MINSK: Pakistan and Belarus on Monday signed 12 Memorandum of Understandings (MoUs) in the field of tractors, chemicals, leather footwear manufacture, milk products and tyres.
Both countries have signed the MoUs during Pakistan-Belarus Business & Investment Forum held is Islamabad at the occasion of the first visit of Belarusian President to Pakistan.
The Forum will mark an important milestone to support and encourage Pakistan-Belarusian economic cooperation.
Vitally Vovok, Minister for Industry Belarus, led the Belarus delegation along with 55 businessmen representing major Belarusian companies in the sectors of agriculture, auto industries, chemicals, pharmaceuticals and dairy & meat sectors.
As many as 75-businessmen have represented the Pakistan business side from various sectors. B2B meetings with Belarusian counterparts were also arranged.
The Belarus Minister expressed his profound gratitude to BOI for organising this prestigious event. He assured that collaboration evolved today between the two sides will go a long way to reflect investment trade and brotherly relations between the two countries.
The event was attended by a significant number of private sector businessmen representing agriculture, dairy, tractor, pharma, textile, fertilizer and chemicals sectors.
During the forum B2B meetings were arranged which provided a win-win opportunity to Pakistani and Belarusian enterprises and organisations to establish business contacts and explore the possibilities of joint ventures, promote investment & trade activities in Pakistan.
Chairman BOI, while inaugurating the event, reiterated the commitment of Government of Pakistan to provide a conducive business environment to foreign investors. He highlighted that both countries have huge potential to enhance trade and investment and specially now, after the initiatives like Pak-China corridor and Special Economic Zones, Pakistan has become a lucrative investment destination.
The Belarusian side was invited to capitalise on Pakistan geo-strategic location and highly skilled labour force to access the markets of south Asia and Middle East.
Secretary BOI, Iftikhar Babar highlighted the investment regime of Pakistan, strength of Pakistan economy and huge potential for investment.
He stated that Pakistan provide equal treatment to both, local & foreign investors, provide protection to foreign investment under the laws, 100pc foreign equity is allowed and there is no restriction on repatriation of profit, dividend and royalty fee.
Moreover, BOI being the apex state agency for investment promotion will extend its maximum facilitation to support Belarusian companies in establishing business ventures in Pakistan.
Belarus tractor had been a sign of durability and efficiently running in Pakistan. BOI invites Belarusian companies to explore all major sectors of Pakistan’s economy as highlighted.
