ASTANA, Kazakhstan, November 22. Kazakhstan and Pakistan are rolling up their sleeves to strengthen their business and investment connections during a roundtable in Islamabad, Trend reports
The roundtable took place while the Deputy Minister of Foreign Affairs of Kazakhstan, Alibek Bakayev, was in the capital of Pakistan, Islamabad, alongside the Managing Director of Kazakh Invest, Azamat Kozhanov, marking a significant Kazakhstan-Pakistan gathering.
On the Pakistani side, the roundtable saw a gathering of representatives from the public sector and a cornucopia of industries, including logistics, banking services, agriculture, light industry, pharmaceuticals, construction, and a few more. It was a real melting pot of ideas and expertise. All in all, the roundtable gathered the bigwigs of around 20 Pakistani companies hailing from various corners of the country.
In his speech, Azamat Kozhanov emphasized the growing potential for the development of bilateral relations and the need to increase mutual investments for the implementation of joint projects.
"Despite positive dynamics, the current pace of economic cooperation between Kazakhstan and Pakistan remains underdeveloped. It is strategically important for Kazakhstan to ensure access for its products to the Pakistani market, where over 250 million people reside. Additionally, there is a unique opportunity to attract Pakistani investors to Kazakhstan's agro-industrial complex, which would contribute to strengthening the country's food security," Kozhanov noted.
The roundtable also featured negotiations with the Federal Minister of Industry and Production, the Minister for National Food Security and Research, Rana Tanveer Hussain, the First Deputy Minister and Federal Secretary for Economic Affairs, Kazim Niaz, and the First Deputy Minister and Federal Secretary for Trade, Javad Pohl Khawaja. Additionally, Fauji Fertilizer Company, one of Pakistan's largest producers of mineral fertilizers, presented potential investment projects for implementation in Kazakhstan.
The discussions became an important platform for establishing connections, exchanging experiences, and discussing promising projects between the two countries.
Bilateral trade between Kazakhstan and Pakistan amounted to $52.4 million in 2023, and for the first 8 months of this year, it increased by 16 percent, reaching approximately $40 million. During this period, Kazakhstan's exports doubled, amounting to $8.3 million. There are over 429 enterprises with Pakistani capital in Kazakhstan, and Pakistan has a trade representative office in Almaty.
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