit through the territory of the states following the territory of Pakistan by railway transport and other most profitable multimodal routes.
Commercial Director of «Dala Trans» LLP Nursultan Nazhmetdinov also shared the results of the trip. He noted Pakistan's interest in the supply of Kazakhstani goods.
«We have signed a memorandum of cooperation on transit and transportation of goods to our countries, now we are discussing with other potential partners the transportation of 2,500 tons of flour from Kostanay to Hairaton, and potatoes from Pakistan about 50,000 tons per year» Nursultan Nazhmetdinov
Aizhan Naimbekova, General Director of «Barys-2007» LLP, owner of the Gramad retail chain, manufacturer of pasta and confectionery products, received interesting offers on rice, confectionery, as well as packaging during a business trip to Pakistan.
«I think it will be possible to sign contracts here. To do this, upon arrival in Kazakhstan, we will calculate the cost part for all proposals and choose the most optimal proposals. You can supply your pasta to Pakistan. I think we will be able to reach mutually beneficial agreements» Aizhan Naimbekova
For reference: In 2021, the volume of bilateral trade between Kazakhstan and Pakistan increased 2.1 times and amounted to $95.1 million (in 2020 – $45.6). According to the results of 10 months of this year, the trade turnover decreased by 8.2% and amounted to $61.4 million (10 months of 2021 – $66.8 million).
