Kazakhstan ready to strengthen long-term economic partnership with Pakistan: Kazak Minister

Islamabad: Minister for National Economy, Republic of Kazakhstan A. Kuantyrov has said that Kazakhstan was willing to strengthen lasting and long-term economic and trade relations with Pakistan.

He said that Pakistan and Kazakhstan are engaged in mutual discussions for long-term economic partnership, which would pave the way for economic and trade cooperation between the two countries in the future.

The Kazakh Minister said this while briefing to the international media in Astana, Kazakhstan.

He said, Pakistan has engines of growth like Karachi, Lahore and Faisalabad with which businessmen of Kazakhstan can get benefits from business connections, said a press release issued here on Sunday.

A. Kuantyrov said that Pakistan and Kazakhstan could play an important role in regional Economic and trade Integration, for which negotiations were going on in both countries. He said that Pakistan and Kazakhstan had opportunities for economic and trade cooperation in many sectors including textile, agriculture and energy.

A. Kuantyrov said that the volume of mutual trade between Pakistan and Kazakhstan was much less than its potential, which needed to be further increased.

He said that regional trade was very important without which the dream of economic prosperity in the region would not be realized. He said that the concept of a middle corridor was very important for regional connectivity from which all regional economies could get benefits.

The minister said that Kazakhstan is currently in trade balance and “we are striving for sustainable development for which we are working on stable economic policies.” He said that they were following the policy of developing their country’s current geo-political position for geo-economic benefits.

He said that revenue collection, food security and Small and Medium Enterprises (SMEs) were the pillars of our economic policies.

He said that currently, 45 percent women were working in the SME sector, adding that the government was trying for the maximum Foreign Direct Investment in Kazakhstan and there was already investment in Kazakhstan from European Union and Pacific countries.

He said that the Middle Corridor concept was very important in the economic policy of Kazakhstan and along with this, we were following the Trans Caspian policy which would pave the way for economic integration between the countries of the region.

The minister said that Kazakhstan had recently completed constitutional and political reforms and within ten months the process of reforms and elections was completed.

He said that after these constitutional reforms in Kazakhstan, the atmosphere for economic and investment would be smooth, from which a new face of Kazakhstan would be seen.

Free and fair elections in Kazakhstan will start a new democratic era in the country and it will have a positive impact on investment and economic inclusion in the country, he added.