Pakistan to broaden trade relations with GCC member states

Pakistan to broaden trade relations with GCC member states

Pakistan to broaden trade relations with GCC member states

Pakistan to broaden trade relations with GCC member states Photo Courtesy: Staff Reporter

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KARACHI: Federal Finance and Revenue Minister Shaukat Tarin has assured to work on enhancement of trade and economic relations with the Gulf Cooperation Council (GCC) member states.

Tarin, while welcoming the GCC secretary general Dr Nayef Falah Al Hajraf, at the Finance Division, discussed promotion of economic relations between the two countries.

Tarin said that Pakistan’s relations with the Gulf member countries are rooted in shared faith, values and culture. The finance minister appreciated the GCC member countries for extending their hospitality to a large number of Pakistanis living in the Gulf countries.

“Tarin also underscored the current economic situation of Pakistan and said that the government is committed to introduce reform in various sectors, in the face of various challenges, to address the long outstanding structural issues and to attain sustainable and inclusive growth,” Arab News quoted the finance ministry as saying.

“He further said that the present government has introduced reforms in agriculture, industry, IT, housing, investment and other sectors and promotion of tourism as vital for economic growth.”

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The GCC secretary general highlighted the deep-rooted relationship between GCC member countries and Pakistan and discussed various avenues of cooperation and collaboration especially for the enhancement of trade, economic and investment opportunities between Pakistan and GCC member states, the Ministry of Finance stated.

Tarin backed Hajraf’s proposals to broaden trade, economic relations and investment opportunities between Pakistan and the GCC member countries and assured them of the government’s full support.

Earlier on Wednesday, the GCC secretary-general held delegation-level talks with Pakistan’s Foreign Minister Shah Mahmood Qureshi, as the two sides reviewed mutual cooperation and steps to foster collaboration in diverse fields, particularly trade and economic relations between Pakistan and GCC member states.

“I am certain, Insha’Allah, we will be able to strengthen our ties with the GCC during Saudi Arabia’s presidency,” the foreign minister told reporters.

Qureshi said that he had briefed Hajraf on the human rights situation in Indian-administered Kashmir and on the condition of minorities in India.

The GCC secretary general is visiting Pakistan on an invitation extended by Qureshi during Al-Hajraf’s last visit to the country to attend the 17th Extraordinary Session of the Organisation of Islamic Corporation (OIC) on December 19.

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The GCC is a regional, intergovernmental political and economic union that consists of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

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