Trade and Commerce Flourishes Between Pakistan and Kazakhstan.

Report by Ms. Irum Fawad Executive International Affair TN Media:

In recent years, the partnership between Pakistan and Kazakhstan has blossomed, marking a significant upswing in trade and commerce relations. Central Asia, increasingly recognized as a hub for global collaboration, has solidified its position as a nexus of alliances and a thriving center for economic activity. Among its peers in the region, Kazakhstan stands out as a financial and commercial powerhouse, having garnered substantial global attention since declaring independence in 1991. Notably, it has attracted an astounding $320 billion in investments, constituting a remarkable 60% of the total foreign direct investment (FDI) flowing into Central Asia.

This growing synergy between Pakistan and Kazakhstan spans various sectors, including trade, commerce, tourism, and cultural exchange. Pakistan’s Gwadar Port emerges as a pivotal asset, providing Kazakhstan with a direct maritime route to key markets in the Middle East, Africa, and the Far East. In turn, Kazakhstan’s rich energy resources position it well to address Pakistan’s escalating energy demands.

The recent signing of a memorandum between Alin Kanat, President of the Grappling Federation and founder of the Qazaq Batyry Martial Arts Academy, and the General Manager of SukhChain Wellness Club in Lahore, signifies a concerted effort to promote a healthy lifestyle and foster the development of martial arts in Pakistan.

Educational and research collaborations between the two nations have also intensified. A significant meeting in October convened Gulzhan Argyn, Director of the Center for Trade and Economic Strategies, alongside representatives from Pakistan’s Policy Research Institute of Market Economy (PRIME) and the Pakistan Institute of Development Economics (PIDE), to explore avenues of mutual cooperation.

Professor Zhaksylyk Sabitov, a distinguished historian and director of the Scientific Institute for the Study of the Ulus of Jochi, recently visited Pakistan, delivering insightful lectures at universities and proposing joint research initiatives. Concurrently, professors from Quaid-i-Azam University are currently engaged in sharing knowledge at Pavlodar State University in Kazakhstan.

Recognizing the pivotal role of banking channels in fostering bilateral trade, initiatives such as the establishment of the AIFC Islamic Branch in collaboration with Pakistan’s Ambassador in Astana, Nauman Bashir Bhatti, and engagements between Kazakhstan’s Ambassador in Islamabad and key banking figures underscore the commitment to enhancing financial sector cooperation.

The inaugural meeting of the Kazakhstan-Pakistan Business Council held in July further cemented ties, with discussions centering on activating overland and logistic routes, including the Trans-Afghan route and the Karakoram Highway.

The burgeoning trade relationship between Pakistan and Kazakhstan is bolstered by their respective strengths, historical affinities, and the opportunities presented by the Belt and Road Initiative. As both nations anticipate the forthcoming transit and trade agreement, aimed at achieving a bilateral trade volume target of $1 billion, optimism for continued growth prevails.

In a bid to catalyze change, the Kazakhstani Government extended an invitation to a Pakistani businesswoman, resulting in a productive visit marked by extensive international networking, market assessments, and bilateral exchanges. Notably, Irum Fawad, along with 40 delegates, showcased her brand, I.F. Designstudios, specializing in Eastern/Western fusion dresses and accessories, while engaging with key stakeholders to promote Pakistani-made products.


TN Media News