Pakistan, Bahrain to sign BIT: King Hamad due on March 18

[BATMAN]

Pakistan, Bahrain to sign BIT: King Hamad due on March 18 | Business Recorder

Pakistan and Bahrain will sign Bilateral Investment Treaty (BIT) in addition to other pacts during the visit of King of Bahrain Hamad Bin Isa Al-Khalifa, official sources told Business Recorder. Bahraini King is scheduled to visit Pakistan from 18-19 March 2014 along with a high-level business delegation.

The sources said King of Bahrain will have official dialogue with Prime Minister Nawaz Sharif. The visit is being seen as part of a series of high-level visits in recent weeks that included the visit of Saudi Crown Prince and Deputy Prime Minister Prince Salman bin Abdul Aziz.

King of Bahrain would lead a high powered business delegation to explore investment and trade opportunities in Pakistan. "The visit holds significance as it is meant to reciprocate the administration and confidence shown by Bahraini business community in Pakistan," the sources added. On the sidelines, Board of Investment (BoI) will arrange Pak-Bahrain investment seminar (presentation/Business to Business (B2B) meetings" on 19th March. Pakistani officials will highlight investment and trade opportunities in Pakistan.

The visit of King of Bahrain to Pakistan in the backdrop of the regional developments carries conspicuous diplomatic significance as new grouping is emerging in the Gulf Co-operation Council (GCC) member countries with Saudi Arabia, United Arab Emirates (UAE) and Bahrain recalling their ambassadors from Qatar recently. The sources said both countries are also expected to sign a pact regarding export of Pakistani manpower to Bahrain to be recruited in the civil defence forces. A number of Pakistanis are already working in police department. Both countries will also ink a pact on co-operation in the field of small and medium enterprises development.

 

[Al Bhatti]

March 17, 2014

King Hamad to make historic visit to Pakistan

Unprecedented visit expected to reinforce ties, boost cooperation

Bahrain’s growing tendencies to boost relations with Asian countries will be reinforced when King Hamad Bin Eisa Al Khalifa starts on Tuesday the first state visit by a Bahraini ruler to Pakistan.

The Royal Court said that King Hamad would be visiting Pakistan upon an invitation from Prime Minister Nawaz Sharif and would be holding talks with President Mamnoon Hussain and senior officials on bilateral relations and ways to reinforce cooperation in various areas.

The latest regional and international political developments and issues of common interest will also figure high on the talks, the court said as it announced the visit.

Last month King Hamad made a breakthrough visit to India that both countries described as highly successful.

King Hamad had previously visited Japan, China and Thailand.

Jauhar Saleem, the Pakistani ambassador to Bahrain, said that King Hamad’s visit was “an historic opportunity for Bahrain and Pakistan.”

“In the commercial arena, we have a trade of $400 million (Dh1.4 billion) on both sides,” he said. “Many Pakistani investors have invested heavily in Bahrain. Some of them are leading Pakistani businessmen here in Bahrain. On the other hand, many Bahrain banks have invested in Pakistan as well.”


The trade balance is heavily tilted towards Bahrain.


“It is $320 in exports from Bahrain to Pakistan and $85-90 million coming from Pakistan. However, this trade and this economic cooperation are not commensurate with the excellent political relations and friendship between the two countries, because I think $400 million are not enough. It is not too small but it is not enough, it could be raised to $1 billion or $2 billion,” the ambassador told Bahrain News Agency (BNA).

The diplomat said that the King’s visit would offer good opportunities for business in both countries.

“During this visit, there will be a big business delegation going to Pakistan and there will be big business for them there. We are very hopeful about this special initiative of signing cooperation agreement to promote investment and other important economic agreements that will be contributing in expanding commercial cooperation,” he said.

King Hamad to make historic visit to Pakistan | GulfNews.com