Qureshi, Spanish Minister discuss trade, economic cooperation

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Commends role of UNWTO in promoting tourism

Foreign Minister Makhdoom Shah Mahmood Qureshi called on Spanish Minister for Trade, Industry and Tourism Ms. María Reyes Maroto Illera and discussed means to enhance existing bilateral trade and economic cooperation.

The Foreign Minister expressed satisfaction on Spain being one of top trading partners of Pakistan with an annual bilateral trade of more than $1.3 billion, noting, however, that the volume of trade was below the potential of the two countries. Highlighting Pakistan as an attractive investment destination owing to its large consumer base of more than 220 million people, the Foreign Minister indicated a broad range of sectors for Spanish investments including housing and construction, pharmaceuticals, renewable energy, agriculture and sports goods.

Shah Mehmood Qureshi welcomed the recent entry of major Spanish textile groups in Pakistani market and hoped that more companies will take advantage of the investment friendly environment in Pakistan. Given the geostrategic location of Pakistan, the Foreign Minister underscored that Pakistan could be an economic hub and gateway to Central Asian states for re-export of Spanish goods.

Acknowledging Spain’s support for GSP Plus status in the EU, the Foreign Minister underlined the importance of continued support on this and other related matters.

Both sides agreed to transform the existing goodwill in political relations into enhanced economic cooperation for the benefit of the people of the two countries.

Meanwhile, Shah Mahmood Qureshi on Wednesday called on the Secretary General UNWTO, Zurab Pololikashvili and congratulated him on his re-election for the next four-year term, i.e. 2022-2025.

 

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