ISLAMABAD, Sept 20: Pakistan and Algeria on Tuesday finalized a string of measures at the conclusion of a two-day Joint Ministerial Commission (JMC) for increasing cooperation in various fields and enhancing bilateral trade.
Petroleum and Natural Resources Minister Amanullah Khan Jadoon and Algerian Minister for Small and Medium Enterprises and Handicrafts Mustafa Benbada headed the delegation of their respective countries at the JMC.
A senior official told Dawn that Pakistan had proposed the establishment of a joint investment company (JIC). He said both the sides agreed to exchange a list of specific items of import and export so that the volume of trade could be further expanded.
Both the sides noted with satisfaction the opening of negotiations between experts of the two countries on the proposed draft agreement on trade.
It has also been agreed to organize single-country exhibitions of Pakistani products in Algeria and Algerian products in Pakistan. Both the sides observed that the volume of trade exchanges did not reflect the real potential of the two economies and expressed their hope that the first JMC would lead to tangible and mutually beneficial results.
The official said the two sides agreed to organize seminars on their economies in each other’s country. It was also agreed to encourage their business communities and companies to interact with each other and invited them to participate in international trade fairs and exhibitions to be held in the two countries.
Both the sides expressed their interest in developing cooperation in the fields of energy, petroleum, mines and natural resources. In this regard, they also agreed to identify areas of mutual collaboration for formulating proposals and projects for execution through meetings and exchange of experts’ visits to each other’s country.
It was also agreed to consider investment in the establishment of cold chain and food grains storage facilities as well as setting up of agro-based industries in horticulture and livestock production and processing. The two countries expressed their desire to cooperate in the field of roads and highways development and construction.
The two sides have studied the possibilities of cooperation and exchange of experiences in the field of information technology and agreed to continue their consultations in order to identify projects that could be commonly achieved, notably in the field of research and software development.
They also agreed to encourage the development of bilateral cooperation, especially in textiles, electric, electronic and engineering industries, through direct contacts and business relations between industrial operations of the two countries.
It was also agreed to encourage cooperation in the railway sector and consented to exchange delegation to study the available opportunities in this field for mutual benefit.
