FPCCI Hails Qatar Emir Visit

President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Engr. Daroo Khan Achakzai has welcomed the visit of Emir of State of Qatar Sheikh Tamim bin Hamad Al Thani and said it will go a long way in promotion of bilateral trade and economic relations between Pakistan and Qatar

KARACHI, (UrduPoint / Pakistan Point News - 25th Jun, 2019 ):President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Engr. Daroo Khan Achakzai has welcomed the visit of Emir of State of Qatar Sheikh Tamim bin Hamad Al Thani and said it will go a long way in promotion of bilateral trade and economic relations between Pakistan and Qatar.

In his statement issued by FPCCI on Tuesday, he said it will open new opportunities for enhancing bilateral trade and economic cooperation. The economic partnership between Pakistan and Qatar was expanding over the passage of time and had reached dollars nine billion including dollars 3 billion cash depositing in State Bank of Pakistan, $ 3 billion as Foreign Direct Investment and $ 3 billion for other projects which will help Pakistan in bringing out from economic crisis.

While commenting on trade relations, he stated that at present the volume of bilateral trade between Pakistan and Qatar stood at $ 2.4 billion which was in favor of Qatar due to import of LNG in large volume during the last two years.

Pakistan has considered Qatar as one of its major export destinations and lucrative market where the volume of traditional exports such as textiles, fruit, carpets, footwear, sports good, leather, furniture especially surgical instruments could be increased by aggressive marketing and close interaction of business community and private sector.

There is a vast potential exists for the two countries in agriculture,banking, aviation, finance, insurance, information technology, tourism, education, science, technology etc., as both countries have signed and enforced Bilateral Investment Treaty and Double Taxation Treaty agreements in 2009 which could help in joint venture investment in both countries.

He also urged the Government of Pakistan to expedite the process to implement the agreement signed earlier this year for sending 100,000 Pakistani workers to Qatar for blue collar jobs.

FPCCI President revealed that FPCCI delegation would soon have a meeting their Qatari counterpart to discuss various future economic activities between the private sector of both countries. FPCCI would also invite the Qatari counterpart in the Board of Directors meeting of Islamic Chamber of Commerce, Industry and Agriculture, which will be held in November 2019.