Leaders Commit to Quadrupling Bilateral Trade Volume
In a significant move to deepen economic ties, Pakistan and Kazakhstan signed over 30 Memoranda of Understanding (MoUs) on Wednesday, with Prime Minister Shehbaz Sharif setting an ambitious target to increase bilateral trade volume to $1 billion within a year. The agreements span key sectors including petroleum, mining, and maritime affairs.
Addressing a joint press conference in Islamabad alongside Kazakh President Kassym-Jomart Tokayev, PM Shehbaz stated that the current trade volume of approximately $250 million was insufficient. “Unfortunately, our trade volume is a meagre $250 million, which does not reflect the strength of our friendship and the potential of both countries,” he said, urging a mutual commitment to rapidly scale economic engagement.
A Ceremonial Welcome and High-Level Talks
President Tokayev arrived in Islamabad for a two-day state visit, marking his first official trip to Pakistan. He was received with full state honours at the Prime Minister’s House, where PM Shehbaz personally greeted him. A ceremonial guard of honour was presented by a contingent of the Pakistan armed forces, and the national anthems of both countries were played.
Following the formal reception, the two leaders held one-on-one talks before leading their respective delegations in broader discussions. The talks focused on reviewing the full spectrum of bilateral relations and identifying new avenues for cooperation. As a symbolic gesture, President Tokayev also planted a commemorative sapling on the grounds of the Prime Minister’s House.
Broadening the Partnership
The visit underscored a mutual desire to strengthen the strategic partnership. In a separate meeting, Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar welcomed President Tokayev and reaffirmed the commitment to expand ties.
Dar emphasized the importance of high-level exchanges and highlighted shared goals for regional peace, stability, and development. The capital city was adorned with the flags of both nations and portraits of the Kazakh president in a display of hospitality.
The suite of over 30 MoUs signals a concrete step towards realizing the untapped economic potential between the two nations, with a clear roadmap to significantly enhance trade and investment flows in the coming year.
