Business news

ISLAMABAD, 10 November (BelTA) – Belarus and Pakistan signed a roadmap of cooperation for 2015-2020. The document was signed by Prime Ministers of the two countries Andrei Kobyakov and Nawaz Sharif, BelTA informs.

“This is the document that meets the interests of Belarus and Pakistan in the political and economic areas. It will allow the two countries to bring the mutual trade turnover onto a qualitatively new level,” Andrei Kobyakov noted after the signing ceremony. In his words, Belarus will provide support to Pakistan in initiating talks on the free trade agreement with the Eurasian Economic Union.

Andrei Kobyakov also stressed that the structure of the bilateral trade would be optimized. “The plans envisage the increase in mutual trade turnover on the principles of mutual benefit and balanced trade for all-round and sustainable economic development of the parties,” said the Belarusian head of government.

In his words, the roadmap also envisages the setting up of joint companies and plants to assemble Belarusian tractors and trucks in Pakistan. The parties will also consider possible supplies of agricultural, road and construction equipment.

“Joint projects will be implemented in agriculture and food. Cooperation will be stepped up in the textile industry,” said Andrei Kobyakov. According to the Prime Minister, the matter is about the establishment of joint ventures in Belarus and Pakistan and sale of the products they will make in Belarus and Pakistan and also the markets of the Eurasian Economic Union member states.

Pakistan's gross domestic product in 2014-2015 fiscal year (starts on 1 July this year and ends on 30 June the following calendar year) rose by 4.24%, BelTA learned from the Belarusian Chamber of Commerce and Industry. Export amounted to $23.15 billion ($5.07 billion in 2013-2014 fiscal year), import reached $44.67 billion ($41.63 billion).

The official visit of the Belarusian head of government in Pakistan will last from 9 to 11 November. It is expected that Andrei Kobyakov will meet with the President and Prime Minister of Pakistan on 10 November. The Belarusian-Pakistani business forum is scheduled for 11 November. The Belarusian Prime Minister is scheduled to attend a ceremony to inaugurate the Belarusian culture center at the National Library of Pakistan.

After the official visit to the Islamic Republic of Pakistan, Andrei Kobyakov will go to the Republic of Turkey on a working visit on 11-12 November. The Belarusian Premier is expected to meet with the Turkish authorities and top managers of Turkish companies.