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Mr Qureshi, who was accompanied in his visit by a number of ministers and a large delegation of businessmen, reiterated an invitation from President Asif Ali Zardari and Prime Minister Yousuf Raza Gilani to the Egyptian leader to visit Pakistan.
Mr Mubarak recalled his meeting with Prime Minister Gilani in Sharm Al Sheikh last year and agreed that the frequency of contacts at the highest level should be increased to strengthen bilateral relations.
The president discussed developments in Iraq, Iran, Afghanistan and concerning the Middle East peace process and agreed that an amicable settlement of the Iranian nuclear issue would be in the interest of peace and stability in the region.
The foreign minister briefed the Egyptian president on the progress made in the third meeting of the Joint Ministerial Commission of the two countries and said that a decision had been reached to convert the existing goodwill into a strong economic interaction.
Talking to journalists at the presidency, Mr Qureshi said 21 areas had been identified for enhancing cooperation.
He said he had a positive, result-oriented and intensive interaction with the Egyptian business community.
He expressed confidence that his visit would lead to enhanced cooperation in investment and trade sectors.
About his talks with Egyptian Foreign Minister Ahmed Abul Gheit held on Saturday, Mr Qureshi told the Mena news agency that the two sides had agreed to set up a ministerial committee to oversee bilateral trade. He said the committee would meet biennially.
He said both countries would also hold political consultations once a year.
The talks focused on “exploring new trade opportunities between the two countries, including exporting Pakistani wheat as well as medical and surgical equipment to Egypt”, Mena said.
The two sides also looked into exporting Egyptian goods, including fertiliser, to Pakistan, it said. The annual volume of trade between Pakistan and Egypt is $4 million.
According to a press release issued in Islamabad, the areas in which cooperation will be enhanced include economic and commercial relations, investment opportunities, public and civil services, health, agriculture and postal sectors.
The two sides also agreed to enhance cooperation in the alternative energy sector, particularly wind power generation.
The foreign ministers signed a memorandum of understanding between the Pakistan Foreign Services Academy and the Egyptian Institute for Diplomatic Studies.
Pakistan's Ambassador Seema Naqvi and Egyptian Assistant Foreign Minister for Asian Affairs Ahmed Fathallah signed the second executive programme for cooperation in science and technology.
The foreign ministers also discussed the situation in Sudan, Pakistan-India thaw and the Nile Basin Initiative.
The next session of the Joint Ministerial Commission will be held in Islamabad. —AFP/APP
