ISLAMABAD, March 5: Romania has agreed to increase existing production capacity of tractors manufactured in Pakistan.

This was stated by Mr Mihai Berinde, Secretary of State of Ministry of Industry and Resources, currently visiting Pakistan at the head of a 16-member business delegation to attend the Pakistan-Romania Joint Economic Commission.

He met Finance Minister Shaukat Aziz here on Tuesday and discussed with him economic ties between the two countries.

Romania has played an important role in developing Pakistan’s industrial sector, particularly the cement, oil refining and agricultural sectors.

He said that Pakistan and Romania could work together for the development of industrial sector, especially the small- and medium-sized enterprizes through financing of capital goods by the Exim Bank in Pakistan.

The development of oil and gas pipelines from Central Asian states through Afghanistan to South Asia were also discussed.

Shaukat Aziz sought Romanian assistance in manufacturing of agricultural machinery to increase farm production.

Referring to the historic relationship between the two countries, the finance minister said the existing level of cooperation between the two countries could increase if the Romania Exim Bank offered credit lines to its exporters for capital goods.

Aziz said that in order to improve the balance of trade, Pakistani entrepreneurs should access Romanian markets through their participation in trade fairs.

It was agreed that the next meeting of Joint Commission would be held in Bucharest. Frequent exchanges of businessmen between the two countries will also be encouraged.

The Romanian Secretary of State extended an invitation to Shaukat Aziz for an official visit to Romania. Aziz agreed to visit on a mutually convenient date.

Romania also offered Pakistani businessmen to take advantage of its geographical position as a gateway to Europe for export of Pakistani products to the EU.