ISLAMABAD – Caretaker Federal Minister for Commerce, Textile and IndustryProduction, Mian Misbah-ur-Rehman has suggested that Qatar could procuregoods and services from Pakistan for the upcoming FIFA World Cup, scheduledto be held in Qatar in the year 2022.
“As Qatar is preparing for hosting FIFA World Cup 2022, substantial scopeexists for procurement of goods and services from Pakistan,” the ministersaid while addressing Pakistan-Qatar Business Conference here on Thursday.
The conference is being participated by businessmen belonging to differentsectors of the economy from Qatar and Pakistan to explore ways and meansfor enhancing trade cooperation between the two brotherly countries.
The minister also suggested for the formation of a joint working group ontrade and investment for regular interaction.
The minister was of the view that although trade between the two countrieswitnessed considerable growth, however, it was mostly in favour of Qatar.
He said that Pakistan’s exports to Qatar have shown an increase of 80percent in 2017-18 but in value terms, its was only an increase of US$37million.
He said that due to the import of LNG, the trade deficit of Pakistan withQatar has increased to US$1.6 billion as imports have jumped by 47 percentin the financial year 2017-18 when compared to the same period of FY2016-17.
“I believe that we should accept this as a challenge and work togethertowards achieving it,” he said and invited Qatar to invest in Agriculture,food-processing and petrochemical industry in Pakistan.
He said that although it was the government’s job to provide for a tradefacilitative and business-conducive environment, it was the private sectorplayers who were the true engines of growth for international trade andinvestment.
He expressed the hope that this conference would provide the driving forceto promote Business to Business interactions and public-privatepartnerships between the two side.
Speaking on the occasion, Qatar Minister of Economy and Commerce, Sheikh Ahmed bin Jassim bin Mohammed Al Thani said that the joint tradeand investment relationship between Pakistan and Qatar gained considerablemomentum back in year 2012.
He said that currently there were about 851 companies jointly owned byPakistanis and Qataris operating in Qatar in various fields of economy.
He expressed the hope that the current business conference would pave wayfor many mutual agreements that would be beneficial for both the countries.
He said that Qatar had to suffer challenges including illegal blockade thatwas imposed on it in 2016, however, added that it had come out safe. Hesaid that Qatar was open to Pakistani investors who would be welcomed toinvest in different sectors, particularly in Hamad Seaport. – APP