Pakistan, Egypt sign MoU to establish JWG on trade

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Staff Reporter
Islamabad Ministry of Commerce and Egyptian Commercial Service signed a Memorandum of Understanding (MOU) for establishment of Pakistan-Egypt Joint Working Group (JWG) on trade. First meeting of the JWG on Trade was held on the sidelines of the Pakistan-Egypt Trade Conference organised by Ministry of Commerce and Textile here. It was the first of a series of such conferences planned with African countries under the ‘Look Africa Policy’ Initiative of Ministry of Commerce, said a statement. A high-level delegation comprising officials and businessmen from Egypt, led by First Undersecretary of Egyptian Commercial Service and Ministry of Trade and Industry Ahmed Anter, visited Islamabad to attend the conference. Talking to the Egyptian delegation, Adviser to the Prime Minister on Commerce, Textile, Industries and Production and Investment Abdul Razak Dawood, appreciated the warm, historic and brotherly relations between the two countries and expressed the desire to make the trade relations commensurate with the political relations. The adviser emphasized the export potential of Pakistan in sectors like engineering goods, rice, agro-processed products, surgical, pharmaceutical and sports goods. He also highlighted the investment opportunities available in Pakistan especially in engineering sector. The Pakistani delegation was headed by Secretary Commerce, Sardar Ahmed Nawaz Sukhera, and the Egyptian side was led by their First Undersecretary, Ahmed Anter. During the meeting of the JWG on Trade, both sides emphasized on the relative importance of Pakistani-Egyptian Trade and Economic relations and on the importance of enhancing the current Trade volume to reflect the untapped trade and economic potential between both countries. Both sides agreed to enhance trade in key sectors including Agricultural Products, Engineering industries (Electrical apparatuses and Power appliances), Construction and Building materials, Fertilizers and Chemicals, Textiles and leather products, Medical and surgical instruments and Pharmaceuticals was reached. Both sides also agreed to enhance the trade promotional efforts by signing an MoU between Trade Development of Pakistan (TDAP) and Egyptian Commercial Service, organization of a Single Country Exhibition in Cairo/Karachi and frequent exchange of delegations and participation in each other’s international trade fairs. Meetings were arranged between the Egyptian businessmen of Pharmaceutical, Power, Fertilizer, Tourism, Construction, Shipping and bed linen sectors with Pakistani businessmen of same sectors.