In a bid to boost trade and investment, between Qatar and Pakistan, a high-level business delegation from Pakistan met top officials of Qatar Chamber and discussed means of promoting trade and investment cooperation between the two nations.
The Pakistani delegation, headed by President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zubair Tufail, also included leading businessmen from food, agriculture, shipping, pharmaceuticals, textiles and chemical sectors.
Addressing the delegation, Vice Chairman of Qatar Chamber Mohammed bin Ahmed bin Tawar said that trade between the two countries has increased in the last few years and this reflects the keenness of both governments to upgrade the bilateral relations to new levels of cooperation at all levels.
“Trade exchange between the two countries reached QR2.85 billion in 2016. Pakistan is Qatar’s 21st trading partner, and Qatari businessmen aspire to double those ratios through new investment opportunities,” Tawar said.
Calling upon the private sectors of both countries to forge effective business partnerships, Tawar said the private sector can play a very effective role in bilateral trade and they should engage in high-value projects that contribute to enhancing relations between the two friendly countries.
“I call upon the private sector in the country to benefit from investment opportunities in Pakistan and to partner with Pakistani business owners, especially in the food, pharmaceutical, telecommunications and agriculture sectors,” Tawar said, adding that the chamber is ready to provide all necessary data and information in this regard.
Expressing hope that the meeting will contribute to enhancing economic cooperation between businessmen from the two countries, Tawar referred to the agreements signed between the two sides, such as the promotion and mutual protection of investments agreement in 1999 and the economic cooperation agreement in 1984, which paved the way for developing cooperation and increasing partnerships between businessmen in both countries.
FPCCI President Zubair Tufail, stressing the importance of promoting mutual cooperation between the Pakistani and Qatari businessmen, called on Qatari businessmen to visit Pakistan to identify the investment opportunities available in his country, noting that there are many sectors that Qatari businessmen can benefit from by entering into constructive partnerships with their Pakistani counterparts.
Tufail stressed the importance of investment in the energy sector, especially as Qatar supplies large quantities of liquefied natural gas (LNG) to Pakistan, which plays a major role in reducing the energy shortage in the country.
He also highlighted the importance of investment in other sectors such the iron and steel industry, construction of airports and ports, agriculture, pharmaceuticals, telecommunications, services and other sectors serving mutual investment.
Tufail said Pakistan enjoys an attractive investment environment with many opportunities. It has large markets with a population of more than 200 million and has substantial reserves of natural gas, iron ore, copper, limestone and agricultural lands.
FPCCI is the apex body of Pakistan’s 50 chambers of commerce and industry, 11 women’s chambers of commerce and industry and 117 all Pakistan associations, representing multiple industry, trade and service sectors.