Prime Minister Shehbaz Sharif sets $1 billion bilateral trade target within a year
Pakistan and Kazakhstan on Wednesday signed 19 Memorandums of Understanding (MoUs) and agreements aimed at strengthening cooperation across a wide range of sectors including trade, investment, energy, railways, artificial intelligence, digital development, education, health, sports, logistics and climate change.
The agreements were signed during an official ceremony held at the Prime Minister’s House, attended by Prime Minister Muhammad Shehbaz Sharif and President of Kazakhstan Kassym-Jomart Tokayev, marking a significant milestone in bilateral relations.
Speaking on the occasion, Prime Minister Shehbaz Sharif said there are vast opportunities to increase bilateral trade between the two countries and set a target of achieving one billion dollars in two-way trade within one year. He said that joint efforts would help achieve economic and commercial cooperation goals, adding that the signed agreements reflect the shared commitment to expanding bilateral ties. He termed the strategic partnership agreement as highly significant, noting that it would have long-term positive impacts on relations between Pakistan and Kazakhstan.
The MoUs and agreements cover cooperation in multiple areas including mining and petroleum, United Nations peacekeeping missions, exchange of prisoners, maritime cooperation, transit trade, customs cooperation, railways, logistics, plant protection, veterinary services, artificial intelligence, digital development, health, climate change, higher education, banking and financial management, culture, media cooperation between APP and Kazakhstan State Television, virtual assets, ports and maritime infrastructure. In total, 19 documents were exchanged to promote collaboration across these sectors.
Prime Minister Shehbaz Sharif and President Kassym-Jomart Tokayev also signed a joint declaration reinforcing the strategic partnership between the two countries. The Prime Minister welcomed the Kazakh president and his delegation, describing the visit as historic and noting that it was the first visit by a Kazakh president to Pakistan in 23 years. He said that constructive and positive discussions were held, and reaffirmed Pakistan’s commitment to implementing the signed agreements in letter and spirit.
The Prime Minister also highlighted that Pakistan and Kazakhstan are members of the Gaza Board of Peace and expressed hope for lasting peace and prosperity in Gaza. He said that both countries could further enhance cooperation in the energy sector and explore new avenues of partnership while strengthening existing ties.
President Kassym-Jomart Tokayev thanked the government and people of Pakistan for the warm hospitality and described Pakistan as a trusted friend and strategic partner of Kazakhstan. He said both countries share common values and traditions, and that the joint declaration and agreements hold great importance for the future of bilateral relations. He praised Pakistan’s efforts for peace and stability in the region and acknowledged the country’s globally recognized progress in the defence sector.
President Tokayev said that cooperation between Pakistan and Kazakhstan in trade and economic sectors is steadily growing and reaffirmed the commitment of both sides to achieving the one billion dollar trade target. He expressed Kazakhstan’s willingness to expand cooperation with Pakistan in multiple sectors, including transit trade, use of Karachi and Gwadar ports, air connectivity, Islamic finance, science and education. He invited Pakistani investors to explore attractive business opportunities in Kazakhstan and said that this visit marks the beginning of a new chapter in relations between the two countries.
