Pakistan, Kuwait Agree to Enhance Trade, Investment  
By Sheeraz Aslam 'Pakistan Times' Special Correspondent

ISLAMABAD: Pakistan and Kawait here on Saturday emphasized on translating the excellent brotherly relations with identity of views on all issues and cultural affinity between them into an equally strong economic relationship.

Dr. Yousef Al-Zalzala, Former Minister of Commerce and Member of Parliament of the State of Kuwait along with a two-member delegation called on Zahid Hamid, Federal Minister for Privatisation and Investment here today.

Zahid Hamid briefed the delegation regarding the privatisation and investment polices and said that there are numerous investment opportunities in Pakistan and all economic sectors were open for 100% foreign equity and investors were free to transmit as much profit or equity without any permission. He said that Pakistan’s GDP growth is exceeding 7%.

He assured all support and assistance from Government of Pakistan to Kuwaiti Investors.

The Minister presented the macro economic indicators, which were improving every year and also briefed them regarding increasing FDI inflows, which touched the record level of US $ 3.5 billion in year 2005-06 and this upward trend was being witnessed during the current fiscal year July 2006-January 07, which stood US $ 3.6 billion including US $ 2.1 billion direct investment, US $ 697 million portfolio investment and US $ 811 million of OGDCL GDR proceeds.

This trend is continuing and will set new FDI record by the close of this fiscal year. He also briefed them about the investment opportunities in various sectors with special reference to PSO and PPL Privatisation.

Both sides emphasized on translating the excellent brotherly relations with identity of views on all issues and cultural affinity between Pakistan and Kuwait into an equally strong economic relationship.

They also agreed on further improving the investment climate beneficial to both the countries and to facilitate business groups of both the countries.●