FPCCI ready to welcome Qatar’s investment in energy, infrastructure

KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Vice President Fehmida Jamali said on Tuesday that they would welcome investment by Qatar in its ongoing and new energy and infrastructure projects, and hoped Qatar would also support early conclusion of Free Trade Agreement (FTA) between Pakistan and Gulf Cooperation Council (GCC).

While speaking to delegation, Fehmida said significance of trade and economic diplomacy and reiterated that positive role which businessmen and traders can play in bringing people, communities and countries together. “In the modern world, trade and economic diplomacy compliments the traditional diplomacy being done by embassies, and if rightly executed can certainly pave the way for expansion of bilateral relations and achievement of foreign policy goals of a nation state.”

It’s high time Pakistan businessmen should initiate joint ventures (JVs) with Qatar counterparts as abundant investment and business opportunities were available in various sectors including infrastructure, tourism, agriculture and healthcare.

She said despite fact, Pakistan and Qatar were members of Organisation of Islamic Cooperation (OIC) and have close and cooperative relations but these prolonged ties did not reflect in bilateral economic relations” From 2012 to 2013, mutual trade has been decreased from $425 million to $243 million. He said Pakistan’s exports to Qatar were consistently declining. In 2011, the volume of total exports to Qatar was $115.4 million, which dropped to $79 million in 2012 and remained the same in 2013.

FPCCI is ready to play an effective role to promote trade and economic cooperation between the two countries through the collaboration of Qatar Chamber of Commerce & Industry.

She also hoped the new directors of Pakistan Qatar business council should also play constructive role in bridging the gap of information and interaction between the businessmen of two countries.

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