ISLAMABAD: Pakistan and Egypt on Monday signed five Memoranda of Understanding (MoUs) and one Executive Programme for further promoting co-operation between the two countries in the fields of postal services, merchant shipping, investment, media, science and technology as well as small and medium enterprises development.
---- First visit by an Egyptian leader since Nasser in 1960s
---- Pakistan, Egypt sign 5 MoUs to enhance trade ties
President Asif Ali Zardari and his Egyptian counterpart Dr Mohamed Morsi witnessed the signing ceremony held at Presidency. The MoUs signed between the two countries pertains to the co-operation in the field of Money Orders and international postal services , merchant shipping, co-operation between Board of Investment (BOI) of Pakistan and General Authority of Free Zones and Investment (GAFI) of Egypt , co-operation between Middle East News Agency (MENA) and Associated Press of Pakistan (APP) and co-operation between Small and Medium Enterprises Development Authority of Pakistan and Special Fund for Development (SFD) of Egypt.
The two countries also signed 3rd Executive Programme for Scientific and Technological co-operation for the years 2013 to 2015. Before the signing ceremony, President Asif Ali Zardari held one-on-one meeting with Egyptian President Dr Mohamed Morsi followed by delegation level talks at the Presidency.
On the occasion, President Asif Ali Zardari highlighted various incentives and facilities being offered to the investors, which included investment in all the economic sectors, allowing 100 percent foreign equity, no limit on foreign investment, equal treatment to foreign and domestic investments, complete ownership of the businesses, allowing free repatriation of profits and capitals besides generous tax and customs incentives for importing raw materials, plant and machinery into Pakistan. He invited Egyptian investment in key sectors of economy including infrastructure, energy, mining, textile, real estate and tourism and also invited Egyptian investors to avail the huge incentives package being offered to foreign investors and entrepreneurs for investment in the Special Economic Zones in various parts of the country.
President Zardari expressed the hope that the MoUs and agreements would give further impetus to the trade and investment ties by jacking up the current bilateral trade volume from around $400 million to new heights. He also proposed Free Trade Agreement between the two countries, which he said, would help increase the quantum of bilateral investment. Presidential spokesperson Senator Farhatullah Babar said that President Asif Ali Zardari had called for concerted steps to bolster the existing broad and deep relationship between Pakistan and Egypt to new heights with focus on trade and investment ties.
Briefing about the two rounds of talks, Babar said that the two leaders held wide-ranging discussions on bilateral, regional and international issues and the situation in Middle East. The President while warmly welcoming Dr Mohamed Morsi on his maiden visit to Pakistan congratulated him on the success of peaceful struggle for democratic change in Egypt and lauded his efforts for democracy, rule of law and respect for human rights in Egypt.
As an important Islamic country, Pakistan considers Egypt an important player in the region as well as in the Islamic world, the President said. He added that Pakistan desired to expand, diversify and further strengthen the bilateral relations in all fields.
Regarding the situation in Syria, President Zardari said that Pakistan and Egypt should work together closely for the common good of the Ummah and for peace in their region. He underlined the need for working together to end the bloodshed in Syria and to find a peaceful solution to the crisis. "Pakistan believes that Syria's territorial integrity and sovereignty must be respected. Any outside interference would only complicate a complex situation and will have serious consequences for the neighbouring countries. The drive for peace in Syria must be led and owned by the Syrian People," the president said. He offered Pakistan's readiness to play its role in finding a peaceful solution of the Syrian crisis. Egyptian President Morsi expressed his deep desire to cultivate close relations with Pakistan and stated that Pakistan and Egypt were two pillars of the Islamic World which have an important role to play for the Ummah as well as the region.
The Spokesperson said that the two leaders agreed to hold bilateral summit on biennial basis alternatively in Pakistan and Egypt and expressed confidence that the mechanism would not only boost bilateral relations but would also give the two countries an opportunity to co-ordinate their positions on important regional and international developments.
The two leaders also agreed to the holding of the 4th Session of the Joint Ministerial Commission (JMC) in Islamabad later this year and called for increased people to people contact which they believed was extremely important in cementing the bonds of friendship between the two countries. They also urged for the need to further expedite efforts to fully realise the true trade potential by promoting greater business delegations exchanges, investments and facilitating the entrepreneurs.
In delegation level talks, Dr Mohamed Morsi was accompanied by General Mohammad Abdul Fatah El-Sisi, Commander- in Chief of the Egyptian armed forces and Minister of Defence and Military Production, Mohamed Kamal Amr, Minister of Foreign Affairs, Dr Essam Ahmed Mahmoud Elhaddad, Presidential aide for foreign relations and international co-operation, Hatem Abdelhamid Mahmoud Saleh , Minister of Industry and Foreign Trade, Engineer Ateh Naguib, Minister of Communication and Information Technology , Ambassador Mohamed Raifaah El Tahtawy, Chief of the Presidential Cabinet and Said Hindam, Egyptian Ambassador to Pakistan.
From Pakistan side, the meeting was attended among others by Secretary General to the President Salman Faruqui, Chief of Army Staff, General Ashfaq Parvez Kayani, Senator Mushahid Hussain Sayed, Spokesperson to the President Senator Farhatullah Babar, Foreign Secretary Jalil Abbas Jillani and other senior officials. Later the President also hosted banquet for the Egyptian President Dr Mohamed Morsi and his delegation which was also attended by Prime Minister Raja Pervez Asharaf, former Prime Minister Syed Yousuf Raza Gilani and other dignitaries.