Pakistan Keen To Enhance Business, Trade Ties With Iraq: Minister For Foreign Affairs Bilawal Bhutto Zardari

Minister for Foreign Affairs Bilawal Bhutto Zardari Monday said Pakistan was keen to enhance ties with Iraq in the fields of trade and investment and would take steps to increase economic cooperation with the brotherly country

BAGHDAD, (UrduPoint / Pakistan Point News - 6th Jun, 2023 ):Minister for Foreign Affairs Bilawal Bhutto Zardari Monday said Pakistan was keen to enhance ties with Iraq in the fields of trade and investment and would take steps to increase economic cooperation with the brotherly country.

Speaking at an event of Pakistan-Iraq Business Forum here, he said Pakistan and Iraq shared religious and cultural affinities and now needed to take their bilateral relationship to meaningful partnership by encouraging joint ventures and collaboration between the business communities of the two countries.

He said during his interactions with President and Prime Minister of Iraq, they discussed ways and means to expand cooperation in diverse areas including trade, investment, reconstruction of infrastructure and for sharing experience in water management and agriculture.

He said there was a resolve on both sides to explore new innovative areas for mutually beneficial cooperation.

During talks with the Iraqi leadership, it was agreed to facilitate business community of both countries and introduce flexible visas regimes for them, he continued.

Pakistan had already made arrangement for visa facilitation for foreign investors, he said adding he signed two memorandums of understanding for further enhancing cultural cooperation and for abolishing visa requirements for diplomatic and official passport holders.

He said both countries agreed on opening of Pakistani Consulate in Najaf and an MoU for hospitality of Zaireen was also discussed.

The minister expressed confidence that the business community of both countries would take advantage of the measures taken by the two governments for enhancing business ties and for transfer of capital.

He said the two sides would boost efforts to enhance bilateral trade as the current volume of trade did not commensurate with their trade potential.

He urged the business forum to focus on tapping into new business opportunities so that both countries could move forward in different areas including food security, energy and construction.

He said Pakistan-Iraq Business Council would be formed which would give policy input and suggestions and help implement special initiatives to boost economic cooperation.

He assured of full cooperation of the Pakistan government to the proposed council in achieving its objectives, adding economic diplomacy was at the heart of Pakistan's foreign policy.