ISLAMABAD: Pakistan on Thursday invited D-8 nations to work together with Islamabad to ensure food security of the developing nations’ alliance.
“I am happy to state that Pakistan’s agriculture sector, being the backbone of our economy, posted a growth of 4.4 percent in FY2022 owing to a 6.6 percent growth in crops and 3.3 percent increase in livestock production.
The Government of Pakistan is focusing on providing special relief in taxes and duties on different agricultural equipment and machinery. I invite the D-8 nations to join hands with Pakistan and work together to make the D-8 alliance food secure and an agriculturally-surplus country,” the Federal Minister for Board of Investment Chaudhary Salik Hussain stated while addressing the D-8 Investment Forum on Thursday.
Secretary BOI, Fareena Mazhar, is also accompanying him. This was the 25th anniversary of the D-8 Organisation.The minister interacted with the delegates from the member countries and welcomed them to explore the immense investment, especially in Pakistan’s special economic zones.
“The Government of Pakistan is working with the vision to transform Pakistan into a high-end commercial, technology, and manufacturing hub,” he said.Secretary BOI, Fareena Mazhar delivered a detailed presentation and apprised the audience at the D-8 Investment Forum of Pakistan’s latest business reforms initiatives to improve the ease of doing business.
“Pakistan has also seen an incredible improvement in its security situation and has conducted notable regulatory reforms, which have been recognised globally by the World Trade Organisation, World Economic Forum and World Bank of Pakistan,” she stated.
She invited the businessmen to explore investment opportunities in Pakistan in multiple sectors, adding that owing to Pakistan’s strategic location, the country provides access to three continents and 68 countries as it is being connected to Belt and Road Initiative (BRI) through the China Pakistan Economic Corridor (CPEC).
A day earlier, the minister and secretary BOI also held a meeting with the Foreign Economic Relations Board of Turkey (DEiK) and the Turkish business community. The minister BOI assured them of government’s resolve and commitment to facilitate businesses and investors in Pakistan.
The D-8 is a global arrangement (Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey), as the composition of its members reflects. It was established with the objective of economic cooperation to improve member states’ position in the global economy, diversify and create new opportunities in trade relations, besides enhancing participation in decision-making at the international level.16th June 2022 marks the silver jubilee of the organisation and the minister and secretary for BOI also participated in the silver jubilee reception in Istanbul.
