Pakistan, Belgium sign MoU for Cooperation in trade, investment

KARACHI: A memorandum of understanding (MoU) for cooperation in business and investment has been signed by Trade Development Authority of Pakistan (TDAP) jointly with trade and investment bodies of three regions of Belgium.

These bodies are Flanders Investment and Trade; Wallonia Export Investment Agency and Brussels Agency for Business Support, said a TDAP press release here on Monday.

This is for the first time that all the three regions of Belgium have jointly signed a MoU with any other country. Pakistan's Ambassador to Belgium, the European Union and Luxembourg Naghmana Alamgir Hashmi signed the MoU on behalf on TDAP, whereas Dirk Van Streeteghem, Ms. Chantal De Bleu and Laurent Lamberts signed the documents for the three agencies, respectively.

Speaking on the occasion Pakistan Ambassador said that trade between Pakistan and Belgium was constantly rising. Last year there has been an increase of 49% in the bilateral trade.

She said that Pakistan's economy had taken an upward trajectory and the country was fast emerging as a suitable destination for trade and investment.

The MoU was long-awaited and it would provide very good foundation and frame work for enhancing economic and trade ties between the two countries.

The present government's policy was to create conducive environment for business in Pakistan and a liberal visa regime would soon be introduced to facilitate business visits to Pakistan.

Director for Trade, Flanders Investment and Trade Dirk Van Streeteghem, said that there had been a significant rise in the trade relations between the countries, which was evident from ever increasing exchange of trade missions.

Director General Wallonia Export Investment Agency, Ms. Chantal De Bleu, who visited Pakistan in November 2018, said the trade mission last year was a big success and added that the MoU could help in taking up diversified actions for the mutual benefit of two countries like cross market networking.

Head of Exports Unit Brussels Agency for Business Support Laurent Lamberts, said that Pakistan's is a growing economy and his agency would be interested to help Pakistani businesses for trade investment in the Brussels region.

Pakistan Embassy's Minister Economic Omar Hameed, Commercial Secretary Salman Ahmed Choudri, Pakistan's Honorary Consul General for Trade in Ghent Ms. Karin Zoeter and Honorary Consul General in Antwerp Luc Maurrens attended the signing ceremony besides representatives of various businesses and trade and investment agencies.