Bahrain proposes formation of joint trade council

Industries and Production Minister Liaquat Ali Jatoi inaugurated the first-ever Pakistan Single Country Exhibition in Bahrain.
Members of Royal family, ministers, dignitaries, businessmen, diplomats and overwhelming majority of Pakistani expatriates were present on the occasion.
The minister, who was accompanied by Bahrain's Minister of Electricity, Shaikh Abdullah bin Salman Al-Khalifa, Commander National Guard, Shaikh Mohammad bin Isa Al-Khalifa, Minister of State Abdulnabi Al Shoala, Pakistani Ambassador, diplomats of friendly countries and other dignitaries and businessmen, visited the pavilions.
The visitors immensely admired the Pakistani products. Interesting parties also made some good contacts, a report received from Bahrain on Wednesday said.
The Bahrain Chamber of Commerce and Industry (BCCI) had arranged a special gathering on the occasion. Ibrahim Mohammad Zanil of the BCCI presided over the meeting and briefed the industries minister about the history, viability and effective policies of the chamber.
The Bahrain side recommended that Pakistan should formulate 10-member committee from the Karachi Chamber of Commerce and Industry (KCCI) and Bahrain would constitute equal number of members in their chamber to form private trade council.
Jatoi recalled his successful visit to Bahrain last year and expressed his satisfaction on the discussed agenda duly implemented in the shape of Single Country Exhibition.
Agreeing with the Bahrain side Jatoi said that the private sector must be involved in bilateral trade. He said that great potential exists in joint ventures, cement plants, defence equipment and training.
As Pakistan was adopting deregulating policies, the private sector was coming in shape, while the growth rate was increasing.
The minister also briefed about foresighted reform policies adopted by General Pervez Musharraf.
Zanil said that in January 2005 Islamic Chamber of Commerce would hold an exhibition of products from the Muslim countries most probably in Karachi.
He advised that like India Pakistan must hold a conference of the GCC commerce ministers enabling them to benefit from each others capabilities and explore avenues of co-operation.
Jatoi said that time for negotiations, conferences and seminars was short. It was time of action and he wanted to see the words to be implemented.
On the occasion, the Export Promotion Bureau (EPB) chairman said that political relations between both the brotherly countries must be matched by economic relations.
He said that concentration must be made to materialise target projects instead of discussing several hypotheses. Both the sides agreed that a trade council should be formed as soon as possible.