Business

Pakistan, Belarus sign several agreements and MoUs

belarus

ISLAMABAD: Several important agreements and Memorandum of Understandings were inked between Pakistan and Belarus on Thursday.

President of Belarus Alexander Lukashenko said the agreements and MoUs signed between the countries would go a long way to bring both the countries closer in future.

He also supported privatization and highlighted the free trade zone facilities available in Belarus. He suggested for direct flight connection between the two countries, formation of working group and implementation of agreements / MOUs.

“Both the countries have trade volume of one billion US$ during the last four years, which needs to be enhanced in future,” he said while addressing Pakistan-Belarus Investment Forum in Islamabad.

Prime Minister Muhammad Nawaz Sharif, a Belarus delegation led by Deputy Prime Minister of the Republic of Belarus Vladimir Semashko along 54 businessmen representing major Belarusian companies in the sectors of machine-building industry, automotive components, chemical industry, petrochemicals and footwear attended the event.

While, a significant number of private sector Pakistani businessmen representing agriculture, dairy, tractor, pharma, textile, fertilizer, and automotive, machinery, footwear and chemicals sectors were also present on the occasion.

During the forum a B2B meetings were arranged which provided a win-win opportunity to Pakistani and Belarusian enterprises and organizations to establish business contacts and explore the possibilities of joint ventures, promote investment & trade activities in Pakistan.

The Belarusian president invited delegations from different sectors in Pakistan to help and identify areas of common interest. At the end he invited Pakistani entrepreneurs to invest in different areas in Belarus.

The premier of Pakistan informed that Pakistan has faced many challenges in the past that brought us almost to the brink of an economic meltdown but over the last three years we managed to welcome these challenges and got back on the path of growth and economic progress. He highlighted China Pakistan Economic Corridor (CPEC) projects of US$ 46 billion and TAPI gas pipeline projects. These projects will provide business opportunities in Pakistan.

He informed the forum about the liberal investment regime, independent Judiciary, continuity / consistency of policies and legal protection to foreign investors in Pakistan.

Nawaz Sharif said Belarus is an important country and Pakistan attaches high importance to its bilateral relations.

Following 7 MOUS were signed during the investment forum between Pakistani & Belarusian companies.

  1.  Agreement between OJSC ‘BELAZ’ – Management Company of Holding ‘BELAZ – HOLDING’ and Sindh Engro Coal Mining Company
  2. Contract between ‘Belshina’ Joint Stock Company and Shahzad Trade Links (15 million EURO)
  3. Contract between OJSC ‘Naftan’ and company ‘SJI – Chemiplast LTD’
  4. Contract between OJSC ‘Naftan’ and company ‘Zuras Global FZC’
  5. MoU between The Balarussian State Concern for Oil and Chemistry, and OJSC ‘Naftan’ and company ‘SJI – Chemiplast LTD’
  6. MoU between The Balarussian State Concern for Oil and Chemistry, and OJSC ‘Naftan’ and ‘Zuras Global FZC’
  7. Contract between Minsk Tractor Works OJSC and OMNI Group of companies

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