Pakistan, Belarus Seek Payment Mechanism to Expand Bilateral Trade
Pakistan and Belarus have agreed to explore secure payment mechanisms, including local-currency settlements, to facilitate bilateral trade and strengthen economic cooperation between the two countries.
The agreement was reached during a meeting between Federal Minister for Commerce Jam Kamal Khan and Belarusian Ambassador to Pakistan Andrei Metelitsa, as both sides reviewed measures to improve trade and investment ties.
The two countries agreed that financial institutions and technical experts should continue consultations on mutually acceptable payment arrangements. The initiative is aimed at making cross-border transactions easier for businesses and allowing them to better utilise the existing trade potential.
Jam Kamal highlighted opportunities for greater cooperation in agriculture, fertilisers, engineering goods, tractors, heavy machinery, energy products and food commodities. He also welcomed the revival of collaboration with Belarus in engineering and agricultural machinery.
The meeting also reviewed labour cooperation. The Belarusian envoy said the number of Pakistani workers employed in Belarus had increased considerably, while demand for skilled workers remained strong.
Both sides agreed to improve recruitment procedures, skills matching and institutional coordination to expand employment opportunities.
The discussions also covered preparations for the upcoming Pakistan-Belarus Joint Ministerial Commission, which is expected to focus on resolving trade-related issues and identifying new areas of economic partnership.