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

Dawn reported that Pakistan and Kyrgyzstan signed an agreement on Wednesday aimed at lifting bilateral trade to $200m within two years. The document was signed in Bishkek as Prime Minister Shehbaz Sharif wrapped up a three-day visit to Kyrgyzstan. Shehbaz said he had pushed for a binding agreement rather than the earlier memorandum of understanding, which the two sides had first signed.

Shehbaz described current bilateral trade of roughly $16m as out of step with the close relations between the two countries. He said a comprehensive plan of practical steps would be drawn up to raise trade gradually, improve trade mechanisms and promote joint investment. Deputy Prime Minister Ishaq Dar put the tally of accords from the tour at 17.

The documents included a transit trade agreement, a virtual assets memorandum and an extradition treaty, the report said. The joint statement also expressed interest in linking Pakistani banks and investment funds with the Tamchy Special Financial Investment Territory in Kyrgyzstan. Both sides also agreed to support the Kyrgyz-Pakistan Joint Business Council, which aims to build direct links between business communities.