Kazakhstan and Pakistan Step Up Investment Cooperation
As part of the visit of Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Bakayev to Islamabad, a Kazakh-Pakistani round table was held with the participation of Managing Director of JSC "NC "KAZAKH INVEST" Azamat Kozhanov.
Representatives of the public sector and sectors of the Pakistani economy, such as logistics, banking services, agriculture, light industry, pharmaceuticals, construction, etc., participated in the round table from the Pakistani side. The heads of about 20 Pakistani companies from various regions participated in the round table.
In his speech, A. Kozhanov noted the growing potential for developing bilateral relations and the need to increase mutual investments to implement joint projects. The Managing Director also told the Pakistani partners about Kazakhstan's investment climate, state support measures, and opportunities in promising industries, including fertilizer production, low-tonnage chemicals, and deep grain processing.
"The current pace of economic cooperation between Kazakhstan and Pakistan remains insufficiently realized despite the positive dynamics and growth. The key task is to develop a logistics connection. Trial shipments have already begun, and work is underway to create stable and efficient routes. This issue is the most important for further increasing trade turnover and strengthening economic cooperation. It is strategically important for Kazakhstan to ensure access to its products to the market of Pakistan, where more than 250 million people live. In addition, there is a unique opportunity to attract Pakistani investors to the agro-industrial complex of Kazakhstan, which will contribute to strengthening the country's food security," A. Kozhanov said.
The Kazakh side also held several meetings with representatives of the public sector of Pakistan and fertilizer manufacturers and companies interested in agricultural development to grow investment cooperation. Thus, negotiations were held with Federal Minister of Industry and Production, Minister of National Food Security and Research Rana Tanveer Hussain, First Deputy Minister – Federal Secretary for Economic Affairs Kazim Niaz, as well as First Deputy Minister – Federal Secretary of Trade Jawad Paul Khawaja. Along with this, Fauji Fertilizer Company, one of Pakistan's largest producers of mineral fertilizers, presented potential investment projects for implementation in Kazakhstan.
The round table has become an important platform for networking, productive exchange of experience, and discussing promising projects between the two countries.
For reference:
The bilateral trade turnover between Kazakhstan and Pakistan in 2023 amounted to $52.4 million, and in 8 months of this year increased by 16%, amounting to about $40 million. At the same time, Kazakhstan's exports doubled, reaching $8.3 million.
Over 429 enterprises in Kazakhstan involve Pakistani capital, and a Pakistani trade representative office is located in Almaty.
