FM Qureshi encourages Egyptian businessmen to invest in Pakistan

Published February 17, 2021
Foreign Minister Shah Mahmood Qureshi (centre) gestures during a meeting with members of Egyptian business community. — Photo courtesy: APP screengrab
Foreign Minister Shah Mahmood Qureshi (centre) gestures during a meeting with members of Egyptian business community. — Photo courtesy: APP screengrab

Foreign Minister Shah Mahmood Qureshi urged Egyptian businessmen to invest in Pakistan by highlighting the incentives the government is offering to foreign investors in various sectors including housing, energy and health, Radio Pakistan reported on Wednesday.

During a meeting with a delegation of the Egyptian business community in Cairo, the foreign minister said improvement in Pakistan's ranking for ease of doing business reflected the confidence of investors and businessmen in the incumbent government's policies.

Qureshi stressed that the "brotherly relations" between Pakistan and Egypt could further improve through an increase in bilateral trade and economic partnership. He also assured the Egyptian business community that the government would take all necessary steps to assist them if they chose to invest in Pakistan.

According to Radio Pakistan, Egyptian business community expressed interest in investing in Pakistan. The chief executive officer of Elsewedy Electric company also met Qureshi and expressed an interest in investing in Pakistan.

During their meeting, the foreign minister said businesspersons from across the world were interested in investing in Pakistan as it was an emerging market and also because of the incumbent government's "prudent economic policies".

The foreign minister is on a two-day official visit to Egypt on the invitation of Egyptian FM Sameh Hassan Shoukry.

'From geo-politics to geo-economics'

Foreign Minister Qureshi also called on Egyptian President Abdel Fattah al-Sisi on Wednesday. He conveyed the warm greetings of Pakistan’s leadership to the Egyptian president and appreciated the stability and progress achieved by Egypt under Sisi's leadership, the Foreign Office said in a statement.

Qureshi briefed the Egyptian president on "Pakistan’s shifting focus from geo-politics to geo-economics", stressing that the vision of “Naya Pakistan” was predicated on economic connectivity and ensuring peace within and beyond Pakistan's borders, according to the FO.

Recalling the decades-old ties between the two countries, Foreign Minister Qureshi expressed Pakistan’s desire to further strengthen and diversify bilateral relations. He said his visit indicated Pakistan’s keenness to reinvigorate the traditional bilateral relationship rooted in shared faith, culture and values.

Expressing satisfaction at the growing bilateral defence ties, the foreign minister said the two countries could also share their experience in countering terrorism and extremism, the FO statement said.

Qureshi also briefed the president on the situation in Pakistan’s neighbourhood, in particular Islamabad’s efforts to facilitate the Afghan Peace Process, the ongoing human rights violations in Indian-occupied Kashmir, and the "continued denial of the Kashmiri people’s legitimate right to self-determination".

Stressing that Pakistan supported resolution of differences through dialogue and diplomacy, the foreign minister appreciated Egypt’s "recent efforts in the region", the press release added.

President Sisi welcomed the foreign minister and fondly recalled his recent interactions with Prime Minister Imran Khan. He expressed the hope that Qureshi's visit would pave the way for enhanced bilateral ties and dynamic multilateral cooperation.

During the meeting, the foreign minister extended an invitation to President Sisi on behalf of President Arif Alvi to visit Pakistan. While accepting the invite, Sisi promised to visit at the earliest opportunity, the FO said.

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