Offering her complete support for a Free Trade Agreement (FTA) with the six-member Gulf Cooperation Council (GCC), Bahrain has asked Pakistani businesses to use her seaport for a swift two hour container clearance as well fast transfer of export goods to Saudi Arabia, as well as other neighbouring Gulf states.
Speaking at the second Pakistan Bahrain Business Opportunities conference here on Thursday, second conference in six months, Bahrain Minister of Industries and Trade Zayed R Alzayani said that Bahrain is coming at a very important time in Pakistan when the country is again achieving stability.
Sharing a personal story, Zahyani said he had very recently tasted Pakistani rice in Dubai. To his surprise, he was told by someone that 40 years back all the rice sold in GCC region was Pakistani and were imported through Bahrain.
Somehow this link vanished as logistics became less competitive in Bahrain. But now containers on Bahrain’s port are cleared in two hours and delivered to GCC member states on the same day. He invited Pakistani businessmen to revive their rice legacy.
He said Bahrain is looking for joint ventures in financial sector, logistics, tourism and manufacturing. He said Pakistani businesses could use Bahrain as a gateway to GCC as well as to the Arab world.
Speaking on the occasion, Commerce Minister Khurram Dastagir said that the draft framework of FTA is shared with GCC and hopefully the final agreement will be signed by this year’s end. He said there were ample opportunities to export rice, meat, vegetables and fruits to Bahrain.
He said there were no tariff or non tariff barriers in Bahrain. Both the countries have cordial bilateral relations and Pakistani businesses should venture to establish joint ventures. He said first Pakistan Festival will be held this October in Bahrain.
