Pakistan, Bahrain Pen MoU For Promotion Of Trade, Business Harmonization

Aizbah KhanWeb Editor

30th Jul, 2021. 11:19 am
Pakistan, Bahrain Pen MoU For Promotion Of Trade, Business Harmonization

Pakistan and Bahrain have signed a Memorandum of Understanding (MoU) for the promotion of trade between the two countries, working together for economic growth and business harmonization.

A memorandum of understanding was signed between the Board of Investment (BOI) and the Bahraini Economic Development Board at the end of the second meeting of the Joint Ministry Commission in Manama.

According to the details announced by the Board of Investment, this MoU will be valid for 2 years and can be renewed with the approval of both parties.

Khalid Ibrahim Hamidan, Chief Executive Officer of Bahrain Economic Development, and Jamil Ahmad Qureshi, Director General of BOI, signed the Memorandum of Understanding on behalf of their respective governments.

According to the BOI, the areas of focus in the MoU include manufacturing, tourism, logistics, information and communication technology, financial services, health, education and skills training.

The Foreign Ministers of Pakistan and Bahrain led their respective delegations at the meeting of the Joint Ministerial Commission.

The two sides highlighted the importance of holding regular meetings of the established bilateral mechanism and high-level bilateral visits.

In terms of economic cooperation, the two countries recognized the immense potential for further development of areas of mutual interest, with a focus on trade and business development.

It was also agreed to invite each other to participate in MoU related activities such as conferences, symposiums, roadshows, workshops, forums, exhibitions and business delegations.

In addition, the two sides agreed to start talks on a comprehensive economic partnership agreement.

A list of Pakistani exporters of auto parts was provided by Pakistani authorities as a possible partnership.

The two countries agreed to promote cooperation between each other’s various textile associations and welcomed cooperation at the parliamentary level, emphasizing the need for mutual exchange of visits.

On the other hand, Foreign Minister Shah Mehmood Qureshi called on the Prime Minister of Bahrain and Crown Prince Salman bin Hamad bin Isa Al Khalifa.

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