Pakistan Business Forum Doha (PBFD) and Rawalpindi Chamber of Commerce & Industry have entered into a long-term partnership aimed at promoting mutual co-operation and bilateral trade, investment and industry between Pakistan and Qatar.
A formal memorandum of understanding (MoU) to this effect was signed between Mohamed Idrees Anwar, president PBFD and Zahid Latif Khan, president, RCCI, during the ‘Business networking meeting-cum-dinner’ hosted by PBFD in the honour of a 62-member RCCI delegation to Qatar recently.
Chairman, Security & Exchange Commission of Pakistan (SECP) Zafar Abdullah and commercial secretary Salman Ali were also present on the occasion. The MoU envisages RCCI and PBFD promoting business, trade and investment between Pakistan and Qatar by formulating a workable action plan for mutual co-operation and co-ordination between the business communities of the two brotherly countries. Both RCCI and PBFD will act as the facilitators to achieve the same.
As per the MoU, PBFD would facilitate in connecting and supporting business opportunities in Qatar whereas RCCI, which is the representative body of the industrial and commercial establishments of Rawalpindi-Pakistan, would become the reciprocal partners and extend necessary support, co-operation, and assistance from Pakistan for the overall benefit of respective countries.
Anwar said “tremendous potential” exists for promoting joint ventures with the Qatari organisations, which needs to be formalised on a fast-track basis.
He specifically highlighted the sectors, which need to be exploited by Pakistani companies in the wake of ongoing blockade of Qatar, including export of food items, building material, medicines, chemicals, etc.
Anwar said the “visit of RCCI delegation to Qatar would open new vistas for trade promotion and transform brotherly relations between the two countries into a sustainable and economic partnership”.
Khan explained the visit was hurriedly organised in view of “excellent feedback” received from his Qatari counterparts during his earlier visit in December 2017.
“I held number of useful meetings with Qatari counterparts, which prompted me to encourage RCCI members to organise an elaborate business delegation to visit Qatar, representing various areas” he said.
Khan also shared RCCI’s role and achievements in exploring new markets for its members and reiterated that Pakistan was fully capable of supplying food products as being a food-surplus country and enjoying excellent bilateral relations with Qatar.
Through such visits, he said new export areas would also be explored in order to meet emergent requirements of Qatar besides investments opportunities by establishing industrial and processing plants here for local consumption and even re-exports in areas such as pharmaceuticals (importation and local production in Qatar), fruits / vegetables, dairy products and fresh and frozen (import & local).
Ahmad Hussain, a local businessman and former president PBFD also spoke on the occasion and apprised the gathering about PBFD’s efforts for trade promotion for which federal and local chambers, trade bodies as well as investment board were invited and meetings were arranged with Qatari counterparts.
Post-blockade, he said there have become opportunities for Pakistani businesses to enhance their exports to Qatar as Qatari businesses seek new partners and adjust their supply chains to the new realities in the region.
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