Belarusian enterprises finalized agreements worth $17 million at the Belarus-Pakistan business forum in Islamabad, Mikhail Myatlikov, Chairman of the Belarusian Chamber of Commerce and Industry, said November 25.
“Eight documents worth cumulatively more than $17 million are ready for signing. The negotiations will continue for two days, so additional agreements and protocols of intent are expected,” Myatlikov said.
Belarus President arrives in Islamabad
The signings coincided with Belarusian President Alexander Lukashenko’s official visit to Pakistan and saw a delegation of over 40 Belarusian enterprises engaging in discussions.
Belarus President Lukashenko arrived in Pakistan on Monday (November 25) on a three-day visit to strengthen bilateral ties and trade.
During his stay, Lukashenko will hold comprehensive talks with Prime Minister Shehbaz Sharif, focusing on bilateral cooperation. Several agreements and Memorandums of Understanding (MoUs) are expected to be signed.
Pakistan-Belarus Business Forum 2024
The forum highlighted traditional areas of collaboration, including mechanical engineering and agriculture, while identifying new sectors for cooperation such as pharmaceuticals, veterinary drugs, and light industry.
Myatlikov revealed plans for a Pakistani business delegation to visit Belarus in January to participate in the “My Belarus” exhibition and Belagro. Belarusian companies are also considering attending various exhibitions in Pakistan to further diversify trade relations.
Trade between the two countries has seen substantial growth lately. Belarusian exports to Pakistan surged by 150% in 2023 compared to the previous year, with a 30% increase recorded in the first half of 2024.
“In six months, exports exceeded $17 million,” Myatlikov stated.
Despite bilateral trade nearing $50 million in 2023, President Lukashenko stressed the need to enhance these figures, emphasizing, “The trade that high-tech Belarus has with a country of more than 200 million people like Pakistan is very small. We need to deepen and diversify our trade.
Belarusian delegation in Pakistan
A high-level 68-member Belarusian delegation, led by Foreign Minister Maxim Ryzhenkov, arrived in Islamabad, on November 24, ahead of President Lukashenko’s three-day visit from November 25 to 27.
The delegation included ministers overseeing energy, justice, transport, and natural resources, as well as the chairman of the Military Industry Committee and 43 business leaders.
The visit followed a September agreement between Pakistan and Belarus to establish a trade roadmap for 2025-2027.
Interior Minister Mohsin Naqvi, welcoming the delegation, termed the visit as pivotal for strengthening ties and enhancing cooperation across various sectors, including trade and industry.