Pakistan trade bodies look for JV with Qatari investors
(3/13/2018 7:33:00 AM)
Pakistan Business Forum Doha (PBFD) and Rawalpindi Chamber of Commerce & Industry has entered into a long term partnership aiming at mutual cooperation and promoting bilateral trade, investment and industry between Pakistan and Qatar.
A formal Memorandum of Understanding (MoU) to this effect was signed between Mohammad Idrees Anwar Presi-dent PBFD and Zahid Latif Khan, President RCCI during the ‘Business Networking
Meeting-cum-Dinner’ hosted by PBFD in the honour of 62-Member RCCI Delegation to Qatar recently. Chairman of Security and Exchange Commission of Pakistan (SECP) Zafar Abdullah and Commercial Secretary Salman Ali were also present on the occasion.
The MoU envisages RCCI and PBFD promoting business, trade and investment between Pa-kistan and Qatar by formulating a workable action plan for mutual cooperation and coordination between the business communities of the two countries. Both RCCI and PBFD will act as the facilitators to achieve the same.
As per MoU, PBFD would facilitate in connecting and supporting business opportunities in Qatar whereas RCCI, which is the representative body of the industrial and commercial es-tablishments of Rawalpindi-Pakistan, would become the reciprocal partner and extend necessary support, cooperation, and assistance from Pakistan for overall benefit of respective countries.
Speaking on the occasion Mohammad Idrees Anwar acknowledged that there exists a tremendous potential for promoting joint ventures with the Qatari organisations which needs to be formalised on fast track basis.
He specifically highlighted the sectors which needs to be exploited by Pakistani companies in the wake of ongoing blockade of Qatar including export of food items, building material, medicines, chemicals, etc.
Anwar said that “visit of RCCI delegation to Qatar would open new vistas for trade promotion and transform brotherly relations between two countries into a sustainable and economic partnership”.
Speaking on the occasion, Zahid Latif Khan, President of RCCI explained that this visit has been hurriedly organized in view of excellent feedback received from Qatari counterparts during his earlier visit in December 2017.
“I held number of useful meetings with Qatari counterparts which prompted me to encourage RCCI Members to organize an elaborated business delegation to Qatar representing various areas” Khan said.
He also shared RCCI’s role and achievements in exploring new markets for its members and reiterate that Pakistan is fully capable of supplying food products as being a food-surplus country and enjoying excellent bilateral relations Qatar. He also informed that through such visits, new export areas would also be explored in order to meet emergent requirements of Qatar besides investments opportunities by establishing industrial and processing plants here for local consumption and even re-exports in areas like pharmaceuticals, fruits / vegetables, dairy products, and fresh and frozen. Ahmad Hussain, local businessmen and former President PBFD also spoke on the occa-sion and briefly apprised the gathering regarding PBFD’s efforts for trade promotion for which federal and local chambers, trade bodies as well as investment board were invited and meetings were arranged with Qatari counterparts.
He underlined that, developing trade ties with Pakistan aligns with the current policy of Qatar to enhance its food security as Pakistan en-joys an edge due to transit shipping time of less than four days to Qatar that places us at a competitive advantage.
Besides, Pakistani industry can offer a wide range of products due to its large industrial manufacturing base that includes textiles, pharmaceuticals, technology in-cluding software development and electronics manufacturing, chemical manufacturing and construction industry, he stressed.