Prudent foreign policy can address Pakistan’s economic challenges: Bilawal

LAHORE: Foreign Minister Bilawal Bhutto Zardari has said that a prudent foreign policy could address Pakistan’s economic challenges.

Addressing dinner hosted by the Lahore Chamber of Commerce and Industry as the chief guest, the foreign minister said he had given a message to the world that Pakistan wanted trade, not aid.

“The Foreign Office has a strong focus on resolving critical issues such as FATF and GSP Plus status for Pakistan. I have visited China, the US and other countries and also talked to representatives of Central Asian countries and they had a positive impression about Pakistan,” he added.

Bilawal Bhutto said that economic diplomacy is a must for economic stability and the role of the Foreign Office in this regard is commendable. He congratulated the Lahore Chamber of Commerce and Industry for completing its 100 years and also for arranging the dinner for diplomats. He said that the Ministry of Foreign Affairs would continue to provide all possible assistance for the promotion of trade and export-led growth. This, he maintained, is in line with our economic diplomacy goals driven by focus on geo-economics.

Forty-one ambassadors and high commissioners also attended the dinner. Ambassador of Yemen Mr Mohammed Motahar Al-Shabi represented the Dean of Diplomatic Corp at the dinner, which was attended by 300 top businessmen.

In his address, LCCI President Mian Nauman Kabir informed the gathering that the chamber had completed a century of its establishment in 2022 and he had the honour of becoming its 100th president. He said the Pakistani nation had made tremendous sacrifices in the war on terrorism. “Pakistan has played a key role in the economic reconstruction of Afghanistan and development of the United Arab Emirates. Pakistan‘s strategic location requires that it is taken on board in important regional and global matters. It can be a good player in the global and regional supply chain in the larger interest of the multilateral trade system. Pakistan’s demographic divide with a 230 million population needs to be tapped. Pakistan is a big source of young skilled and semi-skilled entrepreneurs in all sectors,” he added.

He said that Pakistan’s economy was not only about textiles. “We have a very vibrant Information Technology sector with quality human resources. The foreign diplomatic community present here today can play a vital role in bringing foreign direct investment in the IT sector in Pakistan for setting up new technology zones,” he added and requested the diplomats to convince their respective governments to initiate special programmes for the skill development and placement of IT graduates and engineers of Pakistan in their tech industries.

“Similarly, you can play an important role in bringing investors from your country for facilitating joint ventures (JVs) in other vibrant sectors of our economy like pharmaceuticals, processed food (especially Halal food), tourism, renewable energy and manufacturing of solar panels, electric vehicles and mobile devices,” he added.

He said that Pakistani fruits were not all about mangoes. “We produce diverse fruits like apricots, almonds, grapes, guava, banana, berries, citrus etc.