Prime Minister Muhammad Shehbaz Sharif has announced that the Pakistan-GCC Free Trade Agreement (FTA) is set to be signed very soon, a move that promises to significantly enhance trade and economic cooperation between Pakistan and the Gulf Cooperation Council (GCC) member states, with a particular focus on Bahrain.
A New Chapter in Economic Partnership
Addressing the business community in Manama on Thursday, the Prime Minister outlined his government's readiness to actively support joint ventures and facilitate investment plans. He called upon Bahraini leadership and entrepreneurs to collaborate closely to invigorate key sectors of Pakistan's economy, including industry, agriculture, information technology (IT), and financial technology (fintech).
PM Shehbaz emphasized that Pakistan and Bahrain are brotherly nations, with relations deeply rooted in shared culture, religion, mutual respect, and trust that have been cultivated over decades. He stated that the existing strategic cooperation now needs to be transformed into a more dynamic and vibrant economic partnership.
Expanding Cooperation and Acknowledging Support
The Prime Minister detailed Pakistan's readiness to enhance economic collaboration with Bahrain across all areas of mutual interest, explicitly naming agriculture, IT, Artificial Intelligence (AI), and fintech. He extended his profound gratitude to the leadership of Bahrain, including the King, the Prime Minister, the Deputy Prime Minister, the Crown Prince, and the Foreign Minister, for their unwavering commitment to Pakistan, describing his meetings with them as extremely productive.
A significant point of appreciation was the support provided to the more than 150,000-strong Pakistani community in Bahrain. The Prime Minister specifically thanked the King for his gracious act of pardoning Pakistani prisoners. Both nations also reaffirmed the importance of their longstanding defence partnership and agreed to continue strengthening cooperation in areas such as training, logistics, manpower, and defence production.
Celebrating the Diaspora and Future Opportunities
PM Shehbaz praised the vibrant Pakistani community in Bahrain for their hard work and dedication to the development of both nations. He highlighted a remarkable contribution, noting that the community sent remittances worth $484 million to Pakistan during the last financial year, a feat he described as highly commendable.
Earlier, Bahrain's Minister for Finance and National Economy, Shaikh Salman Bin Khalifa Al Khalifa, welcomed the Pakistani delegation. He appreciated the role of the Pakistani diaspora and financial institutions in Bahrain's development. The minister pointed out that the entire region is undergoing a generational transformation, becoming a hub for innovation, sustainability, and technological excellence.
Highlighting Bahrain's leading role in modern and emerging technologies, the minister presented substantial investment opportunities for Pakistani businesses and tech companies in multiple high-growth sectors, including artificial intelligence, cybersecurity, metals, automotive components, and electronics.
