Kazakh Ambassador Stresses Enhancing Trade With Pakistan

Mbassador of Kazakhstan to Pakistan Barlybay Sadykov said on Tuesday that trade volume between Pakistan and Kazakhstan is very low, and Kazakhstan has unique business opportunities with huge profit margins that must be availed by Pakistani businessmen through joint ventures

LAHORE, (UrduPoint / Pakistan Point News - 2nd Apr, 2019 ) :Ambassador of Kazakhstan to Pakistan Barlybay Sadykov said on Tuesday that trade volume between Pakistan and Kazakhstan is very low, and Kazakhstan has unique business opportunities with huge profit margins that must be availed by Pakistani businessmen through joint ventures.

Talking to business community here at Lahore Chamber of Commerce & Industry (LCCI), he said that Pakistan is one of the leading countries in agriculture, textile, surgical instrument, pharmaceutical and various other products which have a great demand in Kazakhstan. Pakistani exporters should come forward and explore the new markets in Central Asian states.

The ambassador said that Kazakhstan is one of the largest economies of Central Asia and abundant with oil, gas, metal and various other minerals. He said that China and Russia are heavily investing in Kazakhstan. It holds 28th position in doing business and has one-stop-shop for foreign investors. He mentioned that import of raw material for manufacturing is duty-free while electricity price is very low.

The ambassador said that Kazakhstan is a doorway to half a billion consumers. Pakistan businessmen should step into joint ventures with the businessmen in Kazakhstan and avail huge benefit.

Earlier, in his welcome address, LCCI President Almas Hyder said that international ranking of Kazakhstan in 'Ease of Doing Business' is impressive and termed Kazakhstan as a phenomenal country, citing that it is the world's largest land-locked country and abundant with vast mineral resources.

Pakistan and Kazakhstan are member states of the OIC and have good diplomatic relations but these ties are not actually reflected in terms of two way trade.

He said that three routes including China, Afghanistan and Iran connect Pakistan and Kazakhstan. He said that shortest route for trade can help boost mutual trade and economic ties.

The items of exports to Kazakhstan include rice, oil seeds, medicaments, bandages, surgical instruments, article of apparel and spices etc. whereas the imports from Kazakhstan comprise of salt of oxometallic acids, dried vegetables, machinery, tea, waste and scrap of paper and paperboard etc.

Almas Hyder said that in order to enhance the level of trade, more tradable items should be identified while keeping in view the market demands in two economies.

LCCI Senior Vice President Khawaja Shahzad Nasir and Vice President Faheem-ur-Rehman Saigal also spoke on the occasion, while former LCCIoffice-bearers and Executive Committee Members were also present.