Pakistan and Bahrain have signed MoU to promote bilateral businesses, will focus on sectors like healthcare and education, tourism, logistics, manufacturing, financial services, information/communication technology, and vocational training.
On Thursday, Pakistan, and Bahrain signed the memorandum of understanding in order to promote businesses between the two countries by working jointly towards economic growth and greater business harmony.
The Board of Investment (BoI) and the Bahraini Economic Development Board signed the MoU at the end of the second session of the Joint Ministerial Commission’s meeting in Manama.
Chief Executive Officer of Bahrain Economic Development Khalid Ebrahim Humaidan and BoI Director General Jamil Ahmed Qureshi signed the memorandum on behalf of their respective governments.
According to details announced by the Board of Investment on Thursday, the MoU will remain enforced for two years with the option to be renewed subject to mutual approval by both parties.
The sectors specifically aim to focus in the MoU include manufacturing, tourism, logistics, information and communication technology, financial services, healthcare and education and vocational training.
The foreign ministers of Pakistan and Bahrain led their respective delegations at the joint ministerial commission’s meeting. Both sides highlighted the importance of regular meetings of established bilateral mechanisms and high-level bilateral visits.
While discussing regarding the economic cooperation, the countries recognized great potential for further developing sectors of mutual interest with special focus on promoting trade and business development.
Consensus to invite each other to participate in relevant activities related to the MoU was also reached during the meeting that includes conferences, symposiums, road shows, workshops, discussion courses, forums, exhibitions and business delegations, was also reached during the meeting.
Both countries agreed to develop cooperation between the various textile associations of the two countries and also welcomed cooperation at the parliamentary level.