Pakistan urges Kazakhstan to benefit from CPEC
Gwadar Pro
Islamabad: Pakistan yesterday urged Kazakhstan to benefit from the China-Pakistan Economic Corridor (CPEC).
Addressing the Pakistan-Kazakhstan Inter-Governmental Joint Commission (IJC), Federal Minister for Economic Affairs, Sardar Ayaz Sadiq stressed that Pakistan attaches importance to a peaceful environment in the neighborhood and invited Kazakhstan to become part of CPEC and benefit from it.
He maintained that there was also a need to have connectivity through rail, road, and air besides cooperating in tapping the potential of natural resources and precious metals.
Ayaz Sadiq highlighted the importance of developing a plan of action for improving trade between Pakistan and Kazakhstan, which is a far blow to its potential.
He mentioned that the trade volume between the two countries was recorded at just US $163 million in 2022, including $163 million exports from Pakistan and US $56 million imports from Kazakhstan.
He said, there was a lot of potential available that needs to be explored and highlighted that both countries should develop a plan of action to raise the trade volume through enhanced trade activities and the removal of trade barriers.
Sadiq emphasised that holding frequent joint business council meetings and facilitating businesses to introduce products into each-others markets could also play a vital role in promoting the trade.
The minister expressed the hope that early finalization and signing of a transit trade agreement between the two sides would further enhance bilateral trade.
He underlined that Pakistan and Kazakhstan enjoy good cordial relations that would be further strengthened through this forum, which was established back in 1993.
He acknowledged that the IJC resulted in enhancing bilateral relations between the two countries in various fields including trade, investment, cultural exchange and tourism.
He expressed the hope that IJC would provide a solid base to consolidate relations to move forward for capitalization of economic opportunities available including investment, and trade to benefit people.
He said, business and investment in Pakistan have improved and various agreements with Kazakhstan would further help enhance it.
Sadiq underscored that the promotion of tourism and culture was also a priority of the Pakistan government as Pakistan was a beautiful place with huge diversity, having 5 out of 14 highest peaks of over 8000 meters. He invited Kazakistan in the tourism sector.
He also underlined the need for cooperation in agriculture research as the economy of both countries has a dependence on agriculture.
He said cooperation could be enhanced for value addition, processing and joint ventures.
He suggested that the cooperation could also be enhanced in the higher education sector by the exchange of faculty and students besides the signing of agreements between various universities.
