Federal Minister for Industries and Production Liaquat Ali Jatoi has offered an attractive investment package to the member and non-member states of the Organisation of Economic Co-operation and Development (OECD) areas and said that Pakistan has opened all sectors for investment, without any restriction.
The minister said that a number of incentives are being offered for investment in export processing zones, Gwadar free trade zone, and proposed textile city. Foreign investors are allowed to hold 100 percent equity and tax concessions.
There is no bar on repatriation of capital and profits, he said, and added that technical and franchise-free and payment of royalty are allowed without any restrictions.
According to a fax message received from Pakistan's Embassy in Istanbul, Jatoi said this while talking with ministers of six countries, in separate bilateral meetings at Istanbul on Saturday.
He is leading the Pakistan delegation in the second OECD Ministerial Conference on SMEs. More than 2000 delegates from member and non-member states of OECD are attending the conference.
He held meetings with Luiz Fernando Furlan, Minister for Development Industry and Foreign Trade of Brazil; Noer Soetrisno, Deputy Minister, Assessment of Co-operative and SMEs, Indonesia; Motiur Rehman Nizami, Minister for Industries Bangladesh; Rezzo Schalauch, Parliamentary State Secretary, Federal Ministry of Economic and Labour, Germany; and Turkish and Serbian Ministers and discussed issues of mutual interest pertaining to industry, trade and commerce.
He also briefed them on the viable and fast moving economy of Pakistan.
In his meeting with Brazilian counterpart, Jatoi emphasised the need to further enhance the volume of trade and suggested that business counsellors of the two countries should be set up.
He said that Pakistan can export textiles, surgical instruments, sports goods, and auto parts.
The Brazilian Minister showed keen interest in the import of textile goods and suggested that Pakistan can also import iron ore and cotton from Brazil. Jatoi also invited him to visit Pakistan.
During his meeting with Bangladesh Minister, he said that Pakistan has already offered a credit of $5 million for BMRE of sugar mills and hoped that the acceptance from Bangladesh would come soon.
He also stressed the urgent need to increase the collaboration in the industrial sector and trade.
The Minister also offered Bangladesh in its textile sector as Pakistan has a lot of expertise and is also willing to set up joint ventures.
Talking to Indonesian Minister, he said that there should he more interaction between the two countries to strengthen economic and trade ties and should set up joint ventures in the field of agriculture, power sector, mining and textile.
The Turkish and Serbian Ministers also showed interest to invest in Pakistan and enhance trade linkage with Pakistan.
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