Foreign investment increasing due to govt's policies: PM Shehbaz

ISLAMABAD: Prime Minister Shehbaz Sharif directed to devise a comprehensive strategy to strengthen cooperation and trade partnership with Azerbaijan in the fields of economy and investment.

“Pakistan geographically offers a natural economic corridor to the sea for Central Asian states,” the prime minister said while chairing a high-level meeting on strengthening ties with Central Asian governments, especially Azerbaijan, in the sectors of commerce and investment.

He said that Pakistan offers a natural economic corridor through Sea waters for Central Asian states. He said that Pakistan and Azerbaijan have longstanding fraternal ties spanning decades.

PM Shehbaz said that foreign investment is increasing in the country due to the business and investment-friendly policies of the government.

PM Shehbaz directed the development of a comprehensive action plan to boost trade efficiency and expand current trade between the two countries.

During the meeting, the prime minister was briefed on initiatives aimed at enhancing trade volume, capacity, and trade and investment between Pakistan and Azerbaijan.

It was highlighted during the briefing that there was substantial potential for energy cooperation with Azerbaijan, and discussions were ongoing for a preferential trade agreement between both countries.

Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, along with Minister for Planning and Development & Special Initiatives Ahsan Iqbal, Federal Minister for Industries and Production Rana Tanveer Hussain, Federal Minister for Privatization and Investment Abdul Aleem Khan, Federal Minister for Power Sardar Owais Khan Leghari, Federal Minister for Petroleum Dr. Musadik Malik, Federal Minister for Commerce Jam Kamal Khan, Special Assistant to PM Tariq Fatemi, and other senior officials attended the meeting.

Earlier on Wednesday, PM Shehbaz Sharif gave the green light to the joint ventures between Chinese and Pakistani companies for relocating the Chinese industries to Pakistan.

Chairing a meeting to discuss the matters of the Board of Investment (BoI), he said that promoting both local and foreign investment in Pakistan was among the government’s priorities.

He said the government was taking all possible steps to create a business-friendly environment for traders and investors. The prime minister directed the concerned to submit a comprehensive report on the follow up of Memorandum of Understanding (MoUs) signed between Pakistani and Chinese companies in Shenzhen during his recent visit to China.