Qureshi woos Romanian investors

Foreign Minister Makhdoom Shah Mahmood Qureshi Monday urged Romanian investors and businessmen to take advantage of the huge trade and investment opportunities in Pakistan.

Addressing a joint press conference with his Romanian counterpart Bogdan Aurescu, the foreign minister said a huge potential existed for the Romanian investors in not only promoting the bilateral trade ties but also from the prospects of Pakistan being a hub of exports to Central Asia as the new markets were now being opened up for the world.

Pakistan, he said, was building an economic corridor with China, and the construction of Gwadar Port would open the world to the landlocked Central Asian Republics and Afghanistan.

Qureshi said during his meetings with the Romanian leadership, measures to promote the economic relations were discussed.

He said great opportunities existed between the two countries to further develop understanding as it was the right time to move ahead.

According to the Romanian counterpart, he added, the bilateral trade between the two countries increased by around 50.6 per cent during the last fiscal year despite the COVID challenge. However, it was not near the real potential in the context of their bilateral ties and the trade opportunities with the European Union, he observed.

The foreign minister said Pakistan was in an advantageous position. With GSP+ status, they felt that it had been mutually beneficial for both the EU and Pakistan.

"Pakistan has been an important trader of the EU and Pakistan has very important relationship with the EU and its members," he added.

Memoranda of Understanding (MoUs) were signed to enhance bilateral cooperation between the trade bodies as well as for the provision of educational scholarships to Pakistani students.

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An MoU was signed between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Romanian Chamber of Commerce and Industry. The document was signed by Pakistan's Ambassador in Romania Dr Zafar Iqbal. Both sides termed the MoU vital for the promotion of bilateral trade and commerce.

In another ceremony held at the Romanian foreign ministry, an MoU was signed for the provision of educational scholarships to Pakistani students by Bucharest Polytechnical University. Ambassador Dr Zafar Iqbal signed the MoU from the Pakistani side while University Rector Mihnea Cosmin Costoiu represented Romania.

Referring to signing of an agreement between the chambers of two countries, Qureshi said it would open new avenues for the corporate and private sectors. The private sector had been and would be a driving force in growing the bilateral trade ties between Pakistan and Romania.

The foreign minister said Pakistan and Romania enjoyed excellent diplomatic ties spanning over 58 years and had been supporting each other at multilateral levels.  "I want to acknowledge that besides excellent bilateral relations and goodwill to each other, our exchanges are frequent. I am here with a very determined view to initiate a new era in our bilateral ties," he said expressing the optimism that his visit would set a new tone for the new era of bilateral relations.

The foreign minister also expressed his confidence that the educational agreement would benefit Pakistani students.

He also thanked the Romanian government and its people on behalf of the prime minister and people of Pakistan for generously donating 5,000 doses of coronavirus to Pakistan.