Pak-Belarus Trade Ties Strengthens With Key Agreements, MoUs At Business Forum
Sumaira FH Published November 25, 2024 | 10:28 PM
Pakistan and Belarus on Monday signed eight memorandums of understanding (MoUs) and key trade agreements, aimed at strengthening bilateral trade and economic ties
ISLAMABAD, (UrduPoint / Pakistan Point News - 25th Nov, 2024) Pakistan and Belarus on Monday signed eight memorandums of understanding (MoUs) and key trade agreements, aimed at strengthening bilateral trade and economic ties. They were signed during the Pakistan-Belarus Business Forum.
Federal Minister for Commerce Jam Kamal Khan and Belarusian Minister for Energy Aleksei Kushnarenko, witnessed the signing of these documents between the two sides.
The signed agreements include distribution agreement, five-year cooperation agreement between JCS Bellakt and Nutrifood & Pharmaceuticals and a Supply agreement for Cooperation between JSC Minsk Motor Plant and Shahzad Trade Links for product supply in 2025.
The Memorandum of Intentions also between JSC Belshina and Shahzad Trade Links for tire sales in the Pakistani market and veterinary drug supply Contract agreement between JSC BelVitunipharm and Mustafa Brothers.
The Logistics Cooperation MoU between RUE Beltamozhservice and the National Logistic Corporation and Pharmaceutical Cooperation MoU between RUE Belmedpreparaty and Bio Medical System for pharmacy registration and supply also signed.
Meanwhile on the occasion, metal Supply contract between JSC Beltsvetmet and Raas International Trading for 2025 and agricultural machinery Cooperation MoU was also signed between JSC Tractor Works and Green Corporate Initiative.
Addressing the forum, Jam Kamal Khan underscored the need for enhancing bilateral trade between Pakistan and Belarus
through trade diversification, emphasizing the untapped potential in sectors such as food, pharma, textiles, logistics, and energy.
He highlighted that the current trade volume does not reflect the economic capabilities of the two countries.
Prior to the forum, a productive sideline meeting between Jam Kamal Khan and Aleksei Kushnarenko set the tone for the day. During the meeting, the two ministers discussed avenues for bilateral cooperation and agreed to establish working groups for energy and industrial collaboration.
They also decided to participate in two upcoming events: the FoodAg on Processing conference in Lahore in February 2025 and the Russian Industrial Forum in Belarus in June 2025.
Jam Kamal Khan extended a formal invitation to Kushnarenko to attend the FoodAg event.
Addressing the forum, Minister Aleksei Kushnarenko emphasized the strong demand for Belarusian products, such as agricultural machinery, industrial goods, and dairy products, in Pakistan.
He noted a reciprocal interest in Pakistani light industrial goods and food products in Belarus.
“The existing cooperation potential allows us to set and achieve ambitious goals for advancing economic, trade, and humanitarian ties between our countries,†Kushnarenko said.
He expressed confidence in the forum fostering new joint ventures in trade, industrial production, agriculture, healthcare, and education.
Jam Kamal Khan lauded the growing relationship between Pakistan and Belarus, citing the complementarity of their economies.
He emphasized the need to reduce tariff and non-tariff barriers to enable meaningful market access. “This forum reflects the shared commitment to advancing our trade and investment ties,†he said.
The minister also highlighted the longstanding diplomatic relationship between the two countries, including high-level visits and mutual participation in international forums such as the Shanghai Cooperation Organization (SCO).
Kamal acknowledged Belarusian tractors as a household name in Pakistan, symbolizing durability and strength.
He called for expanding this cooperation to other sectors, including agricultural machinery and the automotive industry.
Furthermore, he highlighted Pakistan’s potential as a trade and transit hub, given its large population and rich natural resources.
With the signing of these agreements and the discussions at the business forum, both sides expressed optimism about achieving new heights in bilateral trade and investment.
The ministers reiterated their commitment to sustaining the momentum by exploring additional opportunities and overcoming existing challenges.
This forum marks another step forward in the journey of strengthening Pak-Belarus ties, showcasing a mutual vision for economic growth and regional connectivity.
