Pakistan and Kyrgyzstan have set an ambitious target to increase bilateral trade to $200 million by 2027, marking a significant milestone in strengthening their economic ties.
The announcement came after high-level talks between Prime Minister Shehbaz Sharif and Kyrgyzstan’s President Sadyr Zhaparov, who are both committed to enhancing cooperation across various sectors, including trade, energy, regional connectivity, and security.
During the meeting, Prime Minister Sharif encouraged Kyrgyzstan’s businessmen to explore joint ventures and identify areas of mutual cooperation for investment in sectors such as trade, education, and health in Pakistan.
He emphasized the strategic geographic advantage of Pakistan, particularly its access to ports like Karachi, Gwadar, and Port Qasim, which will serve as key access points for Kyrgyzstan to global markets. Sharif also highlighted a railroad project linking Kyrgyzstan with China and Uzbekistan, noting its potential benefits for both countries.
The two leaders reaffirmed their commitment to improving bilateral trade, with an existing trade volume of only $5 million expected to rise to $200 million in the next two years. This move was described as a quantum leap for Pakistan-Kyrgyzstan trade relations and is part of the broader efforts to enhance cooperation between the two countries.
Energy cooperation also featured prominently in the discussions, particularly the CASA-1000 project, which aims to transmit electricity from Central Asia to South Asia. Both leaders committed to supporting the project, with Kyrgyzstan having completed its part and Pakistan set to follow soon.
Regional connectivity and infrastructure development were further emphasized, with the two countries discussing the operationalization of the Quadrilateral Traffic in Transit Agreement (QTTA), which aims to enhance road links between Pakistan and Kyrgyzstan. This agreement will help create more efficient and sustainable trade routes for both countries.
Additionally, the two nations reviewed progress on other agreements, including education, agriculture, and tourism. Prime Minister Sharif highlighted that 8,500 Pakistani students are studying medicine in Kyrgyzstan, and both countries have agreed to establish a joint mechanism to certify these graduates for employment in both countries.
Kyrgyzstan’s President Zhaparov expressed the strategic importance of the partnership, particularly Kyrgyzstan’s location in the heart of Eurasia. He pointed out that Kyrgyzstan’s membership in the Eurasian Economic Union and its GSP+ status could offer Pakistan access to European and Eurasian markets.
Zhaparov also highlighted Kyrgyzstan’s focus on attracting investment in sectors such as hydropower, logistics, agriculture, tourism, and the halal industry, and invited Pakistani entrepreneurs to explore these opportunities. Additionally, he noted Kyrgyzstan’s advancements in the cryptocurrency sector, with the country recently launching a national stablecoin, and expressed readiness to cooperate with Pakistan in virtual assets.
The visit concluded with the signing of 15 memoranda of understanding (MoUs) and agreements across various sectors, including energy, agriculture, education, culture, and tourism. Among the key agreements was the establishment of sister city relations between Islamabad and Bishkek, enhancing bilateral ties at the local level. The two countries also agreed to deepen cooperation in energy, trade, and infrastructure to ensure mutual economic growth and prosperity.
The visit marks a significant step toward strengthening the relationship between Pakistan and Kyrgyzstan, with both sides committed to enhancing cooperation and realizing the full potential of their partnership.
