ISLAMABAD - Islamabad Chamber of Commerce and Industry (ICCI) has 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.
ICCI and Bahrain Chamber of Commerce and Industry have signed the Memorandum of understanding (MoU) for enhancing the business-to-business relations and trade volume between the both countries, ICCI Senior Vice President Khalid Malik said. He said that Bahrain had important geographical location. He said the Gulf Cooperation Council (GCC), comprises six countries including Saudi Arabia, Bahrain, Oman, Qatar, Kuwait and the United Arab Emirates, is full of energy resources and petroleum products.
Replying to a question, he said that GCC countries had huge potential to emerge as a new economic block and would play vital role in regional and global trade. He said that initial frame work on Free Trade Agreement (FTA) with Pakistan and GCC country was completed and in coming months it would be finalised. He said that the conference was a landmark for enhancing confidence of the business community from both countries. 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 China Pakistan Economic Corridor (CPEC).