PM says upcoming Pakistan-GCC FTA will boost trade, invites Bahraini investors
Prime Minister Muhammad Shehbaz Sharif said that the Pakistan-GCC Free Trade Agreement, which will be signed very soon, will help strengthen trade between Pakistan and GCC member countries, especially with Bahrain.
Addressing the business community in Manama on Thursday (today), the Prime Minister said his government was ready to support joint ventures, facilitate investment plans and contribute to a mutually enriching journey of progress.
He asked Bahrain’s leaders and businessmen to come forward, work together and make Pakistan’s economy more vibrant, especially the industrial, agriculture, IT and financial technology sectors.
Prime Minister Shehbaz said that Pakistan and Bahrain are two brotherly countries and their decades-old relations are based on culture, religion, mutual respect and trust. He said the two countries also benefited from decades-old strategic cooperation and now was the time to transform these relations into more dynamic economic cooperation.
The Prime Minister said Pakistan was ready to strengthen economic cooperation with its brother Bahrain in all areas of mutual interest, including agriculture, IT, AI and fintech.
Read: Pakistan sees FTA as engine of growth with Gulf countries
The Prime Minister also expressed gratitude to Bahrain’s leaders, 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 gratitude for the support provided to the over 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 strengthening cooperation in training, logistics, manpower and defense production.
The Prime Minister also congratulated and saluted the most vibrant Pakistani community living in Bahrain for their hard work, determination and unwavering dedication towards the development of Pakistan and Bahrain.
He said the Pakistani community living in Bahrain sent hard-earned money and remittances worth $484 million in the last financial year, which he described as highly commendable.
The Prime Minister expressed his deep gratitude to the leaders of Bahrain, especially King of Bahrain Hamad bin Isa Al-Khalifa, for their gracious and warm hospitality, as well as his delegation, during the two-day visit to Bahrain.
Earlier, in his welcome speech, Bahraini Minister of Finance and National Economy Sheikh Salman Bin Khalifa Al Khalifa thanked Prime Minister Shehbaz Sharif and his delegation for their visit to the State of Bahrain.
The minister appreciated the role of Pakistani diaspora and financial institutions in the development and progress of Bahrain. He said the entire region was witnessing a generational transformation and becoming a center of innovation, sustainability and technological excellence.
Highlighting Bahrain’s leading transformational role in modern and emerging technologies, the minister offered huge investment opportunities to Pakistani business and technology companies across several sectors, including artificial intelligence, cybersecurity, metals, automotive components, electronics and other cutting-edge technologies.
