Karachi: Pakistan and Kyrgyzstan have set a new bilateral trade target of USD 100 million, significantly up from the current USD 16 million, as both countries move to strengthen economic cooperation and explore new avenues for investment and trade.
The announcement was made during the Pakistan-Kyrgyzstan Trade and Investment Forum held in Karachi, where Edil Baisalov, Deputy Chairperson of the Cabinet of Ministers of the Kyrgyz Republic, said his country is undergoing rapid industrialisation and is keen to attract foreign investment, especially from Pakistan. He emphasised that this transformation presents significant opportunities for joint ventures and deeper trade partnerships.
Baisalov also noted growing interest from the business communities of both countries to enhance bilateral ties. Kyrgyz Ambassador to Pakistan Kylychbek Sultan added that efforts are underway to establish new trade routes to facilitate smoother cross-border commerce.
Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), welcomed the high-level Kyrgyz delegation, which included senior parliamentarians, diplomats, and business leaders. He highlighted the recent Intergovernmental Commission meeting between the two countries, where the decision to increase bilateral trade to USD 100 million was formalised.
FPCCI Senior Vice President Saquib Fayyaz Magoon stressed the strategic geographical linkages, stating that the shortest route from China’s Kashgar to Kyrgyzstan is just 200 km, and Pakistan can be connected to this corridor through the China-Pakistan Economic Corridor (CPEC). He proposed leveraging the Torugart and Erkeshtam passes in Kyrgyzstan to enhance trade connectivity with Pakistan’s Gwadar port.
Magoon also called for the removal of non-tariff barriers, greater coordination between the national chambers of commerce, and reciprocal single-country exhibitions to promote goods and services. He underscored the need for regular trade delegation exchanges to keep momentum going.
FPCCI Vice President Abdul Mohamin Khan presented recent reforms in Pakistan’s business environment, including streamlined company registration, digital tax filing, 100% foreign ownership in many sectors, and the development of Special Economic Zones (SEZs) offering tax incentives and simplified regulations.
Aman Paracha, another FPCCI Vice President, affirmed that the apex chamber will actively follow up with its Kyrgyz counterparts to help translate the forum’s discussions into tangible results.
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