FM highlights ‘immense business potential’ of Pakistan

Opportunities available ‘despite global and domestic challenges’, says Bilawal

DAVOS, SWITZERLAND:

Addressing Pakistan’s business community at Davos, Foreign Minister Bilawal Bhutto Zardari noted Pakistan’s “immense business potential” on Wednesday, while noting that this was the case despite the various challenges the country faced both on the global as well as domestic fronts.

He said that Pakistan faced “existential threats” some of which were shared by the global community, such as the COVID-19 pandemic and climate change, while others were specific to the country’s domestic context. Of the latter, he particularly highlighted the “severe economic consequences” the country suffered subtly pointing to the former PTI government’s policies.

He also added that just like in Afghanistan, ultimately the solution for the Ukraine conflict will have to come through diplomacy as he encouraged the international community to engage in dialogue.

Pakistan and GCC agree to enhance bilateral trade

Earlier today, FM Bilawal Bhutto and Gulf Cooperation Council (GCC) Secretary General Dr Nayef Falah M Al-Hajraf agreed to explore further avenues to enhance bilateral trade and economic ties.

Bilawal met the GCC secretary general on the sidelines of the annual meeting of the World Economic Forum (WEF) in Davos, where the status of Pakistan’s cooperation with GCC member states was reviewed. It was also agreed to strengthen institutional linkages, in line with the Joint Action Plan for Strategic Dialogue.

Minister of State for Foreign Affairs Hina Rabbani Khar and Minister for Climate Change Sherry Rehman were also present during the meeting.

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Recalling historical linkages, geographical proximity and cultural affinities between Pakistan and the GCC, the foreign minister underscored that Pakistan attached high importance to its fraternal relations with member states of the GCC, both bilaterally and in the context of the GCC.

With regards to the Pakistan-GCC Free Trade Agreement (FTA), the two sides expressed determination to conclude the negotiations at the earliest.

Pakistan and the GCC enjoy long-standing cordial relations. Pakistan’s relations with the Member States of the GCC are rooted firmly in shared faith, values and culture.