Pakistan, Bahrain form teams for finance, commerce collaboration

MANAMA: Pakistan and Bahrain on Thursday decided to establish joint teams of relevant officials to chalk out a roadmap for future collaboration in the fields of finance, banking, commerce and economy.

The bilateral ties and cooperation were discussed in a meeting between Deputy Prime Minister and Foreign Minister Senator Ishaq Dar and Bahrain’s Minister for Finance and National Economy Shaikh Salman bin Khalifa Al Khalifa in Manama.

The meeting was held as a follow-up to the discussion between Prime Minister Shahbaz Sharif and the Prime Minister and Deputy Supreme Commander of Bahrain, Prince Salman bin Hamad Al Khalifa.

The discussion between DPM Ishaq Dar and Shaikh Salman focused on enhancing cooperation in the finance sector.

Citing their significant progress in Fintech, the Bahrain side offered to share its expertise with the Pakistani banking sector.

The two ministers also discussed avenues of cooperation between the central banks of the two brotherly countries.

Earlier in his welcoming remarks at the business community in Manama, Bahrain’s Minister for Finance and National Economy, Shaikh Salman Bin Khalifa Al Khalifa thanked Prime Minister Shehbaz Sharif and his delegation for visiting the State of Bahrain.

The Minister appreciated the role of Pakistani diaspora and financial institutions in development and progress of Bahrain. He said the whole region is witnessing a generational transformation and becoming a centre of innovation, sustainability and technological excellence.

Highlighting the leading transformational role of Bahrain in modern and emerging technologies, the Minister offered huge investment opportunities for Pakistani business and tech companies in multiple sectors including artificial intelligence, cyber security, metals, automotive components, electronics and other advanced technologies.

On the occasion, Prime Minister Shehbaz Sharif has said the Pakistan–GCC Free Trade Agreement, expected to be signed soon, will significantly strengthen trade ties between Pakistan and Gulf Cooperation Council member states, particularly Bahrain.

The PM said Pakistan is fully prepared to support joint ventures, facilitate investment plans and advance mutually beneficial partnerships. He encouraged Bahrain’s leadership and private sector to work closely with Pakistan to further energize key sectors including industry, agriculture, information technology and fintech.

Shehbaz Sharif described Pakistan and Bahrain as brotherly nations whose relationship is rooted in shared culture, faith, mutual respect and trust. He said both countries have enjoyed decades of strategic cooperation and should now focus on expanding this partnership into robust economic collaboration.

The PM reaffirmed Pakistan’s readiness to enhance cooperation with Bahrain in areas of mutual interest, including agriculture, IT, artificial intelligence and fintech.