Pakistan, Bahrain move to boost trade and investment

Pakistan and Bahrain have agreed to establish a joint working group on trade and investment and work towards finalising the GCC-Pakistan Free Trade Agreement, Bahrain’s Foreign Minister Dr Abdullatif bin Rashid Al Zayani.

The understanding was reached during the third session of the Pakistan-Bahrain Joint Ministerial Commission (JMC) in Islamabad, co-chaired by Al Zayani and Deputy Prime Minister and Foreign Minister Ishaq Dar.

The two sides signed agreed minutes covering more than 15 areas of cooperation, including trade, investment, energy, food security, information technology, law enforcement, labour mobility, health, education, culture and sports.

Al Zayani said Bahrain would use its presidency of the Gulf Cooperation Council (GCC) to help accelerate the free trade agreement. The two countries also set a target of doubling bilateral trade over the next three years.

The Bahraini foreign minister described bilateral relations as strong and said both sides were seeking greater practical results from their cooperation. Dar termed the JMC “comprehensive and productive”, highlighting opportunities in agriculture, energy, tourism and business-to-business engagement.

The ministers also discussed regional developments, including the US-Iran crisis, and called for restraint, de-escalation, dialogue and diplomacy. They stressed the importance of safe navigation through the Strait of Hormuz and Bab al-Mandeb.