$200 million in deals inked at Kazakhstan-Pakistan Business Forum
President Kassym-Jomart Tokayev of Kazakhstan and Prime Minister Shehbaz Sharif of Pakistan participated in the Kazakhstan-Pakistan Business Forum, Qazinform News Agency reports, citing the Akorda press service.
In his speech, the Head of State, Kassym-Jomart Tokayev, expressed his gratitude to Prime Minister Shehbaz Sharif for the initiative to organize this significant event.
"I consider my first state visit to Pakistan a historic milestone in our bilateral cooperation. We have signed a Joint Declaration that elevates our partnership to a strategic level. During today's business forum, over 30 commercial agreements totaling around $200 million were signed, which will serve as a powerful catalyst for further strengthening the trade-economic and investment cooperation between the brotherly nations. Indeed, our partnership is steadily expanding. Last year, trade turnover between the two countries nearly doubled. Over 200 companies with Pakistani capital are already operating in Kazakhstan across construction, agriculture, food processing, industry, and many other sectors. Building on this positive momentum, we have set an ambitious yet fully achievable goal to increase bilateral trade to $1 billion," stated Kassym-Jomart Tokayev.
The President announced that he has instructed the Government to intensify interaction between the two nations' business communities, including through the mechanisms of the Kazakhstan-Pakistan Intergovernmental Commission.
"As the largest economy in Central Asia, Kazakhstan plays a vital role in ensuring regional growth and creating new opportunities. Last year, our economy grew by 6.5%, resulting in GDP exceeding $300 billion, with GDP per capita reaching $15,000. These indicators underscore the resilience of our market and its high economic potential. We are committed to maintaining progress by consistently improving our institutional frameworks. Our economic strategy is aimed at diversifying trade and investment, stimulating innovation, and promoting a knowledge-based development model. The Foreign Investors' Council, which I chair, reflects our unwavering commitment to the principles of transparency, fairness, and the continuous improvement of the business climate in Kazakhstan. The National Digital Investment Platform, operating on a one-stop-shop principle, will further simplify processes for both investors and businesses," the Head of State said.
Earlier, President Kassym-Jomart Tokayev of Kazakhstan and Prime Minister Shehbaz Sharif of Pakistan unveiled cultural centers and the Dostyq sports center in Islamabad.