Pakistan and Kyrgyzstan agreed on Friday to expand economic and trade cooperation and regional connectivity in order to promote regional economic and commercial integration with Central Asian states.
According to a news statement released here, Kyrgyzstan’s Deputy Foreign Minister, Aibek Artykbaev, met with Federal Minister for Commerce and Investment, Syed Naveed Qamar, on Friday.
During the conference, both parties addressed methods and means of growing bilateral trade volume and enhancing cooperation in other areas of mutual interest.
Special Secretary Commerce Dr. Ahmed Mujtaba Memon and Additional Secretary Syed Hamad Ali attended the meeting, which was conducted at the Minister’s Office.
Both parties addressed strategies for boosting trade volume between the two nations as well as their cooperation in other areas of shared interest during the discussion.
According to the minister, Pakistan’s economic strategies are centred on encouraging international trade, transportation, and investment.
According to Naveed Qamar, the government’s goal is to turn Pakistan into a hub for trade, transit, and transhipment in order to maintain connectivity with Afghanistan and other countries.
In this regard, he said, Pakistan has a transit trade deal with Uzbekistan and is in talks for similar agreements with Tajikistan and Kazakhstan.
According to the minister, the level of bilateral commerce between Pakistan and Kyrgyzstan during the fiscal year 2021–22 remained at US$4.27m, which is below its potential.
The Pak-Kyrgyzstan Trade and Investment Forum was conducted in Islamabad from April 19–20, 2022, and in Lahore on April 22, according to the minister of commerce. He expressed the hope that such events would be held frequently in the future.
According to Syed Naveed Qamar, the Kyrgyz Republic has been presented with the draught MoU on the establishment of the Joint Working Group, and their reaction is anticipated.
The Deputy Foreign Minister of Kyrgyzstan promised the Pakistani side that he would take concrete steps to further strengthen trade ties between the two nations.
