Pakistan, Belarus Strengthen Ties as Shehbaz Visits Minsk
The visit is part of Pakistan's efforts to expand its trade partnerships and strengthen economic cooperation with regional allies, with a focus on boosting bilateral trade and investment ties with Belarus, and exploring new opportunities for cooperation in areas such as energy, industry, and communications.
Pakistani Prime Minister Shehbaz Sharif has arrived in Belarus for a two-day visit to discuss trade and investment ties with President Aleksandr Lukashenko, focusing on agreements made during Lukashenko's November 2022 visit to Pakistan.
The two leaders will review the progress of agreements on trade, economic cooperation, food security, and humanitarian ties, and address key global and regional issues. Several bilateral documents are expected to be signed after the talks, building on the 15 Memorandums of Understanding (MoUs) and agreements signed during Lukashenko's visit to Pakistan last year.
Pakistan has already signed agreements with Belarus on energy, industrial collaboration, and communications to boost bilateral trade and investment ties. The agreements cover joint projects in energy infrastructure, industrial collaboration, and postal services, and aim to set up trade corridors with Belarus to facilitate access to Central Asian countries.
The visit comes as Pakistan seeks to diversify its trade partnerships and strengthen economic cooperation with regional allies. The country has also received a boost with the World Bank's private investment arm committing $300 million in debt financing for Pakistan's Reko Diq copper and gold mining project, expected to boost Pakistan's exports and contribute to economic growth and job creation.
As Pakistan and Belarus strengthen their ties, the country is also navigating trade tensions with the US, which has imposed a 29% tariff on Pakistani goods. Pakistan is expected to respond with proposals to increase US imports and may impose reciprocal tariffs on US food products, highlighting the complex and evolving nature of global trade relations.