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Satyendra Pathak
Doha
The trade volume between Qatar and Pakistan has jumped more than 300 percent to almost $1 billion after the two countries signed multi-billion dollar liquefied natural gas (LNG) deal in the beginning of 2016, a senior official of Pakistan's embassy in Qatar has said.
Arbab Qaisar, commercial attach` at the Pakistan embassy in Qatar, told Qatar Tribune that the trade volume between the two countries jumped from $300 million in 2015 to $700 million in 2016 after Pakistan started importing LNG from Qatar as part of the agreement.
Qaisar said the trade volume between the two countries is on its way to cross $1 billion in 2017 as Pakistan will see first full year of LNG import from Qatar this year.
The $16 billion sale and purchase agreement between Pakistan and Qatar for 16 years means that Pakistan would import LNG worth $1 billion every year to meet its domestic energy requirements, the official said.
Qaisar said that new LNG agreements between the countries in the coming times would further boost the trade volume.
The bilateral trade between the two countries, he said, is currently heavily in favour of Qatar as the import of LNG by Pakistan constitutes a major part of the total trade volume.
To achieve trade balance, Qaisar said Pakistan is looking to increase its export of agriculture and textile products to Qatar in a big way.
In a bid to facilitate trade between private sectors of the two countries, he said, Pakistan-Qatar Business Council would be set up soon.
"We have been working to activate the business council for a long time. Talks in this regard seem to have reached a final conclusion during the recent visit of Pakistan's Minister for Commerce Khurram Dastgir Khan to Qatar," he said. Once the Qatar-Pakistan Business Council is active, he said, the trade ties between the private sectors of two countries would get a major boost.
The council will be vital in enhancing trade links and resolving issues affecting bilateral trade between the two countries, he said.
Terming the recent visit of Pakistan's commerce minister to Qatar as highly successful, he said,"The two countries discussed various issues to enhance trade ties and mainly focused on regular exchange of business delegations.
The minister highlighted a number of promising projects where Qatari businessmen could invest in and yield good returns in the long term. The minister also urged the Qatari side to resolve the issue of lifting of ban on Pakistani rice through tenders floated by Qatar government."
"There are many sectors like information technology (IT), food processing, infrastructure, telecom, health, education and so on that require foreign investment," he said.
With the improved security situation and China-Pakistan Economic Corridor (CPEC) projects, Qaisar said, Pakistan provides excellent opportunities for business and investment.
"Qatari investors should make use of the investment opportunities in Pakistan," he said.
