Display Centres to Boost Trade with Kazakhstan: A Joint Initiative

December 18, 2024 Mahi Bukhari

In a significant move to boost bilateral trade, the government of Pakistan has announced the establishment of dedicated Display Centres aimed at increasing trade with Kazakhstan by 100% over the next three years. This ambitious plan was discussed in a high-level meeting led by Federal Minister for Board of Investment, Privatisation & Communications, Abdul Aleem Khan, along with key stakeholders from both Pakistan and Kazakhstan. The Display Centres are expected to serve as pivotal points for promoting Pakistani products across Kazakhstan and the broader Central Asian region.

Key Highlights of the Initiative

The Display Centres will focus on showcasing a diverse range of Pakistani products, including:

Textiles
Surgical Equipment
Sports Goods
Handicrafts
Leather Products
Agricultural Machinery

The initiative is part of Pakistan’s broader strategy to expand trade and foster stronger business relations with Kazakhstan, with the goal of doubling the trade volume over the next three years.

Establishing Display Centres: A Strategic Move

Government’s Commitment to Boost Trade Relations

The government’s decision to set up Display Centres is aligned with the vision to enhance Pakistan’s export potential, particularly in the Central Asian market. These centres will not only increase the visibility of Pakistani products but also simplify the trade process for foreign investors by centralizing business needs in one location.

Abdul Aleem Khan, who chaired the meeting, emphasized the importance of these Display Centres as vital trade hubs. He also reiterated that Pakistan would work to ensure that these centres are easily accessible and efficiently managed to cater to both local and international business communities.

Collaborative Efforts with Kazakhstan

The meeting saw the participation of Yerzhan Kistafin, the Ambassador of Kazakhstan to Pakistan, and Nouman Bashir Bhatti, Pakistan’s Ambassador to Kazakhstan. Both ambassadors expressed strong support for the initiative, reaffirming their commitment to facilitating the successful implementation of the project. Their cooperation aims to ensure that both countries work closely to realize the goals of this trade expansion plan.

The Display Centres will be established in both Pakistan and Kazakhstan, starting with Islamabad as the first location in Pakistan. Future plans include setting up similar centres in other regions and strategic cities to cater to demand. The efforts will also extend to other Central Asian countries, such as Almaty and Baku, to create a robust network that supports cross-border trade.

Key Objectives of the Display Centres

1. Promoting Pakistani Exports to Kazakhstan

One of the primary goals of the Display Centres is to increase Pakistan’s exports to Kazakhstan. The Pakistani government aims to achieve a 20% increase in exports to Kazakhstan within the next year. By showcasing high-quality products, the Display Centres will attract more interest from Kazakh and Central Asian businesses.

2. Centralized Locations for Easier Business Access

By setting up the Display Centres at strategic and easily accessible locations, both Pakistan and Kazakhstan aim to streamline trade processes. Instead of requiring foreign investors to visit multiple cities, the Display Centres will serve as one-stop shops for all business needs. This centralized approach is expected to save time and costs, benefiting both investors and businesses.

3. Strengthening Regional Trade Ties

The Display Centres will also focus on strengthening trade relations between Pakistan and other Central Asian countries. By adopting a common business strategy for Kazakhstan and its neighbors, the initiative will create a more cohesive approach to regional trade. This collaboration could lead to more investments and business partnerships in the long term.

Implementation and Future Outlook

Immediate Steps for Setup

Work on establishing the first Display Centre in Islamabad is expected to begin immediately. The Board of Investment (BOI), Capital Development Authority (CDA), and Ministry of Trade will work closely to ensure the centre’s timely completion. The project will be fast-tracked to meet the government’s ambitious target for expanding trade within three years.

Expansion Plans to Other Key Cities

Once the Islamabad Display Centre is operational, future expansion will target Almaty, Baku, and other strategic locations. This expansion will enable Pakistani businesses to tap into the growing markets of Central Asia, ensuring that Pakistani products receive the exposure they need to gain a foothold in these emerging economies.

Support from Both Governments

The involvement of Kazakh authorities has been crucial to this initiative’s success. Both Pakistan and Kazakhstan have pledged their full support to the project, ensuring that the business communities in both countries will receive all the necessary resources to foster economic growth.

Economic Implications for Pakistan

This initiative aligns with Pakistan’s broader goals of boosting exports and diversifying trade partnerships. With Kazakhstan serving as a gateway to the rest of Central Asia, the success of the Display Centres could open doors to a wider range of trade opportunities in the region. Additionally, by showcasing a variety of products—from textiles to machinery—Pakistan can attract a broader spectrum of business partners.

FAQs: Key Questions about Display Centres and Trade with Kazakhstan

1. What are the Display Centres, and how do they benefit trade?

The Display Centres are dedicated hubs designed to showcase Pakistani products, making it easier for businesses in Kazakhstan and Central Asia to access these products. These centres will serve as one-stop shops for trade and investment opportunities.

2. Where will the first Display Centre be established?

The first Display Centre in Pakistan will be set up in Islamabad, with plans for further expansion into other cities in Pakistan and Kazakhstan.

3. How will the initiative help boost exports to Kazakhstan?

By increasing the visibility of Pakistani products in Kazakhstan and Central Asia, the Display Centres will facilitate direct access for buyers, leading to a potential 20% increase in exports to Kazakhstan within a year.

4. Which products will be displayed at the centres?

The centres will showcase a range of Pakistani products, including textiles, surgical equipment, sports goods, handicrafts, leather products, and agricultural machinery.

5. How will the Display Centres benefit the business community?

The centres will provide a centralized location for business activities, allowing companies to access a variety of products and services more efficiently, saving time and resources.