@@INCLUDE-HTTPS-REDIRECT-METATAG@@ Nawaz stresses boost in Pakistan, Kazakhstan trade

Nawaz stresses boost in Pakistan, Kazakhstan trade

In a meeting with President of Kazakhstan, Nursultan Nazarbayev in Astana, Prime Minister of Pakistan Nawaz Sharif underscored the need for enhancing trade between Pakistan and Kazakhstan, which was much less than the potential.

Nazarbayev, who has led Kazakhstan since 1989, visited Pakistan in 1992. That trip resulted in the two countries establishing formal diplomatic and consular ties. Relations between the two countries began when Pakistan recognized Kazakhstan on December 20, 1991. On February 24, 1992, diplomatic and consular relations were established during an official visit by Kazakhstani president Nursultan Nazarbayev to Pakistan. Kazakhstan is an emerging market for Pakistani goods.

 

In 2015, President Nursultan Nazarbayev himself stated that “[I] will never forget that Pakistan is one of the first countries to support our independence”.

 

The two countries have a preferential trade agreement between them, but trade and investment volumes remain low. In 2009, Pakistani and Kazakh officials convened a working group, with Kyrgyz representatives, to discuss trade and investment cooperation.  Pakistan’s access to western China and Central Asia was greatly expanded by the reconstruction and renovation of the strategically critical Karakoram Highway in the 2000s. Since then, however, there has been little follow-up—both sides expect this leaders summit to lead to greater cooperation.

 

Why Pakistan is important for Kazakhstan?

 

For Kazakhstan, increased connectivity with Pakistan, including via CPEC, would help its goods find their way to warm water ports in Gwadar and Karachi—for a landlocked state like Kazakhstan, whose economic fortunes are tied closely to Russia, this sort of access could be incredibly valuable.

 

Vital statistics of Kazakhstan

 

Kazakhstan is the world's largest landlocked country and the ninth largest in the world, with an area of 2,724,900 square kilometres (1,052,100 sq mi). Kazakhstan is the dominant nation of Central Asia economically, generating 60% of the region's GDP, primarily through its oil/gas industry. It also has vast mineral resources. Kazakhstan has an estimated 18 million people as of 2014.

 

Kazakhstan has the largest and strongest performing economy in Central Asia. Supported by rising oil output and prices, Kazakhstan’s economy grew at an average of 8% per year until 2013, before suffering a slowdown in 2014 and 2015 Kazakhstan was the first former Soviet Republic to repay all of its debt to the International Monetary Fund, 7 years ahead of schedule.

 

Official estimates put the population of Kazakhstan at 16.455 million as of February 2011, of which 46% is rural and 54% is urban. Ethnic Kazakhs are 63.1% of the population and ethnic Russians in Kazakhstan are 23.7%. Other groups include Tatars (1.3%), Ukrainians (2.1%), Uzbeks (2.8%), Belarusians, Uyghurs (1.4%), Azerbaijanis, Poles, and Lithuanians. According to the 2009 Census, 70% of the population is Muslim, 26% Christian, 0.1% Buddhists, 0.2% others (mostly Jews), and 3% Irreligious, while 0.5% chose not to answer. According to its Constitution, Kazakhstan is a secular state.