BUCHAREST – Foreign Minister Makhdoom Shah Mahmood Qureshi urged Romanian businesses and businessmen on Monday to take advantage of Pakistan’s vast trade and investment prospects.
The foreign minister, speaking at a joint press conference with his Romanian counterpart Bogdan Aurescu, said there was a huge potential for Romanian investors not only in promoting bilateral trade ties, but also in the prospects of Pakistan becoming a hub of exports to Central Asia as new markets were now being opened up to the world.
He said that Pakistan was constructing an economic corridor with China, and that the Gwadar Port would provide access to the world for the landlocked Central Asian Republics and Afghanistan.
Measures to promote commercial connections were discussed during Qureshi’s meetings with the Romanian leadership, he said.
He said the two countries had a lot of potential to improve their understanding since now was the appropriate moment to do it.
Despite the COVID problem, he noted, bilateral trade between the two nations expanded by roughly 50.6 percent in the previous fiscal year, according to his Romanian counterpart. However, he noted that it fell short of their true potential in terms of bilateral ties and economic opportunities with the European Union.
Pakistan, according to the foreign minister, is in a good situation. They believed that GSP+ designation was mutually beneficial for both the EU and Pakistan.
“Pakistan has been an important trading partner of the EU, and Pakistan has a strong connection with the EU and its members,” he added.
Memorandums of Understanding (MoUs) were signed to strengthen bilateral collaboration between commercial organisations and to provide educational scholarships to Pakistani students.
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Romanian Chamber of Commerce and Industry have signed a Memorandum of Understanding. Dr. Zafar Iqbal, Pakistan’s Ambassador to Romania, signed the agreement. The MoU was deemed crucial by both parties for the growth of bilateral trade and commerce.
A Memorandum of Understanding was signed by Bucharest Polytechnical University and the Romanian Foreign Ministry for the awarding of educational scholarships to Pakistani students. The MoU was signed by Ambassador Dr. Zafar Iqbal of Pakistan and University Rector Mihnea Cosmin Costoiu of Romania.
Qureshi stated that the signing of an agreement between the chambers of commerce of two countries would open new doors for the corporate and private sectors. The private sector has been and will continue to be a driving force in expanding Pakistan-Romania commercial ties.
Pakistan and Romania have had strong diplomatic ties for 58 years, according to the foreign minister, and have been supporting each other at international levels. “I’d like to point out that, in addition to our strong bilateral relations and mutual goodwill, we have frequent interactions. I’ve come here with the goal of ushering in a new era in our bilateral relations “He expressed hope that his visit will establish a new tone for bilateral relations in the new era.
The foreign minister also expressed optimism that the educational pact will help Pakistani students.
On behalf of Pakistan’s prime minister and people, he thanked the Romanian government and people for generously providing 5,000 doses of coronavirus to Pakistan.
