Islamabad, Nov 25: Commerce Minister Stresses Trade Diversification to Boost Pak-Belarus Bilateral Trade Potential. The current volume of trade between Pakistan and Belarus does not reflect the two countries’ economic potential, according to Federal Minister for Commence Jam Kamal Khan, who stated on Monday that both nations should diversify their trade with one another to take advantage of their respective strong sectors.
According to the minister, foreign investment is welcome in all areas of the economy, with energy, infrastructure, telecommunications, manufacturing, mining, ICT, agriculture, and many other areas being priority areas. This was said by Federal Minister of Commence Jam Kamal Khan during his speech to the “Pakistan Belarus Business Forum,” which was attended by numerous business leaders and included the Republic of Belarus’s Minister for Energy, Mr. Aleksei Kushnarenko.
According to the minister, eight B2B contracts and memorandums of understanding will be inked during the Forum, demonstrating the complementary nature of bilateral trade and opening the door for future developments.
“Co-chairing the Pakistan-Belarus Business Forum with Mr. Aleksei Kushnarenko, Minister of Energy, Republic of Belarus, is a great honor for me,” he said. Additionally, on September 25–26, 2024, in Islamabad, we co-chaired the 7th session of the Pakistan-Belarus Joint Ministerial Commission. And I’m pleased to report that most of the choices we made in the JMC are coming to pass. Without Mr. Aleksei Kushnarenko’s assistance and cooperation, this would not have been feasible.
“I think there is a lot of room to grow trade between Pakistan and Belarus in all areas, but especially in the areas of food, pharmaceuticals, textiles, leather, logistics, and energy.” Although both parties must put forth great effort to reduce tariff and non-tariff barriers and rationalize import requirements to provide each other with meaningful market access, I believe that the forums and actions would assist us in reaching the crucial growth milestone,” he stated. “I am quite hopeful that these engagements will help us diversify our trade baskets and increase our trade with each other,” he said.
In the course of the talks and business-to-business meetings, I also hope that both parties will expand on the areas of cooperation in detail and find workable answers to the problems we are experiencing as well as a path forward to improve bilateral trade, investment, and connectivity. According to the minister, a significant portion of the two nations’ trade and exports are focused on surgical instruments, which account for almost 62% of all exports to Belarus and imports of Belarusian tractors and equipment.
With a population of 250 million, Pakistan is the sixth largest market globally and a desirable market. According to him, the economy has enormous potential for expansion and improvement and is supported by a multitude of indigenous natural and industrial resources.
He stated that Pakistan looks forward to receiving investment and knowledge and technology transfer from Belarus through joint ventures, and that bilateral commercial cooperation might improve Pakistan’s exports in meat and dairy, agriculture, wood, paper, and paperboard. I want to mention that Belarusian tractors are well-known in Pakistan and are seen as a representation of toughness and longevity.
This also holds true for our bilateral relations. I hope that this collaboration will be expanded to include additional automotive and agricultural machinery industries. Improving regional trade, investment, and economic connectivity is extremely important to the Pakistani government, he said, adding, “We want to move very quickly on big regional connectivity projects and make Pakistan.
One of these was in the area of Electronic Cooperation, when the creation of the Roadmap for Comprehensive Cooperation for 2025–2027 was decided upon. According to him, this roadmap has provided dates and duties to the relevant Ministries, organizations, and agencies, which will enable us to meet the goals on time.
Pakistan and Belarus are also working closely to promote regional trade and connectivity as members of the Shanghai Cooperation Organization (SCO), the minister said, adding that their cooperation within the SCO complements their bilateral initiatives and highlights a shared commitment to advancing economic and regional development.
These initiatives demonstrate the two countries’ expanding collaboration, which promotes advancement on both sides as well as in the larger regional context. According to Jam Kamal, Pakistan and Belarus have maintained diplomatic ties for a long time, and the Pakistani government places a high value on these ties.
The high-level gatherings on different forums and the honorable president of Belarus’s visit to Pakistan both demonstrate this. He claimed that hosting this Pakistan-Belarus Business Forum is an expression of the great ties that are growing stronger and stronger every day. “I want to thank the Belarusian government and Mr. Aleksei Kushnarenko once more for bringing the business delegation here. Let’s take advantage of this chance to engage with one another, create a better future, and investigate more growth and trade opportunities.
“We can confidently state that events of this format are an effective platform for direct dialogue between the business circles of Belarus and Pakistan,” said Mr. Aleksei Kushnarenko, Minister of Energy of the Republic of Belarus, who opened the next Pakistani-Belarusian business forum today. According to him, there is a market for light industrial goods and food products from Pakistan in Belarus, and there is a demand for Belarusian agricultural machinery, industrial, petrochemical, and dairy products in Pakistan.
He added that the current potential for cooperation enables us to establish and accomplish more challenging goals in order to raise the bar for international trade, economic cooperation, and humanitarian assistance between our nations.The next Pakistani-Belarusian business forum was opened today by Mr. Aleksei Kushnarenko, Minister of Energy of the Republic of Belarus. “We can confidently state that events of this format are an effective platform for direct dialogue between the business circles of Belarus and Pakistan,” he stated.
He claims that there is a market for Pakistani food products and light industrial goods in Belarus as well as a need for Belarusian dairy, petrochemical, industrial, and agricultural apparatus in Pakistan. In order to raise the bar for international trade, economic collaboration, and humanitarian assistance between our nations, he continued, we may set and achieve more ambitious goals thanks to the current potential for cooperation.
