Prime Minister (PM) Shehbaz Sharif is looking to increase the trade volume between Pakistan and Kazakhstan to $1 billion as both countries have signed over 30 memoranda of understanding (MoUs) in several sectors, including petroleum, mining and maritime affairs.
Addressing a joint press conference with President Kassym-Jomart Tokayev after the signing ceremony, the premier 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 commit to raising our trade volume to $1 billion within the next one year,” he said.
Earlier, President Tokayev was accorded a warm reception and a guard of honour as he arrived at the PM House to hold a one-on-one meeting with the premier.
The meeting was a part of the president’s two-day state visit to Islamabad on the invitation of PM Shehbaz. He is accompanied by a high-level delegation, comprising senior cabinet ministers and other high-ranking officials.
As the visiting dignitary arrived, the premier received him at the entrance of the PM House, where the formal reception took place.
The national anthems of Pakistan and Kazakhstan were played and a smart contingent of the three services of the Pakistan armed forces presented guard of honour.
The two leaders introduced their respective delegations to each other before proceeding for a one-on-one meeting, followed by talks at the delegation level.
During the talks, the two sides reviewed full spectrum of bilateral relations and explored new avenues to further deepen cooperation across diverse sectors.
The president also planted a commemorative sapling in the lawn of the PM House.