Pakistan and Kyrgyzstan to deepen economic and trade integration

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ISLAMABAD: Pakistan and Kyrgyzstan have agreed to enhance economic and trade cooperation and increase regional connectivity to ensure regional economic and trade integration with Central Asian states.

Kyrgyzstan’s Deputy Foreign Minister Aibek Artykbaev called Federal Trade and Investment Minister Syed Naveed Qamar on Friday, according to a press release published here.

During the meeting, the two sides discussed ways to increase the volume of trade between the two countries and strengthen cooperation in other areas of mutual interest.

The meeting held at the minister’s office was attended by the Special Secretary for Commerce, Dr. Ahmed Mujtaba Memon, and the Additional Secretary, Syed Hamad Ali.

During the meeting, the two sides discussed ways to increase the volume of trade between the two countries and strengthen cooperation in other areas of mutual interest.

The minister said that the promotion of international trade, transit and investment is the pivot around which Pakistan seeks to design its economic policies.

Naveed Qamar said the government’s vision is to make Pakistan a trade, transit and transshipment hub ensuring connectivity with Afghanistan and beyond.

In this regard, Pakistan has signed a transit trade agreement with Uzbekistan and is negotiating a transit trade agreement with Kazakhstan and Tajikistan, he added.

Bilateral trade between Pakistan and Kyrgyzstan remained at $4.27 million in the financial year 2021-22, which does not reflect the true trade potential between the two countries, the minister said.

The Minister of Commerce said that the Pakistan-Kyrgyzstan Trade and Investment Forum was held from 19-20 April 2022 in Islamabad and 22 April in Lahore and wished such activities to be held regularly at the coming.

Syed Naveed Qamar maintained that the draft MoU on the establishment of the joint working group has been shared with the Kyrgyz Republic and their response is awaited.

The Kyrgyz Deputy Foreign Minister assured the Pakistani side of strengthening trade relations between the two countries and said he will take practical steps in this regard.

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