Pakistan, Bahrain agree to finalise trade agreement

Web DeskWeb Editor

29th Jul, 2021. 11:59 am
Shah Mahmood Qureshi Bahrain

ISLAMABAD: Pakistan and Bahrain have agreed to work together for B2B interaction between the businessmen of the two countries and the finalisation of the memorandum of understanding (MoU) between the Trade Development Authority of Pakistan (TDAP) and the Bahrain Tourism and Exhibition Authority.

This was agreed during the second meeting of the Bahrain-Pakistan Joint Ministerial Commission held in Manama, Bahrain.

The Bahraini side was chaired by Minister of Foreign Affairs Dr Abdullatif Bin Rashid Al Zayani, while the Pakistani side was chaired by Minister for Foreign Affairs Makhdoom Shah Mahmood Qureshi, a statement issued by the Ministry of Foreign Affairs said.

For the establishment of the Joint Ministerial Commission, an agreement was signed between the two countries in 2014.

The two sides held fruitful discussions and agreed to work for the joint investment in the industrial sector and hold expert-level meetings of the joint working groups in agriculture, trade and investment, labour and manpower, oil and gas and IT sectors.

The meeting focused on bilateral cooperation in various sectors, including political, economic, commerce, finance and banking, industry, public health, overseas employment, higher education, science and technology, information, culture and arts, agriculture and livestock and technical cooperation.

Dr Al Zayani welcomed the Pakistani delegation and expressed his keen interest in furthering the deep-rooted bilateral relations between the two countries.

He recalled the visit of the former minister of foreign affairs Shaikh Khalid bin Ahmed bin Mohammed Al Khalifa to Pakistan in February 2017, co-chairing the first Joint Ministerial Commission meeting held in Islamabad; during which a range of bilateral and regional matters of mutual interests were discussed with the Pakistani senior leadership.

Dr Al Zayani underlined the importance of establishing an open and enabling environment for business and economic cooperation, so that the potential for the development between the two countries could be fully harnessed.

He also highlighted the two countries’ efforts in combating the Covid-19 pandemic, from its very outset, as an outstanding example of their close and effective cooperation, noting the efficient work to repatriate citizens back in 2020, the free access to vaccination for the Pakistani expatriate community, and the ongoing care and assistance provided to the Pakistanis in Bahrain.

Foreign Minister Qureshi thanked the Bahraini side for the warm welcome and hospitality extended to him and his delegation.

He highlighted the longstanding relations between Pakistan and Bahrain, characterised by a spirit of friendship and solidarity.

He also said the experience and expertise acquired by the two countries in many spheres over time could be shared for their mutual benefits.

The foreign minister emphasised the need to expand economic ties between the two countries.

The two sides also highlighted the importance of the regular meetings of established bilateral mechanisms and high-level bilateral visits, recalling the successful visit to the Kingdom of Bahrain by Pakistan’s Prime Minister Imran Khan on December 16, 2019, and the landmark state visit of King Hamad Bin Isa Al Khalifa to Pakistan in February 2014, which laid a strong foundation to build a close partnership between the two countries, and the visit of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of the Bahrain to Pakistan in December 2006.

On the sidelines of the JMC, an MoU between the Bahrain Export Development Board (EDB) and the Board of Investment of Pakistan was also signed to promote bilateral investment between the two friendly countries.

The two sides resolved to implement the decisions reached during the second session expeditiously and finalise at the earliest, the MoUs/agreements under consideration.

They agreed, in principle, to hold the third meeting of the Pakistan-Bahrain Joint Ministerial Commission in Islamabad in 2022.

Adsence 300X250