Pak-Bahrain economic partnership to grow under CPEC: Khurram Dastgir

ISLAMABAD: Minister for Commerce Engineer Khurram Dastgir Khan Thursday said Pakistan and Bahrain would grow economic partnership under China Pakistan Economic Corridor (CPEC) through mega projects of regional connectivity.

The government had laid the foundation of economic engagements with Pakistan and Bahrain, which would be converted in 21st century economic partnership for increasing the trade and investment opportunities, Khurram Dastgir Khan addressing the Second Pakistan-Bahrain Business Opportunities Conference along with Minister for Commerce and Industry of Bahrain Zayed Rashid Alzayani and business leaders from both countries here said.

He said, "We get excellent support and cooperation from Bahrain government. Bahrain is now going through economic reforms envisioned by current leadership."

He said Bahrain had important geographical location, situated as gateway for six Gulf Cooperation Council (GCC) countries also provide excess to all countries.

This conference was milestone for revival of trade and investment ties between Pakistan and Bahrain as well enhancing confidence level between the business community of both countries.

The minister vowed for government to support and facilitate the private sector from Pakistan and Bahrain to build long term investment and trade ties.

He appreciated the business growth of Al Baraka Bank in Pakistan that had grwon from four branches to 240.

The minister lauded the people of Pakistan for showing resilience against terrorism, adding that now country was coming out of the dark days of terrorism.

He said because of the vision of Prime Minister Muhammad Nawaz Sharif, the maintained peace in Balochistan, Karachi and other areas of conflict to provide better environment for development and prosperity of the country.

He said by mid of year 2018, Pakistan would come out of the energy crisis.

Dastgir said many foreign companies, including the Netherlands investment group would invest dairy sector in Pakistan.

Pakistan and Bahrain were committed for trade liberalization and promotion of bilateral trade and business relations, he said.

He said within six months Pakistan-Bahrain Second Business Opportunities Conference was milestone to promote the mutual business activities between both of the countries.

The minister said according to the vision of Prime Minister Nawaz Sharif, both of the brotherly countries were entering in new era of economic partnership.

On the occasion, Minister for Commerce and Industry of Bahrain Zayed Rashid Alzayani said Bahrain was committed to enhance the trade and business relations with Pakistan.

"We have clear instruction from leadership of both sides for enhancing cooperation and investment opportunities in both countries, he said.

He said Bahrain government had followed the policy of trade liberalization to open the country' economy for foreign trade and investment.

The minister said, "We are negotiating on Free Trade Agreement with United States (US) and other regional countries for trade openness and create business opportunities."

This was right time for the promotion of trade and economic relation between Pak- Bahrain, he added.

He said Bahrain was gateway for all GCC countries to give access too all six countries including Kingdom of Saudi Arab.    Rashid said private sector would play an important role for enhancing the trade volume between both of the countries.

He appreciated the commerce minister for hospitality and warm welcome and invited Pakistan for concluding FTA with GCC to boost trade.

At the end of conference Islamabad Chamber of Commerce and Industry (ICCI) and Bahrain Chamber of Commerce Industry signed a memorandum of Understanding (MoU) to enhance mutual cooperation.

In his welcome address Pakistan Ambassador to Bahrain, Javed Malik said Pakistan had clear focus to trade and economic cooperation with Bahrain, adding the process of mutual trade negotiation between both of the countries were fully supported by the leadership of both side.

He said Pakistan had open policy of trade and investment and easy visa process for business community of Bahrain.

President Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Zubair Tufail said CPEC would provide huge business opportunity for investors from all over the world.

Copyright APP (Associated Press of Pakistan), 2017