DOHA: Pakistan’s Minister of Commerce, Khurram Dastgir Khan yesterday said that the purpose of his visit to Qatar was to transform brotherly relations between two countries into an economic partnership.
“Definitely trade was high on the agenda of my visit. Both countries have a joint and shared vision to transform brotherly relations into an economic partnership,” he said while briefing the media.
He said that during his stay in Qatar he had very productive meeting with Qatar’s Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani, visited Qatar Chamber of Commerce and also met head of Qatar Business Association.
The minister said that there was a great potential in Pakistan for Qatari businessmen to invest in energy infrastructure, tourism, agro-food processing etc. “Agro food processing is very lucrative sector in which Qatari companies can invest with full confidence. It can be executed quickly as agricultural produce is already there and they just need technology and management.”
In IT sector, he said, there was also a tremendous scope in Pakistan for investors. “Pakistan has 40 million subscribers of broad band after introduction of 3G, 4G. Qatari companies can invest in this field as well.”
He said that he had received great response from Qatari officials and private sector. “I also talked on the issue pertaining to difficulties Pakistani companies find in getting business visa of Qatar and soon these problems will be addressed with consultations.”
The minister said that Qatari officials and private sector had suggested him to bring projects for their assessment. “We are more than happy to do the same. I have insisted on visits from Qatari businessmen to Pakistan as I think the venue is the message.”
The minister said that there was a lot of room for retail infrastructure development in Pakistan. “Qatar is a country with magnificent malls. In Pakistan, the middle class is growing and consumer spending is very high therefore Qatari businessmen can also invest in this sector.”
“I have brought a number of good news about Pakistan. First and foremost is the fact that Pakistan is a peaceful country again as it has overcome violent extremism as well security unrest in Karachi. Now incidents of terrorism have dropped by 77percent,” he said.
He said that Pakistan at the same time had made a very good progress in overcoming energy crisis. “We alone and with the help of our partners like China are setting up new generation plants and working on producing electricity with coal, wind, solar etc. With the help of LNG imported from Qatar, Pakistan has also overcome problem of gas shortage.”
Dastgir Khan said that two principal constraints which were hindering Pakistan’s growth including terrorism and energy crisis had been addressed by incumbent government of Prime Minister Nawaz Sharif “and Pakistan is now poised to grow”.
He said that Pakistan’s public finances had also stabilized and country’s credit ratings had improved many degrees which were very important to boost investors’ confidence.
On China Pakistan Economic Corridor (CPEC), he said that it was a game changer not only for Pakistan but for the whole region. “It is a $55bn initiative and under it three quarter projects revolve around energy generation.” The minister said that CPEC would ensure improved connectivity to Afghanistan and central Asian states. “CPEC will bring shared prosperity through regional connectivity.”
He said that government of Pakistan was also encouraging Pakistani companies to participate in infrastructure development related to FIFA 2022. “Pakistan can export home textile, hospitality textile, sports goods, construction material etc. They should participate in exhibition being held in Doha.”
He said that Pakistan would address Qatari concerns which had become an impediment for Pakistani rice exports to Qatar. “Five years ago yearly export of rice to Qatar from Pakistan was $78m which dropped to just $22m last year. Soon this problem will get settled,” he hoped.
He said that 26-member delegation of Pakistani businessmen accompanied him in his visit to Qatar. “They represent various sectors like rice exporters, sports goods manufacturers, companies related to food processing.” He said that marble exporters were also participating in Project Qatar exhibition.
