The understanding was reached during talks between Prime Minister Shehbaz Sharif and Kazakh President Kassym-Jomart Tokayev, who is on a two-day state visit to Pakistan.

Speaking at a joint press interaction, PM Shehbaz said both sides had agreed to promote the Belarus-Russia-Kazakhstan-Uzbekistan-Afghanistan-Pakistan transport corridor to enhance regional trade and connectivity.

He said Pakistan and Kazakhstan would encourage their business communities to invest in joint ventures, noting that despite strong political ties, bilateral trade stood at around $250 million last year.

“This does not reflect the true potential of our relationship,” he said, adding that coordinated efforts could unlock major economic opportunities.

The two leaders witnessed the exchange of 37 memorandums of understanding and agreements covering finance, trade, industry, transport, energy, health, culture, security, education, media, science, technology, climate change, and agriculture.

The prime minister stressed the need for the timely implementation of the agreements and urged that MoUs be converted into practical, result-oriented projects.

President Tokayev described Pakistan as a reliable partner in South Asia and said elevating ties to a strategic partnership had opened new avenues for cooperation.

He said bilateral trade had doubled in the past year and could reach $1 billion with sustained efforts.

The Kazakh leader highlighted transport and logistics as priority areas and noted Pakistan’s growing role as a regional transit hub through the ports of Karachi and Gwadar.

Both sides also agreed to explore the resumption of direct air links to boost tourism, business and people-to-people exchanges.

President Tokayev invited Pakistani companies to establish manufacturing units in Kazakhstan, particularly in agriculture, pharmaceuticals and construction materials, and assured them of favourable investment conditions.

The leaders also agreed to form a joint working committee comprising senior ministers and officials to draft a five-year roadmap for expanding economic cooperation.

They reviewed cooperation in political, economic, defence and cultural sectors and reaffirmed their commitment to deepening bilateral ties.

President Tokayev thanked PM Shehbaz for Pakistan’s hospitality and invited him to visit Kazakhstan later this year.

The prime minister accepted the invitation and reiterated Pakistan’s commitment to regional peace, connectivity and development.