Qatar asks Pakistan to explore joint ventures

Says the country is in dire need of skilled manpower.

LAHORE: The head of a six-member Qatari delegation, Ahmed Hussain, has invited Pakistani businessmen to initiate joint ventures with their Qatari counterparts as abundant investment and business opportunities are available in various sectors including infrastructure, tourism, pharmaceutical and healthcare.

He was speaking at the Lahore Chamber of Commerce and Industry (LCCI).

Hussain said a single-country exhibition would be organised for Pakistani businessmen in Qatar by the end of March 2015. “We would like to request Pakistani companies to take part in the exhibition to establish close contacts with their counterparts.”

He said Qatar was also in dire need of skilled manpower and Pakistan could earn huge foreign exchange through exporting manpower to Doha. Qatar also needs Pakistan’s help in education, health and engineering sectors. He stressed the need for developing a screening mechanism.

“Despite the fact that Pakistan and Qatar are members of the Organisation of Islamic Cooperation (OIC) and have close, friendly and cooperative ties but these do not reflect in the bilateral economic relations,” said LCCI President Ijaz A Mumtaz while speaking on the occasion.

From 2012 to 2013, trade between the two sides decreased from $425 million to $243 million. Pakistan’s exports to Qatar were consistently declining. In 2011, the volume of total exports was $115.4 million, which dropped to $79 million in 2012 and remained the same in 2013.

The LCCI president said the chamber was ready to play an effective role in promoting trade and economic cooperation between the two countries.

He said Pakistani construction companies, if provided proper information, could evaluate Qatar as a potential market. Likewise, Qatar can benefit from the cheap and abundant labour force available in Pakistan for this purpose.

Other members of the delegation included Unicon Limited Managing Director Muhammad Khan, Qatar Lubricants Managing Director Fawad Rana, Al-Anis Trading Co Managing Partner Israr Malazai, Gulf GRC Group of Companies Managing Director Pervez Iqbal and AIKhayarin Group of Companies Managing Partner Mohammad Idrees.

Published in The Express Tribune, December 27^th,  2014.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.