PM says Pakistan can become Asia’s premier trade, transport corridor

Meets FrieslandCampina CEO, briefs him on country’s economic reforms

ISLAMABAD: Prime Minister Nawaz Sharif has said Pakistan's strategic location makes it a market with potential to become Asia's premier trade, energy and transport corridor.

"Our government is working on various infrastructure, energy and communication projects to facilitate trade and investment in diverse sectors," the prime minister said in a meeting with Royal FrieslandCampina (Netherlands) CEO Roelof Joosten and Engro Corporation Chairman Hussain Dawood at the PM House. The Dutch company has recently bought a majority stake in Engro Foods.

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The prime minister said 60% of the country’s population is less than 30 years of age comprising a labour force of highly skilled professionals.

He informed the delegation that the government has recently extended subsidy on fertiliser to facilitate the farmers. He also mentioned that laws have been promulgated for Special Economic Zones to meet global challenges of competitiveness and also to attract foreign direct investment (FDI).

"We are lucky to have a land with four seasons, abundant rich natural resources, extensive irrigation network, favourable climate, year round crop production, trained work force and a vibrant economic outlook," he said.

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The premier added that his government has focused on economic reforms to increase investors' confidence.

Meanwhile, Joosten said that Central Asia is important to the company’s business strategy and Pakistan offered the opportunity to invest in the region.

"There is a growing need for high quality dairy products in Pakistan. This is why we are bringing in our technology, capabilities and experiences to develop these products for the Pakistani market by working together with the local farming community," the CEO said.

The CEO expressed his plan to make Pakistan’s dairy products export-worthy and to invest an additional $100 million in the next couple of years.

“Pakistan is becoming an investment-friendly destination due to improved security environment, rapidly expanding quality infrastructure and marked reduction in energy shortages.”

Meanwhile, Engro Chairman Dawood highlighted the need to explore partnership opportunities with the government to bring the local dairy industry at par with international standards and contribute to Pakistan’s dairy sector’s development.