ISLAMABAD: Pakistan and Belarus signed eight Memorandums of Understanding (MoUs) and agreements on Monday, opening new avenues for collaboration in various sectors and boosting bilateral trade potential.
The signing ceremony took place during the Pakistan-Belarus Business Forum, co-chaired by Commerce Minister Jam Kamal and Belarusian Energy Minister Aleksei Kushnarenko. These agreements precede the arrival of Belarus’s President in Islamabad.
The MoUs include a five-year partnership between JCS Bellakt and Nutrifood & Pharmaceuticals and a product supply agreement between JSC Minsk Motor Plant and Shahzad Trade Links, effective in 2025. Agreements also cover tyre sales (JSC Belshina and Shahzad Trade Links), pharmacy registration (RUE Belmedpreparaty and Bio-Medical System), and logistics collaboration (RUE Beltamozhservice and National Logistic Corporation). Additionally, deals were signed for metal supply (JSC Beltsvetmet and Raas International Trading) and agricultural machinery (JSC Tractor Works and Green Corporate Initiative).
While Pakistan’s exports to Belarus declined by 10.23% in FY24, falling to $1.798 million, imports from Belarus surged 393% to $27.637 million.
Commerce Minister Jam Kamal highlighted the importance of trade diversification and emphasized untapped opportunities in food, pharma, textiles, logistics, and energy sectors. He reiterated Pakistan’s openness to foreign investment in key areas, including energy, ICT, and manufacturing.
Belarusian Minister Aleksei Kushnarenko praised the forum for fostering direct dialogue between businesses, noting strong demand in Pakistan for Belarusian machinery, petrochemicals, and dairy products, and in Belarus for Pakistani food and industrial goods.
The agreements mark a significant step toward strengthening economic ties and realizing the true trade potential between the two countries.
Story by Mubarak Zeb Khan
