https://arab.news/mwh6g
- Pakistan’s Commerce Minister Jam Kamal Khan meets Qatari counterpart at sixth Joint Ministerial Commission session
- Qatar, Pakistan agree to enhance cooperation in road, railways, aviation, health, media digital economy and IT sectors
ISLAMABAD: Pakistan and Qatar have signed a protocol that commits both nations to realize Doha’s $3 billion investment in Pakistan’s key sectors, the economic affairs ministry said in a statement on Thursday, amid Islamabad’s efforts to attract foreign funding to stabilize its economy.
The development took place during the sixth session of the two-day Pakistan-Qatar Joint Ministerial Commission (JMC) on economic, trade and technical cooperation between the two countries. The Qatari emir’s office said in 2022 that the Qatar Investment Authority aims to invest $3 billion in Pakistan to support the South Asian nation’s cash-strapped economy. Qatar’s investment will focus on Pakistan’s transport, civil aviation, education, health, culture, media, communications, information technology and labor sectors.
The agreement was signed between Pakistan’s Commerce Minister Jam Kamal Khan and his Qatari counterpart, Sheikh Faisal bin Thani bin Faisal Al Thani, during the JMC meeting, the economic affairs ministry said.
“In the realm of trade, economy and investment, the signed protocol commits both nations to realizing His Highness the Emir of Qatar’s vision of investing $3 billion in Pakistan through the Qatar Investment Authority or other investment vehicles,” the Pakistani ministry said.
Both sides agreed to enhance direct coordination between Pakistan’s Special Investment Facilitation Council— a government body formed in June 2023 to fast-track decisions related to international investment in Pakistan— and the Qatar Investment Authority, to create a more conducive environment for Qatari investors.
As per the signed protocol, Qatar will enhance cooperation in Pakistan’s public transport system including rail, bus and metro networks and support the adoption of electric vehicles in the country. Pakistan and Qatar’s aviation authorities will also meet early next year to further strengthen cooperation, it added.
The statement said the agreement also included a memorandum of understanding between Pakistan and Qatar’s education ministries to enhance technical skills development.
It highlighted the need to form a joint working committee to attract Pakistani medical professionals to Qatar’s Hamad Medical Corporation and promote the exchange of health expertise between the two countries.
“They also provide for exploring the mutual recognition of pharmaceuticals and medical instruments to facilitate market access,” the ministry said.
It also included news exchange agreements between state-run entities Qatar News Agency and the Associated Press of Pakistan for joint documentary and drama productions, along with cultural program exchanges with Pakistan Broadcasting Cooperation and Qatar Radio.
The agreement called for stronger cooperation in e-government, smart cities, digital economy and transformation in the communication and IT sector.
In the labor sector, it urged sending skilled Pakistani workers to Qatar and fast-tracking a new MoU on labor cooperation.
Pakistan shares cordial ties with Qatar rooted in economic cooperation, defense, shared values, faith and culture. Qatar hosts a large Pakistani workforce and this month facilitated dialogue that resulted in a ceasefire with Afghanistan after border skirmishes.