Pakistan and Kazakhstan to focus on developing energy cooperation

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Islamabad:(Rana Tariq)The Ambassador of Kazakhstan to Pakistan Mr. Yerzhan Kistafin called on Minister of state for petroleum Dr. Musadik Malik here on Wednesday.

Minister warmly welcomed the ambassador and noted the importance of energy cooperation between both the countries. Dr. Musadik appreciated the brotherly relations and long-standing people to people affinity. He further remarked that Pakistan can benefit greatly from the huge energy reserves of Kazakhstan. Not only the immediate energy demands of Pakistan can be met but also Pakistan can serve as a gateway via Gwadar to the energy products of Kazakhstan and be a partner in global energy trade.

His excellency Ambassador agreed to the idea and remarked that it would be mutually beneficial. Kazakhstan and Pakistan have huge trade potential. Last year the bilateral trade amounted to $ 200 million. Kazakhstan is very close to signing the transit trade agreement with Pakistan as well. Kazakhstan has huge oil, gas and coal reserves that provide a great opportunity to enhance energy partnership.

Minister assured complete assistance on energy cooperation and stressed that Pakistan is open to new energy corridors. The rapidly increasing energy need of the country coupled with the Russia-Ukraine conflict has highlighted the importance of diversification for the Pakistan in its energy sector. In this regard, the joint working group on energy will be made effective and direct talks between Energy Ministers of both the countries will be held in near future.