Pakistan and Kyrgyzstan have agreed to deepen cooperation in crypto and blockchain innovation. According to reports, both countries also intend to depend on bilateral cooperation in aspects such as blockchain technology and digital financing.
The cooperation was agreed during a high -level virtual meeting between Bilal Bin Saqib, the Minister of Foreign Affairs for Crypto and Blockchain in Pakistan, and Farkhat Aminov, director of the National Investment Agency of Kirgoizia.
During the meeting, both parties had detailed discussions about digital finances, regulatory frameworks and blockchain innovation. They also discussed the importance of sharing knowledge, expertise and best practices to promote the growth of their digital economies.
Pakistan continues his pressure in the crypto industry
According to local reports, Bilal Bin Saqib praised the leadership of Kyrgyzstan in innovation of digital assets during the meeting, pronouncing the importance of Pakistan to develop a joint regulatory structure with them. He also noted that Pakistan is interested in promoting technology with Kyrgyzstan as his partners, with a memorandum of agreement (MOU) to set up a formal partnership in the crypto space.
Pakistan continued to push in the crypto industry, where the recent development in Kyrgyzstan shows how serious the country is in that respect. The country announced the formation of his Pakistan Crypto Council, a division responsible for regulating and integrating blockchain technology in the financial landscape of the country.
The formation of the council came after the appointment of Bilal bin Saqib as a special adviser to Minister of Finance Muhammed Aurangzeb. Bin Saqib was then appointed as CEO of the Council, with Aurangzeb acting as chairman of the Crypto Council.
In the meantime, both countries have repeated their dedication to build a safe, transparent and digital economy that is ready for the future, and notes that the collaboration could improve blockchain and digital financial integration in Central and South Asia.
Pakistan is expanding his impact to Central -Asia
The latter development comes after the press information -department of Pakistan has announced that both countries had signed various protocols and mice to deepen economic and technical cooperation, so that bilateral trading volume was brought to $ 100 million. The statement came after the 5th session of the Pakistan-Kyrgizyzstan Inter-Governmental Commission (IGC) on trade, economic, scientific and technical cooperation in Islamabad.
“The two parties again confirmed their determination to stimulate bilateral trade, which set an objective to increase the trade volume to USD 100 million,” said the PID statement. “They agreed to work on diversification of export and import, the Pakistan-Kyrgyz Joint Business Council to breathe new life into and to organize business fairs and B2B (Business-to-Business) exchanges.”
The development comes at a time when Pakistan tries to use his strategic geopolitical position to perform his role as an important trader and transithub in the light of economic decline. The country is planning to connect the central central -Asia in reverse with the rest of the world, to connect a flurry of visits, investment interviews and economic activities with other Central Asian countries in recent months.
“Discussions were also aimed at improving regional connectivity through logistics and transport. Both parties agreed to deepen the cooperation in postal services, freight and rail transport and civil aviation,” the PID said. “Both countries underline the importance of strengthening financial cooperation. The central banks of both countries agreed to work together on the development of Islamic banking and financial instruments, including training programs through the National Institute of Banking and Finance of Pakistan.”