Kazakhstan and Pakistan have taken a significant step in strengthening bilateral cooperation after signing 32 commercial agreements during a business forum held in Islamabad on February 4, coinciding with the state visit of Kazakh President Kassym-Jomart Tokayev. The agreements span a wide range of priority sectors including finance, logistics, industry, energy, the agro-industrial complex, digital services, infrastructure, education, healthcare, and space cooperation, reflecting a broad-based expansion of economic and technological ties between the two countries.
One of the most prominent industrial deals concluded at the forum was a $108 million agreement between Kazakhstan’s Falcon EuroBus LLP and Pakistan’s QCC International for the supply of domestically manufactured electric buses. The contract is viewed as strategically important for Kazakhstan’s mechanical engineering sector, supporting export diversification, promoting the Made in Kazakhstan brand in foreign markets, and advancing the localization of high-tech manufacturing, according to Kazakhstan’s Ministry of Trade and Integration.
Financial and investment cooperation featured strongly across the signed agreements. Samruk Kazyna Sovereign Wealth Fund and Pakistan’s Fauji Group of Companies agreed to establish a joint investment platform to identify and implement projects in both countries. Baiterek Research Holding expanded its international footprint through partnerships with Habib Bank Limited for project and trade finance, and with TCS Private Limited in transport and logistics. In parallel, Freedom Holding Corp. and Freedom Bank Kazakhstan entered into multiple agreements with Pakistani partners, including a $20 million arrangement with Meezan Bank Limited to develop correspondent banking relations and support international settlements, alongside initiatives to expand cross-border digital and financial services.
Transport and logistics cooperation emerged as a central theme of the visit. Kazakhstan Temir Zholy and Pakistan’s National Logistics Corporation agreed to collaborate on multimodal transportation and transit development. Kazpost signed memorandums with Pakistan Post and TCS Private Limited to modernize postal and logistics infrastructure while introducing digital solutions. Maritime connectivity was also addressed through agreements between the Aktau International Sea Trade Port and the Port of Karachi, aimed at enhancing port cooperation and logistics integration.
In the industrial and manufacturing space, KazFoodProducts and Pakistan’s Almoiz Group agreed to establish a $20 million joint venture for sugar production in Kazakhstan’s Zhetysu Region. Separately, Kusto Group and QazTrade signed a memorandum valued at $20 million to develop construction materials production. Additional agreements covered chemical and processing industries, including plans by NorSon Chemical Industries and the Baikonur Agricultural Production Cooperative to launch chemical production facilities in the Kyzylorda Region.
Digital services and technology cooperation were reinforced through memorandums between Astana Hub and IGNITE Pakistan on startup ecosystem development, and between QazCode and Jazz Pakistan in telecommunications. These agreements extend to artificial intelligence, digital solutions, and payment system integration, signaling growing alignment in digital transformation agendas.
Education, healthcare, and space cooperation also featured in the expanding partnership. Astana Medical University signed a memorandum with Maroof International Hospital, while iTech KZ and Gift University agreed to enhance academic and technological collaboration. In the space sector, Kazakhstan Gharysh Sapary and Pakistan’s SUPARCO agreed on scientific and technical cooperation and satellite data exchange.
Beyond the commercial forum, President Tokayev and Prime Minister Shehbaz Sharif signed a Joint Declaration establishing a Strategic Partnership. In total, 37 agreements were concluded during the visit, marking one of the most significant milestones in bilateral relations in recent decades. The visit was historic, as the last Kazakh presidential visit to Pakistan took place in 2003.
Connectivity emerged as a defining pillar of the partnership, particularly the proposed Kazakhstan–Turkmenistan–Afghanistan–Pakistan railway. The project aims to link Kazakhstan to the ports of Karachi and Gwadar and integrate Pakistan into major regional transport corridors. Kazakh officials have indicated readiness to fully finance the estimated $7 billion project, reflecting Astana’s ambition to secure reliable southbound trade routes amid shifting geopolitical and logistical realities.
Complementing these developments, Kazakhstan’s Elaman Group has expressed its intention to invest $20 million in placer gold mining projects in Gilgit-Baltistan. Discussions were held with Pakistan’s Board of Investment, during which the company outlined plans to introduce modern mining technologies in collaboration with Chinese partners, prioritize environmental responsibility, and commit to local employment and community development. Pakistani authorities assured full facilitation and regulatory support, reinforcing the government’s focus on attracting responsible foreign investment.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.