Prime Minister Muhammad Shehbaz Sharif today revealed that a landmark Pakistan-GCC Free Trade Agreement is set to be signed “very soon,” a development anticipated to significantly bolster trade between Pakistan and Gulf states, particularly Bahrain.
Addressing the business community in Manama on Thursday, the Prime Minister extended a formal invitation to Bahrain”s leadership and business sector to invest in Pakistan, assuring them of his government”s full support for joint ventures and investment initiatives.
Sharif specifically pinpointed industry, agriculture, information technology, and the financial technology (Fintech) sectors as key areas ripe for collaborative efforts to invigorate Pakistan”s economy.
He underscored that while Pakistan and Bahrain share decades-old strategic and brotherly relations founded on mutual culture, religion, and trust, the current focus must be on transforming this bond into more dynamic economic cooperation.
The Prime Minister reiterated Pakistan”s readiness to deepen economic ties with Bahrain across all domains of mutual interest, specifically mentioning agriculture, IT, Artificial Intelligence (AI), and Fintech as priority areas for collaboration.
In his welcoming remarks, Bahrain”s Minister for Finance and National Economy, Shaikh Salman Bin Khalifa Al Khalifa, noted that the entire region is undergoing a “generational transformation” into a hub for innovation, sustainability, and technological advancement.
The Bahraini minister reciprocated the investment call, presenting significant opportunities for Pakistani business and technology firms in Bahrain”s emerging high-tech sectors, including artificial intelligence, cybersecurity, metals, automotive components, and electronics.
During his address, Prime Minister Sharif also saluted the contributions of the Pakistani diaspora in Bahrain, commending their dedication to the development of both nations and highlighting the commendable $484 million in remittances they sent during the last financial year.
The Prime Minister concluded his two-day visit by expressing profound gratitude to the leadership of Bahrain, including King Hamad bin Isa Al-Khalifa, for their warm hospitality and for what he described as “extremely productive” meetings.