Pakistan, Kazakhstan sign 30 MoUs to boost trade by $1 billion
President Kassym-Jomart Tokayev and Deputy Prime Minister Ishaq Dar. File Photo
President Kassym-Jomart Tokayev and Deputy Prime Minister Ishaq Dar. File Photo
Islamabad (Web Desk): Pakistan and Kazakhstan signed 30 memorandum of understandings (MoUs) as PM Shehbaz urged raising bilateral trade to $1 billion, calling current levels far below real potential.

Prime Minister Shehbaz Sharif said Pakistan and Kazakhstan want to sharply increase trade and investment after signing more than 30 memoranda of understanding in key sectors.

Speaking after the signing ceremony, the prime minister said current trade between the two countries stands at only $250 million, which does not match the strength of their friendship or economic capacity.

Also Read: Pakistan seeks extension of $1.2 billion Saudi oil payment facility

He stressed that both sides should aim to raise trade volume to $1 billion within the next year, adding that strong political ties must now turn into real economic results.

The agreements cover areas such as petroleum, mining, maritime affairs, and other sectors that can open new business opportunities for both countries.

Earlier, Kazakhstan President Kassym-Jomart Tokayev arrived in Islamabad on his first two-day state visit, following an invitation from Prime Minister Shehbaz.

He was welcomed at the Prime Minister’s House with a guard of honor, where national anthems of both countries were played and a smartly dressed military contingent presented formal honors.

The two leaders held a one-on-one meeting, followed by delegation-level talks to review bilateral relations and explore new areas of cooperation.

Also Read: Turkey’s Erdogan visits Saudi Arabia, signals major regional cooperation

Later, President Tokayev planted a commemorative sapling at the Prime Minister’s House, marking the importance of the visit.

Separately, Deputy Prime Minister and Foreign Minister Ishaq Dar also met the Kazakh president and reaffirmed Pakistan’s commitment to expand cooperation in political, economic, and people-to-people areas.