Pakistan Belarus Investment Forum held today at Serena Hotel Islamabad, on the occasion of the visit of Belarusian President to Pakistan. The president of Belarus Mr. Alexander Lukashenko and Prime Minister of Pakistan Mian Muhammad Nawaz Sharif graced the occasion.
The Belarus delegation was led by Mr. Vladimir Semashko, Deputy Prime Minister of the Republic of Belarus alongwith 54 businessmen representing major Belarusian companies in the sectors of Machine-building industry, Automotive components, Chemical Industry, Petrochemicals and Footwear etc.
The event was attended by a significant number of private sector businessmen representing Agriculture, Dairy, Tractor, Pharma, Textile, Fertilizer, and Automotive, machinery, footwear and Chemicals sectors. During the forum a B2B meetings were arranged which provided a win-win opportunity to Pakistani and Belarusian enterprises and organizations to establish business contacts and explore the possibilities of joint ventures, promote investment & trade activities in Pakistan.
The Chairman BOI, Dr. Miftah Ismail while inaugurating the event, reiterated the friendly relations between the two countries due to farsighted vision and a penchant for diplomacy of our two leaders President Lukashenko and Prime Minister of Pakistan Mian Muhammad Nawaz Sharif. He said that Pakistan is blessed with enviable natural and human resource of 200 million people with 100 million of middle class making Pakistan fifth largest in the world. He said that since the Prime Minister has taken over the stewardship of our nation, our economy has been going on the right path and making progress. From interest rates to budget deficits, and from inflation rates to per capita GDP almost every single economic indicator is moving in the right direction and these efforts are now being recognized both domestically and internationally. Similarly the recent spate of international investments in Pakistan, specifically an investment of about Euro 500 million by a Dutch company in the dairy sector of Pakistan and the investment of over US $ 250 million by a Turkish company. Pakistan has recently launched a new auto policy with lucrative incentives / facilities for auto industry.
The Prime Minister of Pakistan addressed the forum by welcoming the honorable president of Belarus in Pakistan and informed that Pakistan has faced many challenges in the past that brought us almost to the brink of an economic milt down but over the last three years we managed to welcome these challenges and got back on the path of growth and economic progress. He highlighted China Pakistan Economic Corridor (CPEC) projects of US$ 46 billion and TAPI gas pipeline projects. These projects will provide business opportunities in Pakistan. He informed the forum about the liberal investment regime, independent Judiciary, continuity / consistency of policies and legal protection to foreign investors in Pakistan.
The Prime Minister said Belarus is an important country and Pakistan attaches high importance to its bilateral relations. We greatly value the visit by the President and his high powered delegation. The Prime Minister termed the talks “very productive” and said it focused on bilateral relations in all fields, particularly on trade, industry, agriculture, investment, culture, education and people-to-people contacts.
The President of Belarus Alexander Lukashenko thanked the Prime Minister for warm reception to him and his delegation by the government of Pakistan. The President of Belarus pointed that important agreements & MOUs have been inked between the two countries that would go a long way to bring the two countries closer in future. He also supported privatization and highlighted the free trade zone facilities available in Belarus. He suggested for direct flight connection between the two countries, formation of working group and implementation of agreements / MOUs. He said that both the countries have trade volume of one billion US$ during the last four years, which need to be enhanced in future. He invited delegations from different sectors in Pakistan to help and identify areas of common interest. At the end he invited Pakistani entrepreneurs to invest in different areas in Belarus.
Following 7 MOUS were signed during the investment forum between Pakistani & Belarusian companies.
1. Agreement between OJSC “BELAZ” – Management Company of Holding “BELAZ – HOLDING” and «Sindh Engro Coal Mining Company»
2. Contract between “Belshina” Joint Stock Company and «Shahzad Trade Links» (15 miln. EURO)
3. Contract between OJSC “Naftan” and company “SJI – Chemiplast LTD”
4. Contract between OJSC “Naftan” and company “Zuras Global FZC”
5. MoU between The Balarussian State Concern for Oil and Chemistry «Belneftekhim», and OJSC “Naftan” and company “SJI – Chemiplast LTD”
6. MoU between The Balarussian State Concern for Oil and Chemistry «Belneftekhim», and OJSC “Naftan” and “Zuras Global FZC”
7. Contract between Minsk Tractor Works OJSC and OMNI Group of companies
This forum provides an opportunity to the businessmen of both the countries to discuss trade and economic cooperation as well as the ways to expand cooperation and implement joint projects in the most promising areas. Pakistani companies are interested in establishing business ties with Belarusian companies in agriculture machinery like tractors, chemical, textile sectors, and industry (cotton, fabric and materials sales), mechanical engineering.
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