FPCCI hails Qatar Emir’s visit

KARACHI: The recent visit of Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani will go a long way in promotion of bilateral trade and economic relations between Pakistan and Qatar. This was stated by Daroo Khan Achakzai, president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in a statement.

The visit would open new opportunities for enhancing bilateral trade and economic cooperation, he said, adding that the economic partnership between Pakistan and Qatar was expanding with the passage of time and had reached $9 billion, including $3 billion cash deposited in the State Bank of Pakistan, $3 billion as foreign direct investment (FDI) and $3 billion for other projects, which will help Pakistan bring out of the economic crisis.

Commenting on trade relations, Achakzai said, at present, the volume of bilateral trade between the two countries stood at $2.4 billion, which is in favour of Qatar due to LNG import in large volumes during the last two years.

Pakistan has considered Qatar as one of its major export destinations and lucrative market where the volume of traditional exports such as textiles, fruits, carpets, footwear, sports good, leather, furniture, especially surgical instruments can be increased by aggressive marketing and close interaction of the business community and the private sector, the FPCCI president said.