Pakistan’s exports to Qatar in 2020 “remained healthy,” and displayed the “best performance in the entire Middle East and North Africa (Mena) region” despite Covid-19, according to Pakistan’s ambassador to Qatar, Syed Ahsan Raza Shah.
“In recent years Pakistani businesses have availed of the significant opportunity to enhance their exports to Qatar as Qatari businesses sought new partners and adjusted their supply chains to the new realities in the region,” said Shah in a joint statement between the Embassy of Pakistan and entrepreneur/philanthropist Farhan al-Sayed.
According to Shah, trade relations between Pakistan and Qatar have witnessed an “over 40%” growth since 2018 mainly due to an increase in exports of Pakistani food items to Qatar.
“During the current financial year, total trade between Pakistan and Qatar remained at $1.47bn with a total of $150mn worth exports from Pakistan to Qatar and imports amounting to $1.32bn,” Shah said.
Al-Sayed said, “Qatar and Pakistan’s relations have prospered under the leadership of His Highness the Amir Sheikh Tamim bin Hamad al-Thani and Prime Minister Imran Khan, and strengthened by the exchange of visits by both heads of state. Also, Pakistan has shown and delivered unconditional support to Qatar during the blockade and the pandemic, which is very much appreciated.
“The relationship has also shown great potential for growth in both the hydrocarbon and non-hydrocarbon trade. The connectivity of Hamad Port with Karachi Port will bring mutual benefits to both countries, which will further enhance and flourish when connected to Gwadar Port in the near future. This will definitely solve a lot of supply chain issues in many ways.”
Shah said Pakistan has remained in a “unique position” in the region being a food-surplus country enjoying longstanding and close bilateral relations with Qatar. He said transit shipping time of just under four days puts Pakistan “at a competitive advantage vis-à-vis most other countries outside the GCC.”
“Besides food and related products, Pakistan also has much to offer to Qatar due to our large industrial manufacturing base that includes textiles, pharmaceuticals, and technology, including software development and electronics manufacturing, chemical manufacturing, and construction industry. Besides, with the large consumer base, Pakistan’s stock market and its hospitality and retail sectors, offer potential investors highly attractive returns,” the ambassador continued.
Al-Sayed said Qatari investments in Pakistan “are growing, which is a good sign of a stable government and encourages businessmen to invest in the South Asian nation.” Qatar Airways “is taking the lead” by growing its network in Pakistan, he said.
This was reiterated by Shah, who said: “Qatar Airways also continues to strengthen its air operations to Pakistan. A number of Qatari companies, including Qatar Petroleum, Pak-Qatar Takaful, and Al-Mirqab have made big investments in Pakistan. We appreciate the continued interest of investors from Qatar.”
The ambassador said Qatar’s strategic location in the GCC places it in a “unique position” to offer a second home to potential Pakistani investors because of low energy costs and a secure investment climate and regulatory environment. Pakistani investors can avail of many facilities on offer through Qatar Free Zones Authority (QFZA) and Qatar Financial Centre (QFC), he said.
Al-Sayed said Pakistan’s workforce has played a significant role in the development of 2022 FIFA World Cup-related construction work and infrastructure projects in line with Qatar National Vision 2030 because of the increase in the availability of work visas.
Shah said, “While Pakistan can offer its Qatari brothers and sisters a home-away-from-home, Qatar has also decided to open up to Pakistan. The visa-on-arrival facility has eliminated a significant trade barrier. Work visas for Pakistanis are now freely available.
“Due to encouragement by the Qatari authorities, we at the Embassy of Pakistan would continue to enhance trade promotion activities through better participation in trade exhibitions in Qatar as Covid-19 restrictions ease.”
Ends
“In recent years Pakistani businesses have availed of the significant opportunity to enhance their exports to Qatar as Qatari businesses sought new partners and adjusted their supply chains to the new realities in the region,” said Shah in a joint statement between the Embassy of Pakistan and entrepreneur/philanthropist Farhan al-Sayed.
According to Shah, trade relations between Pakistan and Qatar have witnessed an “over 40%” growth since 2018 mainly due to an increase in exports of Pakistani food items to Qatar.
“During the current financial year, total trade between Pakistan and Qatar remained at $1.47bn with a total of $150mn worth exports from Pakistan to Qatar and imports amounting to $1.32bn,” Shah said.
Al-Sayed said, “Qatar and Pakistan’s relations have prospered under the leadership of His Highness the Amir Sheikh Tamim bin Hamad al-Thani and Prime Minister Imran Khan, and strengthened by the exchange of visits by both heads of state. Also, Pakistan has shown and delivered unconditional support to Qatar during the blockade and the pandemic, which is very much appreciated.
“The relationship has also shown great potential for growth in both the hydrocarbon and non-hydrocarbon trade. The connectivity of Hamad Port with Karachi Port will bring mutual benefits to both countries, which will further enhance and flourish when connected to Gwadar Port in the near future. This will definitely solve a lot of supply chain issues in many ways.”
Shah said Pakistan has remained in a “unique position” in the region being a food-surplus country enjoying longstanding and close bilateral relations with Qatar. He said transit shipping time of just under four days puts Pakistan “at a competitive advantage vis-à-vis most other countries outside the GCC.”
“Besides food and related products, Pakistan also has much to offer to Qatar due to our large industrial manufacturing base that includes textiles, pharmaceuticals, and technology, including software development and electronics manufacturing, chemical manufacturing, and construction industry. Besides, with the large consumer base, Pakistan’s stock market and its hospitality and retail sectors, offer potential investors highly attractive returns,” the ambassador continued.
Al-Sayed said Qatari investments in Pakistan “are growing, which is a good sign of a stable government and encourages businessmen to invest in the South Asian nation.” Qatar Airways “is taking the lead” by growing its network in Pakistan, he said.
This was reiterated by Shah, who said: “Qatar Airways also continues to strengthen its air operations to Pakistan. A number of Qatari companies, including Qatar Petroleum, Pak-Qatar Takaful, and Al-Mirqab have made big investments in Pakistan. We appreciate the continued interest of investors from Qatar.”
The ambassador said Qatar’s strategic location in the GCC places it in a “unique position” to offer a second home to potential Pakistani investors because of low energy costs and a secure investment climate and regulatory environment. Pakistani investors can avail of many facilities on offer through Qatar Free Zones Authority (QFZA) and Qatar Financial Centre (QFC), he said.
Al-Sayed said Pakistan’s workforce has played a significant role in the development of 2022 FIFA World Cup-related construction work and infrastructure projects in line with Qatar National Vision 2030 because of the increase in the availability of work visas.
Shah said, “While Pakistan can offer its Qatari brothers and sisters a home-away-from-home, Qatar has also decided to open up to Pakistan. The visa-on-arrival facility has eliminated a significant trade barrier. Work visas for Pakistanis are now freely available.
“Due to encouragement by the Qatari authorities, we at the Embassy of Pakistan would continue to enhance trade promotion activities through better participation in trade exhibitions in Qatar as Covid-19 restrictions ease.”
Ends
