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Pakistan ready to invest in oil and gas sector of Kazakh economy

Oil&Gas Materials 22 August 2014 08:05 (UTC +04:00)
Pakistan is working to improve trade turnover with Kazakhstan, and ready to invest in the metallurgy, oil and gas sectors of the Kazakh economy,
Pakistan ready to invest in oil and gas sector of Kazakh economy

Astana, Kazakhstan, Aug. 22

By Daniar Mukhtarov - Trend:

Pakistan is working to improve trade turnover with Kazakhstan, and ready to invest in the metallurgy, oil and gas sectors of the Kazakh economy, Pakistani Ambassador in Kazakhstan, Shaukat Ali Mukadam told reporters Aug. 20.

"We are ready to invest in the oil and gas sector, as well as in metallurgy. Specifically, there are two companies. One company is interested in a joint venture for oil production, and the other one in the purchase of this oil," he said.

Mukadam went on to add that Pakistan is ready to invest primarily in the enterprises producing 15,000 to 50,000 barrels of oil per day.

"However, the amount of investments depends on the actual capacity," he noted.

Pakistani diplomat also said his country intends, in the next three years, to boost trade turnover with Kazakhstan to $100 million per year.

"We plan in the next three years to increase trade turnover to $100 million per year," Mukadam noted. "This figure is not a limit, because the two countries have all the opportunities to expand the partnership."

The ambassador went on to say that prior to his arrival in Kazakhstan, he served for several years as ambassador to South Korea, and the turnover between Pakistan and South Korea at that time was $1.6 billion.

He said in general in 2012, the trade between Kazakhstan and Pakistan totalled $36 million, some $21 million of which accounted for Pakistani exports, and $15 million - to Kazakh exports.

The trade between the two countries increased in 2013 by 22 percent reaching $44.3 million.

Edited by CN

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