Prime Minister Shaukat Aziz on Tuesday said that the traditional reservoir of good relations between Pakistan and Australia needs to be utilised to enhance co-operation between the two countries and their private sectors in various fields including economy, trade and investment, mining, agriculture especially livestock and dairy development.
He was talking to Bob Hawke, former Prime Minister of Australia who called on him here at the PM House this evening. Bob Hawke is heading a delegation of leading investors from Australia. Prime Minister Shaukat Aziz said that seven years ago when President Parvez Musharraf took office, economy of the country was in a shambles.
As a result of a deep and comprehensive reform agenda based on the philosophy of deregulation, liberalisation and privatisation, the economic profile of the country has been totally transformed.
The country has now a growth rate ranging between 6-8 percent, has comfortable foreign exchange reserves of around 13 billion dollar and a per capita income of 847 dollar, he said.
The Prime Minister said that Pakistan has become a destination of choice for foreign investors attracting a Foreign Direct Investment (FDI) of 3.8 billion dollar last year. He said that oil and gas, IT, tourism, housing and hotel construction and engineering are some of the attractive areas of investment in Pakistan.
Shaukat said that Australia has highly developed agricultural sector, and Pakistan being an agricultural country would like to benefit from its experience and best practices especially in the field of livestock and dairy development.
He informed the visiting dignitary that Pakistan is one of the largest producers of milk in the world despite the fact that it does not have an organised livestock or dairy industry.
Bob Hawke said that Australian businessmen were fully aware of the economic turn-around achieved by Pakistan and the vast opportunities of investment in the country. He said that he is visiting Pakistan along with a group of Australian investors to gain first hand information about the areas of investment in Pakistan.
He said his delegation was particularly interested in investment in the energy sector and would be meeting various businessmen and government representatives in this connection. Later talking to media persons, Bob Hawke termed his meeting with Prime Minister Shaukat Aziz as very positive.
He appreciated the economic turn-around achieved by Pakistan during the last few years under the leadership of President Pervez Musharraf and Prime Minister Shaukat Aziz.
Bob Hawke said due to the impressive economic growth, investors-friendly policies of the government coupled with hassle free and excellent investment environment and ample opportunities, Pakistan has gained increased confidence of international trading community and investors. He said his visit was aimed at exploring opportunities of investment in the area of energy development.
Bob Hawke said, there are already some Australian companies working in various fields, while more companies are interested to invest in Pakistan.