ISLAMABAD – Minster for Finance Asad Umar Thursday invited the Kuwaitibusinessmen to explore investment opportunities in Pakistan’s oil and gassector and projects under China Pakistan Economic Corridor (CPEC).
He said the Kuwaiti companies could help Pakistan in exploring Pakistan’shuge oil and gas reserves which were yet to be explored.
The minister was addressing a meeting of Joint Ministerial Commission (JMC)with Kuwait here at a local hotel. The Kuwaiti side was headed by itsminister for commerce Khalid Nasir Abdullah. Asad said CPEC was a hugeproject of over $50 billion out of which $27 billion worth of projects wereunder implementation.
“We are in close collaboration with China with regard to implementation ofCPEC projects and we want to further expand the corridor,” he said adding“we want all out friendly countries should join CPEC for the socioeconomicdevelopment of people of the region”.
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Speaking about bilateral trade, the minister said during last year,Pakistan’s exports to Kuwait stood at only $91 million which were far lessthan the true potential. “The two countries should increase tradecooperation to expand the bilateral trade volume.”He informed that by following the Japanese model, the Pakistan governmenthad also kept commerce, investment, and industry under one window to makethese sectors more effective and operational.Further he also asked the Kuwaiti side to make visa regime for Pakistanbusinessmen and workers easier to enhance the bilateral relations.“Pakistani workers are contributing in development of Kuwait in diversefields including information technology, and oil and gas sectors.”
Asad Umar also stressed the need for development of private sector of thetwo countries by enhancing cooperation between their chambers of commerceand industry.
