Qatar places Pakistan among preferred future trade partners

ISLAMABAD: Qatar desires to have close economic partnership with Pakistan so that the two countries could cooperate and have joint ventures in food processing, petrochemicals and other sectors, its commerce minister said on Thursday.

“Qatar has prioritised six countries to have economic partnership and Pakistan is one of them,” Sheikh Ahmed Bin Jassim Bin Mohammed Al Thani, Qatar’s minister of economy and commerce, said while addressing Pakistan-Qatar Business Conference in the federal capital. The Qatari minister is visiting Pakistan along with a ‘high-powered’ business delegation to explore opportunities in various sectors. Misbahur Rehman, the caretaker minister for commerce and textile, said the long and historic relationship between the two countries should be translated into enhanced trade and evolved into a sustainable business and investment partnership.

“Pakistan’s exports to Qatar have jumped 75 percent in fiscal year 2017-18 but in terms of value, it’s an increase of only $37 million, whereas, due to import of LNG (liquefied natural gas), our trade deficit with Qatar has increased to $1.6 billion,” Rehman pointed out.

Inviting Qatar to invest in agriculture, food processing and petrochemical industry in Pakistan, Rehman said Doha could procure goods and services from Pakistan for the next FIFA World Cup 2022 to be played in the Arab country.

“As Qatar is preparing to host FIFA World Cup 2022, substantial scope exists for procurement of goods and services from Pakistan,” Rehman said.

The Qatri delegation comprising 35 businessmen and 15 officials, representing food, agriculture, livestock, aviation, maritime, and shipping sector along with ambassador of Qatar and other diplomats, attended the session. Over 150 businessmen and officials from Ministry of Commerce, Trade Development Authority of Pakistan, Pakistan Horticulture Development and Export Company, and Board of Investment represented Pakistan in the moot.