FM Qureshi preaches economic diplomacy to envoys in Europe

By Staff Reporter
Thursday – March 4, 2021
ISLAMABAD: As part of incumbent’s economic outreach initiative the fifth virtual meeting on economic diplomacy was held on Wednesday, wherein highlighting the growing importance of geo-economics in international politics, the foreign minister (FM) Shah Mahmood Qureshi underscored economic diplomacy as an essential part of modern diplomatic practice.

According to a press release, the meeting was chaired by the FM and the deliberations focused on Europe.

He stated that, in line with prime minister (PM) Imran Khan’s vision, the foreign office (FO) and the missions abroad are at the forefront of safeguarding and advancing Pakistan’s economic interests.

They play an important role in successful implementation of a range of measures including the PM’s ‘global initiative on debt relief’ for developing countries, PM’s economic outreach initiative (EOI), and the Roshan Digital Account.

FM Qureshi encouraged envoys to cultivate and broaden mutually beneficial trade and economic partnerships with European countries, focusing on key goals of trade promotion, financial inflows, investments, remittances, tourism and technology transfer.

Underscoring the importance of consolidating and expanding Pakistan’s economic outreach with Europe, he stressed the need to diversify exports to the European Union (EU) countries to fully utilise the benefits under the generalised scheme of preferences (GSP) plus status.

FM Qureshi further emphasised the need to constructively engage with parliamentarians in Europe and EU parliament with a view to maximising avenues for economic outreach and collaboration.

He appreciated the increased inflow of investment from Europe into Pakistan and urged the missions to proactively engage with their interlocutors to showcase the investment potential of the country.

Highlighting the incumbent’s continued efforts in this regard, FM Qureshi highlighted Pakistan’s impressive improvement in ease of doing business ranking. Pakistan has also secured 6th place among world’s top 10 business climate improvers.

He instructed the envoys to identify and address bottlenecks that hinder expansion of economic collaboration with host countries.

The envoys were also asked to identify sectors where Pakistan could enhance its economic footprint in Europe.

During the virtual meeting, the Pakistani envoys apprised the FM of their activities and programmes in economic and commercial domains.

They briefed about measures to strengthen existing linkages and forging new ones for bolstering Pakistan’s economic imprint in Europe.

In keeping with PM Khan’s vision, FM Qureshi has consistently accentuated promotion of economic diplomacy and increased economic cooperation with partner countries.

Regular virtual meetings and interactions on economic diplomacy with Pakistani envoys in key capitals are part of these efforts.

Pakistan’s envoys to France, Italy, Norway, Poland, Romania and Russia participated in the meeting.