PM says upcoming Pakistan-GCC FTA will strengthen trade, invites Bahraini investors
Prime Minister Muhammad Shehbaz Sharif has said that the Pakistan-GCC Free Trade Agreement, which will be signed very soon, will help improve trade between Pakistan and GCC member countries, particularly 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 assist in a mutually rewarding journey of progress.
He called on Bahraini leaders and businessmen to come forward, work together and make Pakistan’s economy more vibrant, particularly the industry, agriculture, IT and fintech sectors.
Prime Minister Shehbaz said that Pakistan and Bahrain are two brotherly countries and their decades-long relations are based on culture, religion, mutual respect and trust. He said the two nations also enjoy decades-long strategic cooperation and now is the time to transform these relations into more vibrant economic cooperation.
The Prime Minister said that Pakistan is ready to enhance economic cooperation with brotherly Bahrain in all areas of mutual interest, including agriculture, information technology, artificial intelligence and financial technology.
Read: Pakistan sees FTA as an engine of growth with Gulf countries
The Prime Minister also expressed his gratitude to Bahrain’s leaders, including the King, Prime Minister, Deputy Prime Minister, Crown Prince and Foreign Minister, for their unwavering commitment to Pakistan, and said his meetings with them remained extremely productive.
The prime minister also expressed his gratitude for the support provided to Bahrain’s Pakistani community, comprising more than 150,000 people, and thanked the king for forgiving the Pakistani prisoners.
They reaffirmed the importance of the long-standing defense partnership and agreed to continue strengthening cooperation in defense training, logistics, manpower and 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 towards the development of Pakistan and Bahrain.
He said that the Pakistani community living in Bahrain sent their hard-earned money and remittances worth $484 million during the last financial year, which he termed highly praiseworthy.
The Prime Minister expressed his deep gratitude to the leaders of Bahrain, particularly the King of Bahrain, Hamad bin Isa Al-Khalifa, for extending their kind and warm hospitality to him and his delegation during the two-day visit to Bahrain.
Earlier, in his welcome remarks, 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.
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 transformation and becoming a center of innovation, sustainability and technological excellence.
Highlighting Bahrain’s leading transformative role in modern and emerging technologies, the minister offered huge investment opportunities for Pakistani business and technology companies in multiple sectors including artificial intelligence, cybersecurity, metals, automotive components, electronics and other advanced technologies.
