PM says upcoming Pakistan-GCC FTA will boost trade, invites Bahraini investors
Prime Minister Muhammad Shehbaz Sharif has said that the Pakistan-GCC Free Trade Agreement to be signed very soon will help increase trade between Pakistan and the GCC member countries, especially with Bahrain.
Addressing the business community in Manama on Thursday (today), the prime minister said his government is ready to support joint ventures, facilitate investment plans and help in a mutually rewarding journey of progress.
He asked Bahraini leadership and businessmen to come forward, work together and make Pakistan’s economy, especially the industrial, agricultural, IT and fintech sectors more vibrant.
Prime Minister Shehbaz said that Pakistan and Bahrain are two brotherly countries and their decades-old relationship is based on culture, religion, mutual respect and trust. He said the two nations also benefit from decades-old strategic cooperation and now is the time to transform those ties into more vibrant economic cooperation.
The prime minister said Pakistan is ready to strengthen economic cooperation with brotherly Bahrain in all areas of mutual interest, including agriculture, IT, artificial intelligence and fintech.
Read: Pakistan sees free trade as an engine for growth with the Gulf countries
The prime minister also extended his gratitude to Bahrain’s leadership, including the king, prime minister, deputy prime minister, crown prince and foreign minister, for their unwavering commitment to Pakistan, saying his meetings with them remained extremely productive.
The Prime Minister also expressed appreciation for the support of the more than 150,000-strong Pakistani community in Bahrain and thanked the King for pardoning Pakistani prisoners.
They reaffirmed the importance of the long-standing defense partnership and agreed to continue to strengthen cooperation in training, logistics, manpower and defense production.
The Prime Minister also praised and saluted the most vibrant Pakistani community living in Bahrain for their hard work and unwavering determination and dedication to the development of Pakistan and Bahrain.
He said the Pakistani community living in Bahrain sent their hard-earned money and remittances worth $484 million during the last financial year, which he described as highly commendable.
The Prime Minister expressed his deep gratitude to Bahrain’s leadership, especially Bahrain’s King Hamad bin Isa Al-Khalifa, for extending gracious and warm hospitality to him and his delegation during the two-day visit to Bahrain.
Earlier, Bahrain’s Minister of Finance and National Economy, Shaikh Salman Bin Khalifa Al Khalifa, thanked Prime Minister Shehbaz Sharif and his delegation for visiting the State of Bahrain in his welcoming remarks.
The minister appreciated the role of the Pakistani diaspora and financial institutions in the development and progress of Bahrain. He said the entire region is witnessing a generational shift and becoming a center of innovation, sustainability and technological excellence.
The minister highlighted Bahrain’s leading transformational role in modern and emerging technologies and offered huge investment opportunities for Pakistani business and technology companies in several sectors, including artificial intelligence, cyber security, metals, automotive components, electronics and other advanced technologies.
