Kyrgyzstan and Pakistan intend to increase trade to $100 million

10:13, 16 октября 2024, Bishkek - 24.kg news agency

Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov met with the Prime Minister of Pakistan Shehbaz Sharif in Islamabad. The meeting took place as part of the meeting of the Heads of Government of the SCO member states. The press service of the Cabinet of Ministers reported.

Akylbek Japarov noted the significant potential for trade and economic cooperation between the countries, which, in his opinion, «has not yet been fully fulfilled.» He emphasized that the trade turnover between Kyrgyzstan and Pakistan in 2023 amounted to about $20 million, and proposed increasing this figure to $100 million next year, and in the medium term — to $500 million.

According to the Chairman of the Cabinet of Ministers, a quadripartite agreement on the transit of goods was signed between Pakistan, China, Kyrgyzstan and Kazakhstan, which gives the republic access to the sea through Pakistan.

In this regard, there has been an unprecedented increase in the cost of the Karakoram Highway. Unfortunately, for various reasons, this unique transport corridor is still in the initial phase of its work, and we need to jointly bring this important highway to maximum capacity as soon as possible.

Akylbek Japarov

In addition, he proposed creating a Kyrgyz-Pakistani Business Council to strengthen cooperation between entrepreneurs of the two countries and hold its first meeting in the Kyrgyz Republic in 2025.

Pakistani Prime Minister Shehbaz Sharif thanked Kyrgyzstan for its support in voting for the country’s non-permanent membership in the UN Security Council in 2025-2026 and expressed interest in developing mutually beneficial cooperation.

The parties also discussed issues of cultural and humanitarian cooperation, including the exchange of experience in the field of education.

At the end of the meeting, Akylbek Japarov invited Shehbaz Sharif to visit the Kyrgyz Republic.