Pakistan, Bahrain to boost economic cooperation: PM Shehbaz

PM says upcoming Pakistan-GCC FTA will strengthen trade, invites Bahraini investors

Prime Minister Muhammad Shehbaz Sharif has said the Pakistan-GCC Free Trade Agreement, to be signed very soon, will help enhance trade between Pakistan and the GCC-member countries, particularly with Bahrain.

Addressing the business community in Manama on Thursday (today), the prime minister said his government is ready to support joint ventures, facilitate investment plans, and assist in a mutually rewarding journey of progress.

He asked the Bahrain leadership and businessmen to come forward, work together, and make Pakistan’s economy, particularly the industry, agriculture, IT, and fintech sectors more vibrant.

PM Shehbaz said Pakistan and Bahrain are two brotherly countries and that their decades-old relations are based on culture, religion, mutual respect, and trust. He said the two nations also enjoy decades-old strategic cooperation and that it is now time to transform these relations into more vibrant economic cooperation.

The prime minister said Pakistan is ready to enhance economic cooperation with brotherly Bahrain in all areas of mutual interest, including agriculture, IT, AI, and fintech.

Read: Pakistan sees FTA as engine of growth with Gulf countries

The prime minister also extended his gratitude to the Bahrain leadership, including the King, the prime minister, deputy prime minister, the crown prince, and the foreign minister, for their unwavering commitment towards Pakistan, saying that his meetings with them remained extremely productive.

The prime minister also expressed appreciation for the support provided to the more than 150,000-strong Pakistani community in Bahrain and thanked the King for pardoning Pakistani prisoners.

They reaffirmed the importance of the longstanding defence partnership and agreed to continue strengthening cooperation in training, logistics, manpower, and defence production.

PM also praised and saluted the most vibrant Pakistani community living in Bahrain for their hard work and unflinching resolve and dedication towards the development of Pakistan and Bahrain.

He said the Pakistani community living in Bahrain dispatched their hard-earned money and remittances worth 484 million dollars during the last financial year, which he described as highly commendable.

The prime minister expressed his profound gratitude to the leadership of Bahrain, particularly the King of Bahrain Hamad bin Isa Al-Khalifa, for extending gracious and warm hospitality to him and his delegation during the two-day visit to Bahrain.

Earlier, in his welcoming remarks, Bahrain's Minister for Finance and National Economy, Shaikh Salman Bin Khalifa Al Khalifa, thanked Prime Minister Shehbaz Sharif and his delegation for visiting the State of Bahrain.

The minister appreciated the role of the Pakistani diaspora and financial institutions in the development and progress of Bahrain. He said the whole region is witnessing a generational transformation and becoming a center of innovation, sustainability, and technological excellence.

Highlighting Bahrain’s leading transformational role in modern and emerging technologies, the minister offered huge investment opportunities for Pakistani business and tech companies in multiple sectors, including artificial intelligence, cybersecurity, metals, automotive components, electronics, and other advanced technologies.