ISLAMABAD: President Asif Ali Zardari met with Russian President Vladimir Putin on Friday on the sidelines of an international forum in Ashgabat, Turkmenistan, where they pledged to further strengthen bilateral ties, state media reported.
The event, organized by Turkmenistan, commemorates the 300th birth anniversary of Magtymguly Faragi, an 18th-century Turkmen thinker, poet and philosopher. The international gathering is significant since it brings together key figures from various regional nations to discuss peace, development and cultural cooperation.
Zardari, accompanied by Deputy Prime Minister Ishaq Dar, also interacted with Russian President Vladimir Putin during the forum.
“The informal interaction was held on the sidelines of a two-day international forum ... here in the Turkmen capital,” the Associated Press of Pakistan (APP) reported, adding, “they emphasized further strengthening of bilateral relationships.”
“Both leaders expressed good wishes for each other,” it continued.
Earlier, the Pakistani president addressed the forum, underscoring the importance of regional cooperation, particularly in cultural and economic development.
He also highlighted the longstanding bond between Pakistan and Turkmenistan, saying it was built on shared history and values while expressing hope that the discussions would lead to strengthened cultural collaboration in the region.
Pakistan and Russia have also been trying to strengthen bilateral cooperation in recent year, particularly in trade and energy.
Last July, Prime Minister Shehbaz Sharif met Putin at the Shanghai Cooperation Organization (SCO) Summit in Astana, Kazakhstan, where both leaders agreed to collaborate in agriculture, food security and investment.
Russia’s Putin cements ties with Pakistani president in Central Asia meeting
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Russia’s Putin cements ties with Pakistani president in Central Asia meeting
- Asif Zardari and Vladimir Putin are in Ashgabat, attending an international forum on peace, cultural cooperation
- Pakistan and Russia have tried to strength their bilateral relations in recent year, particularly in trade and energy
Pakistan, global crypto exchange discuss modernizing digital payments, creating job prospects
- Pakistani officials, Binance team discuss coordination between Islamabad, local banks and global exchanges
- Pakistan has attempted to tap into growing crypto market to curb illicit transactions, improve oversight
ISLAMABAD: Pakistan’s finance officials and the team of a global cryptocurrency exchange on Friday held discussions aimed at modernizing the country’s digital payments system and building local talent pipelines to meet rising demand for blockchain and Web3 skills, the finance ministry said.
The development took place during a high-level meeting between Finance Minister Muhammad Aurangzeb, Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib, domestic bank presidents and a Binance team led by Global CEO Richard Teng. The meeting was held to advance work on Pakistan’s National Digital Asset Framework, a regulatory setup to govern Pakistan’s digital assets.
Pakistan has been moving to regulate its fast-growing crypto and digital assets market by bringing virtual asset service providers (VASPs) under a formal licensing regime. Officials say the push is aimed at curbing illicit transactions, improving oversight, and encouraging innovation in blockchain-based financial services.
“Participants reviewed opportunities to modernize Pakistan’s digital payments landscape, noting that blockchain-based systems could significantly reduce costs from the country’s $38 billion annual remittance flows,” the finance ministry said in a statement.
“Discussions also emphasized building local talent pipelines to meet rising global demand for blockchain and Web3 skills, creating high-value employment prospects for Pakistani youth.”
Blockchain is a type of digital database that is shared, transparent and tamper-resistant. Instead of being stored on one computer, the data is kept on a distributed network of computers, making it very hard to alter or hack.
Web3 refers to the next generation of the Internet built using blockchain, focusing on giving users more control over their data, identity and digital assets rather than big tech companies controlling it.
Participants of the meeting also discussed sovereign debt tokenization, which is the process of converting a country’s debt such as government bonds, into digital tokens on a blockchain, the ministry said.
Aurangzeb called for close coordination between the government, domestic banks and global exchanges to modernize Pakistan’s payment landscape.
Participants of the meeting also discussed considering a “time-bound amnesty” to encourage users to move assets onto regulated platforms, stressing the need for stronger verifications and a risk-mitigation system.
Pakistan has attempted in recent months to tap into the country’s growing crypto market, crack down on money laundering and terror financing, and promote responsible innovation — a move analysts say could bring an estimated $25 billion in virtual assets into the tax net.
In September, Islamabad invited international crypto exchanges and other VASPs to apply for licenses to operate in the country, a step aimed at formalizing and regulating its fast-growing digital market.
