Bahraini business delegation calls on PM Nawaz
Staff Report
Thursday - March 30, 2017
ISLAMABAD: Bahraini Industries, Commerce and Tourism Minister Zayed R. Alzayani along-with a delegation of Bahrain Chamber of Commerce and Industry (BCCI), led by BCCI chairman Khalid Almoayed, called on Prime Minister (PM) Nawaz Sharif; official statements said on Wednesday.
Alzayani conveyed the greetings of Bahraini King Hamad Bin Isa Al Khalifa to PM Nawaz and said that he comes with a special mandate to expand the scope of economic ties between both countries.
The Bahraini businessmen appreciated Prime Minister’s policy of welcoming foreign investment and said that they are keen to play an active role in expanding the volume of trade between both brotherly countries.
They expressed their keen interest to take part in Pakistan’s emerging economy and highlighted their interest in further expanding exports from Pakistan for Gulf counties.
The BCCI delegation thanked PM Nawaz for his warm welcome to Pakistan and expressed the hope to further strengthen trade ties with Pakistan.
While warmly welcoming the business delegation to Pakistan, Prime Minister stated that Pakistan welcomes the initiative of establishing Pakistan-Bahrain Joint Holding Company by Bahraini businessmen. “We are confident that it will be successful in increasing bilateral trade and investment,” PM Nawaz said.
Prime Minister said that Pakistani Diaspora in Bahrain acts as a human bridge between the two brotherly countries and have been playing an important role in the development and prosperity of both Pakistan and Bahrain.
He informed the delegation about China-Pakistan Economic Corridor (CPEC) and stated that CPEC is not only a framework of regional connectivity, but a game changer for the entire region.
“CPEC is a corridor of energy, roads, motorways, pipelines, rail networks and optical fibre with an investment outlay of over $51 billion,” PM Nawaz added. Government, as well as business community of Bahrain can benefit immensely from the opportunities and prospects offered by CPEC, Prime Minister said.
He stated that the economic outlook of Pakistan has altogether changed in the last three years, which is being acknowledged by independent financial rating institutions.
“My government after coming into power started making best efforts to put the economy on a path of sustained long-term economic growth. In this context, focus remained on public-private partnership in the development process, improved productivity in agriculture sector, removal of energy shortage, enhanced industrial competitiveness, better service delivery system and upgraded human capital formation,” PM Nawaz stated.
He added that Pakistan is open for business. “There are over one thousand multinational companies profitably operating in Pakistan. They enjoy a level playing field with the domestic investors and do not face any barriers to entry or exit. They can expand capital and infrastructure without hindrance,” Prime Minister added.
PM said that the Foreign Direct Investments (FDIs) is protected under law through the Acts of Parliament and that the law of Special Economic Zones (SEZs) has been made to meet the global competitiveness challenges to attract FDIs.
“The law allows creating industrial cluster with liberal incentives, infrastructure, investor facilitation services to enhance productivity and reduce cost of doing business for economic development and poverty reduction,” PM Nawaz said.
He assured the delegation that Pakistan is a land of unlimited opportunities and offered investment opportunities in various sectors such as energy, agriculture, food processing, infrastructure, information and communication technology, textiles, apparel, surgical instruments and leather products.
“I am confident that investors from Bahrain will benefit from opportunities arising from the economic growth of Pakistan leading to further growth of our trade relations,” Prime Minister stated.
The BCCI delegation also comprised of BCCI vice chairman Khalid Al Zayani, BCCI senior member Sheikh Mohamad Bin Isaac, BCCI executive board member Muhammad Sajid, BCCI joint council chairman Muhammad Usman, BCCI executive board member Ahmed Bin Hindi, BCCI parliament member Ali Ahmed Bufarson, BCCI small medium enterprises (SME) council chairman Ahmed Al Saloom, BCCI business council chairwoman Ferial Nas, BCCI member Suhair Bokhammas and others.
Also participated in the high level meeting were Finance Minister Muhammad Ishaq Dar, Commerce Minister Engineer Khuram Dastagir Khan, Pakistani Ambassador to Bahrain Javed Malik along-with other senior officials.
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