(MENAFN- Khaleej Times) Pakistan seeks UAE and Gulf investments in mega projects especially in the energy and agro-based industries, said Federal Minister of Commerce and Textiles Maqbool H. H. Rahimtoola said.
Presenting the country's potential for investment in key sectors at the Annual Investment Meeting (AIM), he said vast opportunities exist for regional and international investors and the government will facilitate them on priority basis.
He said discussions and meetings with government and private levels are being held on the sidelines of AIM and positive developments are expected especially on energy and agriculture projects.
"We have very fruitful meeting with UAE Economy Minister Sultan bin Saeed Al Mansouri. We discussed matter of mutual interests to further strengthen our bilateral economic and trade relations," Rahmatoola, who is leading Pakistan delegation at AIM, told Khaleej Times.
He said Pakistan offers investment opportunities in coal-powered power plants to resolve the energy crisis in the country.
To a question, he said Pakistan is seeking UAE's multiple visa facility for business community. He said there is wide scope to boost exports of meat and poultry products to the UAE.
To a question, Rahmatoola said Pakistan has potential to become a 'food basket' for Gulf States due to its strong agriculture base.
"The GCC states have invited Pakistan to set up 'food storage facility' in Oman. The proposed facility will maintain strategic 'food reserves of wheat, rice and other grains' for consumption in the region," he said, and adding that Pakistan delegation will soon visit Oman to make further progress on this project.
The minister also held meetings with first deputy prime minister of Kosovo Belgiet Pacolli and trade and commerce ministers of Oman, Sri Lanka, Sudan, Brazil and Indonesia to discuss the trade and investment opportunities in the country.
Rahmatoola said Pakistan offers conducive investment policies and the investors should avail this opportunity to invest in various key sectors including oil and gas, agriculture, livestocks and poultry.
The World Bank, he said, has ranked Pakistan No.3 in South Asia in comparison to other countries including India, Sri Lanka, and Bangladesh in "ease of doing business".
"This higher ranking indicate better and stronger regulation for business and better protection of property rights and it also highlights Pakistan's openness for trade and investment," he added.
"We attracted over half a billion dollars foreign direct investment in oil and gas exploration and financial sectors during first half of financial year 2012-13.
Chairman Sindh Board of Investment Zubair Motiwala while making the country presentation said that Pakistan offers the most liberal and consistent investment policies in the region.
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