Economics & Business

Kazakhstan offers Pakistan oil, gas on cheaper rates

ISLAMABAD: Kazakhstan has offered Pakistan to import oil and gas products at cheaper rates.
The offer was extended by Ambassador of the republic of Kazakhstan Bakhytbek Shabarbayev who visited Islamabad Chamber of Commerce and Industry (ICCI). The ambassador also held meeting with the ICCI President Nasir Khan and discussed various issues including economic trade and strengthening of bilateral cooperation in various fields particularly in energy sector. They stressed to increase the current level of trade and to facilitate joint venture in the field of trade, industry and services.

Bakhytbek Shabarbayev said that Kazakhstan is the second largest among the Commonwealth of Independent States (CIS) and 9th largest country in the world. Its border extends to about 12187 km with Russia, China, Kyrgyzstan, Turkmenistan and Uzbekistan. This shows Kazakhstan’s vital strategic location and its important role in the CIS. He said Pakistan can import oil and gas products from Kazakhstan at cheaper rates. Kazakhstan has oil, coal, iron ore, manganese, chromites, lead, zinc, copper, titanium, bauxite, gold, silver, phosphates, sulfur, iron and steel, tractors and other agriculture machinery, electric motors, construction materials industries.

He stressed that both the countries should exchange trade delegation to enhance the bilateral trade. He mentioned that Kazakhstan is a rich in Natural resources and invited the Pakistani investors for investment. He said that both countries have potential to increase the bilateral trade, added that the current trade volume is not sufficient.

President Islamabad Chamber of Commerce and Industry Nasir Khan said that Pakistan has been trying to further improve economic and trade relations with Kazakhstan. He said that the economy of the country is rapidly growing and Pakistan’s energy needs are increasing at unprecedented rate of 10 percent annually.-SANA

About the author

Rubab Saleem

Rubab Saleem is Editor of Pakistan Times

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