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Stronger ties Pakistan, Bahrain to set up investment company

Stronger ties: Pakistan, Bahrain to set up investment company

LAHORE: Pakistan and Bahrain have decided to establish a joint investment company in an effort to enhance economic cooperation.

The decision was taken at the Pakistan-Bahrain Business Conference held in Manama where two memoranda of understanding (MoUs) were also signed, says a statement released by the Punjab Board of Investment and Trade (PBIT) on Monday.

One MoU was signed by the PBIT and the Bahrain Economic Development Board, under which both parties will work closely to enhance economic cooperation.

The other MoU was inked by the Federation of Pakistan Chambers of Commerce and Industry and the Bahrain Chamber of Commerce for deepening economic ties.

During the conference, Pakistan and Bahrain agreed to set up a display centre for Pakistani goods in Bahrain.

At the event, aimed at enhancing bilateral trade and economic relations, the PBIT explored areas of collaboration with businesses and investors from various countries including Bahrain, Qatar, Saudi Arabia and the United Arab Emirates.

Bahraini company Albakara expressed interest in Punjab’s growing meat market, while many other investors were keen to explore opportunities in the province’s agriculture and livestock sectors.

Speaking on the occasion, PBIT Chief Executive Officer Amena Cheema briefed investors about Pakistan’s economic turnaround and the positive investment climate in the country’s largest province, Punjab.

She gave assurances to investors that the PBIT would continue to facilitate them by using every resource at its disposal.

Federal Commerce Minister Khurram Dastgir Khan, who was also present on the occasion, praised conference organisers for a thoughtful initiative and voiced satisfaction over the strong relations between Pakistan and Bahrain.

Courtesy : Express Tribune



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