ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday set a $1 billion bilateral trade target for Pakistan and Kazakhstan as the two countries signed more than 30 memoranda of understanding (MoUs) across multiple sectors, including petroleum, mining and maritime affairs.
Addressing a joint press conference after the signing ceremony, the prime minister said the existing level of trade between Islamabad and Astana did not reflect the true strength of relations or the economic potential of the two sides.
“Unfortunately, our trade volume is a meagre $250 million, which does not reflect the strength of our friendship and the potential of both countries. Let us make committment to take up our trade volume to $1 billion within the next year,” he said.
Besides MoUs, Islamabad and Astana also signed a joint declaration for the establishment of a strategic partnership between the two countries.
PM Shehbaz described the signing of the joint declaration as a "historic moment in the history of two brotherly countries" to pursue the shared objective of peace, progress and prosperity.
He said both countries will encourage their business communities to come forward and invest in joint ventures.
Alluding to the immense natural resources of both countries, the Prime Minister said collaboration in the energy sector will be a win-win situation. "Pakistan recognises Kazakhstan as a strategic and one of the most valued partners in Central Asia," he added.
The premier assured to work closely with Kazakhstan to ensure the speedy implementation of 37 MOUs signed to ensure strong relations in trade, economy and culture.
For his part, the Kazakh President called Pakistan "a reliable and important partner in South Asia and beyond". He said Pakistan was a brotherly country with a rich history, vibrant culture and well-established standing on the international stage.
President Tokayev said the people of both countries were united by centuries-old ties rooted in the legacy of the great Silk Road as well as by deep cultural and spiritual affinity. The two nations share common values, traditions and joint aspirations for the future.
Describing the signing of the joint declaration as historic, the Kazakh President said both countries will open up immense opportunities to engage across the full spectrum of bilateral and multilateral agendas by elevating their relations to a new level.
Alluding to the role of Pakistan in the UN Security Council, the Kazakh President said that its constructive and responsible steps contributed meaningfully to strengthening peace and stability in the region.
Tokayev also acknowledged that Pakistan possesses strong economic potential, well-developed industrial capacity and extensive transit and transport capabilities. "Its agriculture and medical products are widely represented in international markets," he added.
He said both countries have also agreed to expand mutually beneficial cooperation in the defence industry. He mentioned that cooperation between security and law enforcement agencies has been developing dynamically in recent years.
The Kazakh President said that the two countries have agreed to enhance their trade volume to one billion dollars in the near future. He said priority will be given to transport and logistics projects aimed at expanding the trade volume.
The Kazakh President said the two sides also discussed the capabilities of Karachi and Gwadar Ports. He said they agreed to explore the possibility of resuming direct air connections between the two countries.
The two sides signed 37 MOUs and agreements for the promotion of cooperation across diverse fields.
These include petroleum, mining and geosciences; maritime affairs, customs; railways; agriculture; artificial intelligence and digital development; health, education, science and technology, news exchange and broadcasting; information exchange and professional development; climate change and environmental protection; economy; culture and humanitarian collaboration; crime prevention and sports.
The two sides also signed a treaty on extradition and a transit trade agreement.
Earlier, Kazak President Kassym-Jomart Tokayev was accorded a warm reception and a guard of honour as he arrived at the Prime Minister’s House to hold one-on-one meeting with PM Shehbaz.
Accompanied by a high-level delegation, comprising senior cabinet ministers and other high-ranking officials, the Kazakhstan president arrived in Islamabad for his first two-day state visit, at the invitation of Prime Minister Shehbaz.
As the visiting dignitary arrived, the prime minister received him at the entrance of the PM House, where the formal reception took place.
The national anthems of Kazakhstan and Pakistan were played while both leaders stood on the saluting dais.
A smartly attired contingent of the three services of the Pakistan armed forces presented the guard of honour, which President Tokayev reviewed.
The two leaders introduced their respective delegations to each other before proceeding for one-on-one meeting, followed by talks at the delegation level.
During the talks, the two sides will review the full spectrum of bilateral relations and explore new avenues to further deepen cooperation across diverse sectors. Both sides will also sign Memoranda of Understanding (MoUs) and agreements to boost bilateral ties.
Later, the Kazakh president also planted a commemorative sapling in the lawn of the Prime Minister’s House.
The route of the Kazakhstan leader’s motorcade and main avenues of the federal capital were decorated with Pakistani and Kazakhstan flags as well as the large portraits of President Tokayev.
Separately, Deputy Prime Minister and Foreign Minister Ishaq Dar held a one-on-one meeting with Kazakhstan president, the Foreign Office said on X.
Welcoming President Tokayev to Pakistan, the deputy premier extended warm greetings from President Asif Ali Zardari, PM Shehbaz, government, and people of Pakistan.
He underscored Pakistan’s appreciation for the growing momentum of high-level political exchanges.
Dar also reaffirmed the shared commitment to expand bilateral cooperation across political, economic, and people-to-people domains, and to work together for durable peace, stability, and development in the region.
