Pakistan and Kuwait have agreed to enhance bilateral relations in diverse fields.
The understanding came at a meeting between Prime Minister Muhammad Nawaz Sharif and Amir of Kuwait Sheikh Sabah Al Ahmad Al Jaber Al Sabah in Kuwait City on Tuesday.
The two leaders discussed matters of mutual interest.
The Prime Minister underlined the need for enhancing economic cooperation between Pakistan and Kuwait in industrial, agriculture, energy and defence sectors.
He urged the Kuwaiti investors to take advantage of the immense economic opportunities available in Pakistan.Kuwait has lifted its visa ban on Pakistan after six years and now Pakistanis can apply for it.
It was decided at a meeting held between Pakistan’s prime minister Nawaz Sharif and Kuwait’s amir Sheikh Sabah Al-Ahmad Al-Jaber Al Sabah here on Tuesday.
Kuwait had suspended all visas for tourism, visit and trade in 2011. It had also banned visas sponsored by spouses for nationals of Syria, Iraq, Iran, Afghanistan and Pakistan.
The ban was placed due to “difficult security conditions in the five countries” and to “the remarkably increasing tendency of nationals from the five countries to apply for visas to bring in relatives who faced or could face arrest by local authorities,” the sources said.
Nawaz Sharif arrived at Bayan Palace on Tuesday to hold talks with the leadership of Kuwait.
The prime minister is visiting Kuwait along with a high-level delegation. He had arrived in Kuwait on Monday upon the invitation of Amir of Kuwait.Prime Minister (PM) Nawaz Sharif proposed establishment of a Pakistan-Kuwait joint business council for promotion of trade relations between the two countries, Government of Pakistan's media wing said in a statement.
He was talking to prime minister of Kuwait Sheikh Jaber Al Mubarak Al-Hamad at Bayan Palace in Kuwait on Tuesday.
The premier pointed out that Pakistan and Kuwait have been economic and trade partners for long and Pakistan wished to further enhance its relations with Kuwait in all spheres.
The joint ministerial commission provides the best platform to take stock of bilateral cooperation in various economic sectors and setting new benchmarks to carry this cooperation forward, he added.
Referring to the level of bilateral trade between the two countries, the prime minister reiterated that this needed to be further enhanced to its fullest potential. Encouraging greater private sector interaction could enhance the existing level of trade as well as bridge the imbalance in existing trade patterns.
Nawaz Sharif said over 114,000 Pakistanis live in Kuwait which was evidence of the strong ties existing between the two countries. It also confirmed the immense importance that Pakistan attaches to relations with Kuwait.
Nawaz Sharif also emphasized the importance of early resumption of GCC- Pakistan Free Trade Agreement negotiations with the support of Kuwait and most importantly spoke of the need for lifting of visa restrictions as it would remove a major hurdle in freedom of movement for the business community.
He stressed that Pakistan was an investment friendly country and an attractive destination for foreign investors, due to its liberal investment policy and high rate of return.
The prime minister said there are ample opportunities for investors, with one hundred per cent equity or joint ventures in Pakistan adding that over 1,000 leading multinational companies are currently successfully operating in various sectors of our economy.
The prime minister further said that there were a number of energy and infrastructure development projects in Pakistan that could be considered by foreign investors.
He said we would welcome further investments from Kuwait in mega infrastructure and energy projects being undertaken in Pakistan.
Earlier, Nawaz Sharif was accorded with a warm welcome upon his arrival at the Bayan Palace with Guard of Honour.
Meanwhile, talking to speaker of Kuwaiti parliament Marzouq Al-Ghanim in Kuwait City, the prime minister emphasized the need for greater parliamentary exchanges between Pakistan and Kuwait.
Speaker Marzouq briefed the prime minister about the proceeding of Kuwaiti Parliament.
