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The Fifth Session of Pakistan-Belarus Joint Economic Commission was held in Grodno region of the Republic of Belarus from 16-17 November 2017. Pakistan delegation was headed by Mr. Pervaiz Malik, Federal Minister for Commerce and Textiles, while Belarusian side was led by Mr. Vitaly Vovk, Minister of Industry of Belarus, representatives from the ministries/departments of industries, commerce, agriculture and foreign affairs of the two countries participated in the session. Importantly, Second session of Pakistan Belarus Joint Working Group on Industrial Cooperation was also held simultaneously with the Fifth session of Joint Economic Commission.

Both sides reviewed progress taken place against the goals set during the last session of Pakistan-Belarus JEC in March 2017. For furthering of trade and commercial cooperation and to achieve the ambitious target of taking bilateral trade to USD: 1 billion till 2020, it was agreed by both sides to promote investment cooperation, create joint venture and technology transfer, facilitate business to business contacts and banking cooperation.

Mr. Pervaiz Malik and Mr. Vitaly Vovk agreed that the true trade potential of both sides is yet to be harnessed as the current trade figures do not reflect the true potential of both sides. At the end of the session an Agreement on Industrial, Scientific and Technological Cooperation between Islamic Republic of Pakistan and the Republic of Belarus was signed. Both sides also inked the Protocol of the Fifth Session of Pakistan-Belarus Joint Economic Commission and Protocol of Pakistan-Belarus Second Joint Working Group on Industrial Cooperation.

17 November 2017

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