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Pakistan an attractive market for foreign investors: Kazakh Ambassador

ISLAMABAD, DEC 15 /DNA/ – Ambassador of Kazakhstan to Pakistan Yerzhan Kistafin has said that Pakistan is an attractive market for foreign investors, while it’s several sectors of economy like leather, shoe, textile, steel, food, pharmaceuticals and agriculture, have great potential for joint ventures with the private sector of Kazakhstan. He was addressing a meeting of All Pakistan Business Forum, held here in connection with to discuss the proposed launch of ‘Kazakhstan Pakistan Trade & Economic Window’ (#KPTEW).

APBF Secretary General Khurram Niaz Khan gave a detailed presentation on various aspects and features of #KPTEW. Beside APBF President Syed Maaz Mahmood, the meeting was attended by APBF board members, including FPCCI ex-regional chairman Manzoor Malik, APBF Lahore Board President Amir Munir, M. Naeem Chaudary, Yaqoob Saifi and senior officials of Embassy of Kazakhstan in Pakistan.

The Ambassador appreciated the efforts of APBF to launch the KPTEW, calling for exploring untapped trade potential through the ‘Kazakhstan Pakistan Trade & Economic Window’ to become a key trading partners. He said the launch of Kazakhstan Pakistan Trade & Economic Window will prove to be a very beneficial for the business communities of both countries, having a positive and long-term impact on the economy of two countries. The APBF is an open platform for all the business community that is very impressive while tourism can prove to be a great opportunity for both countries, bringing the people of both countries together, he added.

He said that Kazakhstan companies have keen interest to establish partnership with the businesses in Pakistan. He also intended to ink an MoU with the APBF for further close working and to enhance bilateral trade and investment opportunities between the two countries.

Mr Yerzhan Kistafin said that Pakistan can enhance exports in the areas of pharmaceuticals, garments, value-added textiles, leather items, furniture, auto parts, ceramics, fruits, vegetables, pharmaceuticals and surgical instruments, as they have a great potential in Kazakhstan, he said.

Speaking on the occasion, APBF President Syed Maaz Mahmood said that we are having a favorable trade balance with Kazakhstan as our exports stood at 79.7 million dollars in 2020-21 as compared to meager imports from Kazakhstan which were just 2.5 million dollars. This puts the total volume of trade at around 82 million dollars, which needs to be enhanced further.

He suggested that both countries should focus on establishing air, road and railway links in order to boost two-way trade. Regular exchange of trade delegations and holding single-country exhibitions on a reciprocal basis is necessary to identify new areas of mutual cooperation.

Maaz Mahmood recommended that both countries must take initiatives to enhance trade and investments in textile and cotton products, pharmaceuticals, and food items, engineering equipment and machinery, and construction enterprises. He said there is a paradigm shift in Central Asia to further enhance regional connectivity through greater regional cooperation and socio-economic integration due to which there is an urgent need that both the countries must institutionalize all possible measures to further strengthen their bilateral relations.

Syed Maaz Mahmood said the scope and horizon of diplomatic relations between the two countries are diversified and dynamic due to which right from the beginning both the countries have been sharing better political understandings.

APBF President thanked his Excellency for his great interest to bring business community of Pakistan and Kazakhstan closer. He congratulated Excellency for conducting successful Kazakhstan-Pakistan Business Forum last month in Kazakhstan. He further added that APBF has done great job and achieved high goal of bringing business communities of two countries, pledging to do its best for the two brotherly countries.

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