Belarus and Pakistan Discuss Enhancing Bilateral Trade and Investment Ties

On May 1, 2024, Belarus Ambassador Andrei Metelitsa met with Pakistan's Federal Minister for Economic Affairs Ahad Khan Cheema in Islamabad to discuss strengthening bilateral trade and investment ties between the two countries. The two officials agreed that the current trade levels are far below the true potential and need to be improved through government-to-government and business-to-business interactions, trade exhibitions, and harmonization of banking procedures.

Ambassador Metelitsa showed strong interest in bolstering bilateral ties and emphasized the need to enhance trade through various means. "The current trade between the two countries is far below its true potential," Metelitsa noted. He stressed the importance of increased government and business interactions, as well as streamlining banking procedures and organizing trade fairs to further boost trade and investment.

Minister Cheema highlighted the potential for joint ventures between Pakistani and Belarusian firms in areas like agricultural machinery, tractors, and harvesters. He also noted Pakistan's ability to export textile, agricultural products, and surgical equipment to Belarus, while benefiting from Belarusian expertise in heavy machinery and plants. "Pakistan has great potential for utilizing agricultural machinery and exporting various products to Belarus," Cheema stated.

Why this matters: The meeting between the Belarus Ambassador and Pakistan's Federal Minister for Economic Affairs signifies the commitment of both countries to strengthen their economic ties and explore new avenues for trade and investment. Enhancing bilateral cooperation could lead to increased economic growth and job creation in both nations.

The two sides discussed the commitments made during the 6th Session of the Pakistan-Belarus Joint Ministerial Commission held in Minsk, Belarus in January 2023, which they said will open the way for further cooperation in trade, investment, agriculture, health, science, technology, and tourism. Ambassador Metelitsa acknowledged the need to boost bilateral ties and utilize the platform of the Pak-Belarus Joint Ministerial Commission to achieve this goal.

Key Takeaways

• Belarus, Pakistan discuss boosting bilateral trade and investment ties.
• Potential for joint ventures in agricultural machinery, textiles, and more.
• Commitment to enhance government-to-government and business-to-business interactions.
• Streamlining banking procedures and organizing trade fairs to boost trade.
• Leveraging the Pak-Belarus Joint Ministerial Commission to achieve economic goals.