Islamabad Chamber of Commerce and Industry (ICCI) Friday lauded the Pakistan-Bahrain Business Opportunities Conference held here on March 30 and considered it a milestone in economic and trade relations between two countries.
Islamabad Chamber of Commerce and Industry (ICCI) and Bahrain Chamber of Commerce and Industry has signed the Memorandum of understanding(MoU) for enhancing the business to business relations and trade volume between both the countries, Senior Vice President Islamabad Chamber of Commerce and Industry (ICCI) Khalid Malik stated while talking to this news agency here.
He said that Bahrain had an important geographical location, situated as the gateway for six Gulf Cooperation Council (GCC) countries and also provides access to all countries.
He said the GCC were comprised of six countries including Saudi Arabia, Bahrain, Oman, Qatar, Kuwait and the United Arab Emirates, all of which have abundant energy resources and petroleum products.
Replying to a question, he said that GCC countries had a huge potential to emerge as the new economic block and would play the big role in regional and global trade.
Khalid said that the initial framework on Free Trade Agreement with Pakistan and GCC country was complete and it would soon be finalised.
He said that this conference was a landmark for enhancing the confidence of the business communities of both the countries. Khalid Malik said that Bahrain is an open country for trade and the current regime initiated economic reforms for trade liberalisation and oneness to the outer world.
Bahrain would provide a platform to Pakistan for improving trade relations with GCC states and also promote investment opportunities, he added.
He said that Pakistan and Bahrain would expand their economic partnership under the China-Pakistan Economic Corridor (CPEC), which would also play a pivotal role for regional connectivity. Khalid Malik said that Pakistan had a huge opportunity for exporting rice, fruit, vegetable and agro- processing to Bahrain for enhancing exports.
