Pakistan, Belarus eye local currency settlements to boost trade

August 07, 2026 (MLN): Pakistan and Belarus have agreed that financial institutions and technical experts from both countries will continue consultations on secure and mutually acceptable payment mechanisms, including local-currency settlements and other alternative arrangements, to facilitate bilateral trade transactions.

The development came as Belarusian Ambassador to Pakistan Andrei Metelitsa met with Federal Minister for Commerce Jam Kamal Khan to review bilateral economic relations and discuss preparations for the upcoming session of the Pakistan–Belarus Joint Ministerial Commission.

Federal Minister Jam Kamal Khan said an effective financial mechanism would enable businesses in both countries to fully benefit from the existing trade potential.

He identified agriculture, fertilizers, engineering goods, tractors, heavy machinery, energy products and food commodities as key areas of cooperation potential between the two countries, according to the press release.

The two sides also reviewed labour cooperation during the meeting. The Belarusian ambassador informed the minister that the number of Pakistani workers employed in Belarus had increased considerably, with demand for skilled labour continuing to grow.

Both sides agreed to promote transparent recruitment, appropriate skills matching and closer institutional coordination to further expand employment opportunities for Pakistani workers in Belarus.

The minister appreciated Belarus's engineering and industrial capabilities, particularly in the production of tractors, trucks and agricultural machinery, and welcomed the gradual revival of cooperation in these sectors.

Preparations for the forthcoming visit of the Belarusian minister and the Joint Ministerial Commission session were also discussed, with both sides agreeing to use the upcoming engagements to advance practical cooperation, address trade-related matters and identify new areas of economic partnership.

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