Pakistan ready to enhance economic cooperation with Bahrain, says PM during visit to kingdom – Pakistan
Prime Minister Shehbaz Sharif said on Thursday that Pakistan was “ready to enhance economic cooperation” with Bahrain in various fields, including agriculture, information technology and artificial intelligence.
He made the remarks while addressing the business community in Manama. The premier had arrived in the country’s capital a day earlier and held delegation-level talks with Bahrain’s leadership at Al Qudaibiya Palace.
In his address, PM Shehbaz said that strategic cooperation had existed between the two countries for decades.
Addressing Bahrain’s King Hamad bin Isa Al Khalifa and Crown Prince Salman bin Hamad Al Khalifa, he said: “Pakistan is ready to enhance economic cooperation with Bahrain in the fields of agriculture, information technology, artificial intelligence, financial technology and all other areas where our two countries can really work together, and create synergy through our efforts and our knowledge and our experience and our commitment to support each other.”
He said ties between Islamabad and Manama were based on cultural, religious, mutual respect and trust. These “are the pillars of our relations”, he added.
He termed his recent meetings with Bahrain’s leadership “extremely productive”.
“I am not a visitor here. I have come here to meet my family members, our Bahraini brothers and sisters,” he said.
“This is what our relationship is all about. Now we have to convert these wonderful relations into economic cooperation,” he added.
The premier highlighted that Pakistan possessed a “great youth bulge”.
“Sixty per cent of our population comprises young boys and girls within the [age] bracket of 15 to 30 years,” he said.
He added that the country was “committed” to converting this challenge into an opportunity by empowering the youth and training them in the fields of information technology and artificial intelligence, along with providing vocational and skills training.
“Together with our Bahraini brothers, entrepreneurs, we will create a great momentum in this field,” he said.
“I think this is the time to really catch up because time and tide wait for none,” PM Shehbaz stressed.
He also talked about the Pakistani community in Bahrain. The premier added that in every country he visited, he interacted with Pakistani communities and listened to the “stories of men and women whose love for Pakistan has never faded, even as they have dedicated their talent, loyalty and hard work to the progress of other nations and cultures”.
“The more I learn of these journeys, the more convinced I become that the Pakistani identity is not bound by geography. It is in the hearts of our people wherever they may be. Here in Bahrain, that spirit is visible beyond any ray of doubt,” he emphasised.
PM Shehbaz appreciated the Pakistanis living in Bahrain for their services to both countries.
“You are great ambassadors of Pakistan, and we are very proud of your contribution to Pakistan’s national economic development,” he said.
“Your hard-earned money, valuable remittances amounting to $484 million in the last financial year, is indeed highly appreciated.”
He also expressed gratitude to the Bahraini leadership for its love, affection, and support for the Pakistani diaspora.
PM Shehbaz added that Islamabad offered scale, talent, resources and a growing consumer market that was “strategically located, connecting to the wider region”.
“Combined with Bahrain’s financial expertise, business acumen and global outlook, the potential is huge and enormous,” he said, adding that Pakistan was undergoing a structural transformation, embodying economic reforms, digital modernisation and a decisive push for a private sector-led growth.
“We have cut red tape forever, strengthened our regulations and opened new sectors such as agri-business, information technology, minerals, energy and tourism for long-term partnership,” he highlighted. He added that Pakistan wanted to work with Bahrain and learn from its experience and expertise.
He further mentioned that the Gulf Cooperation Council Free Trade Agreement (GCC FTA) had been “nearly finalised and is expected to be signed soon”.
“This will enhance trade between Pakistan and the GCC countries, particularly with Bahrain,” he said. The premier ended his address by encouraging Bahraini investors interested in collaborating with Pakistan to “let this moment be your launching pad for a bold and meaningful collaboration”.
Dar meets Bahrain’s finance minister, discusses economic cooperation
Earlier today, Deputy Prime Minister and Foreign Minister Ishaq Dar, who is accompanying the premier on his visit, met Bahrain’s Finance Minister Sheikh Salman bin Khalifa Al Khalifa.
In a press release, the Foreign Office said that the two ministers had a “fruitful discussion” that focused on enhancing cooperation in the finance sector.
“Bahrain has made significant progress in fintech and offered to share its expertise with the Pakistani banking sector,” the FO said.
It said that the two ministers discussed avenues of cooperation between the central banks of the two countries.
“The two sides further decided to establish teams of relevant officials to chalk out a roadmap for future collaboration in the fields of finance, banking, commerce and economy,” the FO added.
