Fostering Joint Ventures, Exchange Of Delegations To Bolster Pak-Iraq Trade: Iraqi Ambassador

Ambassador of Iraq to Pakistan Hamid Abbas Lafta Thursday said Iraq and Pakistan share strong historical ties and numerous commonalities, which present significant opportunities for enhancing bilateral relations

ISLAMABAD, (UrduPoint / Pakistan Point News - 12th Dec, 2024) Ambassador of Iraq to Pakistan Hamid Abbas Lafta Thursday said Iraq and Pakistan share strong historical ties and numerous commonalities, which present significant opportunities for enhancing bilateral relations.

He was talking to a delegation of Islamabad Chamber of Commerce and Industry (ICCI), led by President Nasir Mansoor Qureshi.

Ambassador Lafta emphasized the potential for further enhancing economic and trade relations between the two nations, noting that despite various challenges, both countries must work together to overcome these obstacles for the benefit of their peoples.

He highlighted that Iraq offers a stable and secure environment for foreign investment, encouraging Pakistani investors to explore opportunities in various sectors.

He reiterated the importance of fostering joint ventures and exchanges of delegations to bolster trade. Key areas for cooperation include improving financial transactions and transportation links, particularly between the two countries, which will soon be addressed.

Ambassador Lafta invited the Pakistani business community to participate in Iraqi expos to showcase their products and enhance trade relations.

He emphasized that economic collaboration would benefit both countries, with great potential in areas such as pharmaceuticals, textiles, food, and energy.

On his part, Nasir Mansoor Qureshi expressed gratitude for the opportunity to explore business opportunities and stressed the need to strengthen existing trade relations.

He pointed out that approximately 200,000 Pakistanis visit Iraq annually for pilgrimage, and there is untapped potential to expand beyond this sector.

Qureshi emphasized the role of Chambers of Commerce in both countries in facilitating trade and promoting economic cooperation.

ICCI President also discussed the challenges posed by limited direct connectivity and urged the initiation of trade through the strategic Gwadar port.

He also highlighted Pakistan’s tourism potential, particularly in the northern regions, as a key area for further collaboration.

"We are confident that both governments, through high-level bilateral visits and continuous cooperation, will pave the way for a prosperous future for both countries," said Qureshi, inviting the Ambassador to visit the ICCI and meet with business leaders to explore additional avenues for collaboration.