Pakistan, Kyrgyzstan Vow to Boost Bilateral Trade
In a significant move to enhance economic cooperation, Pakistan and Kyrgyzstan recognized the potential for increasing bilateral trade, currently valued at just $8.63 million. This development was discussed during a meeting between Pakistan’s Federal Minister for Economic Affairs, Ahad Cheema, and Kyrgyzstan’s Minister of Finance, Daniiar Amangeldiev, on the sidelines of the SCO Summit.
Pakistan’s exports to Kyrgyzstan stand at $3.33 million, while imports from Kyrgyzstan reached $5.3 million in the fiscal year 2022-23. Cheema highlighted the need to enhance these figures and address the existing trade imbalance, expressing appreciation for the Kyrgyz delegation’s participation in the 23rd Council of Heads of Government meeting of the Shanghai Cooperation Organization (SCO) in Islamabad.
The Minister acknowledged the productive outcomes of the 4th Session of the Pak-Kyrgyz Inter-Governmental Commission (IGC) held in November 2023 and reaffirmed Pakistan’s commitment to following up on these agreements. Various sectors for mutual cooperation were discussed, including trade, agriculture, energy, mining, digital development, tourism, health, banking, and education.
Cheema emphasized the importance of convening Joint Working Groups (JWGs) to foster collaboration in key sectors such as agriculture and trade. He also expressed eagerness to host the upcoming 5th Session of the IGC in Islamabad, reiterating Pakistan’s dedication to strengthening ties through this mechanism.
The meeting also focused on finalizing the ‘Transit Trade Agreement’ and related MoUs for cooperation in agriculture and trade.
