Pak-Kazakh sign Joint Protocol to promote trade and investment

ISLAMABAD –– The 7th Session of Pak-Kazakh Joint Ministerial Commission (JMC) was held on April 14-15, in Islamabad. The Session was co-chaired by Syed Naveed Qamar, Minister for Water & Power, Islamic Republic of Pakistan and AzatBekturov, Vice Minister of Transport and Communication of Republic of Kazakhstan, both the delegations acknowledged deep historical cultural and political relations between the two countries and expressed the hope that the current momentum in translating excellent political relations into commercial and economic opportunities would further promote bilateral cooperation.

During the JMC meeting discussions were held on promoting cooperation in various economic and technical fields which include promotion of trade & investment, agriculture, joint ventures in fields of manufacturing/SMEs, petroleum & natural resources, banking & finance, science & education, information technology health, culture and tourism.

After the concluding session Federal Minister Syed Naveed Qamar and Kazakh vice Minister signed the Joint Protocol on behalf of their respective countries.

Both sides agreed, to encourage/facilitate their respective chambers of commerce & industry to setup a Joint Business council to enhance interaction between the private sectors to finalize memorandum on mutual cooperation between JSC ’National Agency on export and investment “KAZNEX INVEST” and Trade Development Authority of Pakistan (TDAP), to signing of a Memorandum of Understanding on establishment of a Joint Investment Company, singing of Memorandum of Understanding (MOU) for cooperation between the SMEs, Pakistan offered Kazakhstan to trade with the South East Asia and Middle East through Pakistani ports.

The Kazakh side appreciated the proposal for joint study, Pakistan offered expertise of Railway Construction Pakistan Ltd. (RAILCOP) and Pakistan Railways Advisory and Consultancy Services (PRACS) as well as export of Rolling Stocks, Kazakhstan side requested to offer the specific projects in energy, water and petroleum sectors.

The meeting concluded with sincere desire from both the countries to intensify and promote bilateral cooperation.

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