Pakistan and GCC Poised for Landmark Free Trade Agreement

Prime Minister Shehbaz Sharif announced that Pakistan and the Gulf Cooperation Council (GCC) are on the verge of signing a free trade agreement, aiming to significantly enhance trade, especially with Bahrain. The deal is expected to foster joint ventures and bolster sectors such as industry, agriculture, and technology.

Prime Minister Shehbaz Sharif has declared that Pakistan and the Gulf Cooperation Council (GCC) are close to finalizing a free trade agreement poised to boost economic ties. This announcement was made during his address to the business community in Manama.

Sharif emphasized that the forthcoming agreement will increase Pakistan's trade, particularly with GCC member states like Bahrain, by encouraging joint ventures and facilitating investment opportunities. The GCC, comprising countries such as the UAE, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait, is seen as a vital partner in this endeavor.

The Prime Minister also lauded the Pakistani diaspora in Bahrain for their contribution to both countries' development, highlighting the government's commitment to enhancing Pakistan's economy, industry, agriculture, IT, and fintech sectors.

(With inputs from agencies.)