Pakistan, Kyrgyzstan sign agreement to boost bilateral trade to $200m in two years

Pakistan and Kyrgyzstan have signed a new agreement to significantly increase their bilateral trade to $200 million within the next two years, according to Prime Minister Shehbaz Sharif. The deal was signed in Bishkek, Kyrgyzstan, during Prime Minister Sharif's three-day visit.

Initially, the two countries had agreed upon a memorandum of understanding (MoU) to expand their trade, but Prime Minister Sharif advocated for an official agreement to demonstrate concrete commitment to the target. After the MoU was signed, Prime Minister Sharif and Kyrgyz President Sadyr Zhaparov announced plans to work on a comprehensive strategy aimed at gradually increasing bilateral trade, improving trade mechanisms, promoting joint investment projects, strengthening industrial cooperation, and expanding direct business-to-business contacts.

Currently, bilateral trade between the two nations stands at around $16 million, according to Prime Minister Sharif. He emphasized that the goal of $200 million in trade is not an insurmountable challenge and that the two countries have a strong historical and political relationship. The agreement also covers various sectors such as energy cooperation, education, science and technology, health, culture, tourism, and environmental cooperation.