ISLAMABAD, March 13: The visiting Belgian trade delegation has shown its interest in investing in various fields, including telecom, pharmaceutical, container terminal and insurance sectors, to enhance cooperation and trade between two countries.

The delegation led by Ms Silvana Flagothier, inspector general, Belgian Walloon Export Agency, held a meeting here with Privatization and Investment Minister Dr Abdul Hafeez Shaikh on Saturday.

The leader of the Belgian trade delegation said that the accompanying top management members from 18 Belgian companies were exploring investment opportunities for well-balanced trade between the two countries. Belgium provided a large market for Pakistani products, which was evident from the increase in exports from Pakistan, she added.

The delegation has signed a project with the Lahore city government for waste management to be completed in the next 12 months, while another deal has also been signed for producing pharmaceutical products in Pakistan.

Dr Hafeez said that efforts were being made to bring in quality players from the private sector for economic growth and efficient services. Over 600 multinational companies were operating in Pakistan and new collaborations were emerging between the public and private sectors, which indicated that it was a good time for investors to come forward and invest in Pakistan as there was no restriction on the quantum of equity, joint ventures with local partners, taking out dividends or capital, he added.

He further said that government's commitment to the market economy and recent Saarc trade agreement, preferential trade agreements with Iran and interaction with ECO countries were encouraging signs as regard to the foreign investment and foreign investors' confidence in the economic policies of Pakistan.

Mr Shaikh informed the Belgian trade team that Pakistan Telecommunication Company Limited was being restructured and there was a possibility that U-fone, a public sector cellular company, will soon be privatized. At present three private cellular companies were operating in Pakistan, while enthusiastic response had been witnessed with 33 EoIs for new cellular licenses, he added.