Pakistani and Belarusian companies on Tuesday signed 13 MoUs and agreements in different sectors to enhance co-operation between the two countries. The MoUs and agreements were signed at Pakistan-Belarus business and investment forum here on the eve of three-day official visit by Belarusian Prime Minister to Pakistan Andrei Kobyako along with a 73-member businessmen/delegation.
These include i). MoU between M/s MTZ & MTW Pak Assembling Industries Pvt Ltd; for export of tractor parts to Pakistan, ii). MoU between Belshina & MTW Pak Assembling Industries Pvt Ltd, iii). Contract between Belmedpreparaty & M/s Genome Pharmaceutical Ltd; for export of pharmaceutical products to Pakistan, iv). Contract between Grodno Tobacco Factory Neman & M/s Dardul Pvt Ltd; for import of tobacco to Belarus, v). Contract between Meat Dairy Company and Dairy Solution Pvt Ltd; export of dry milk to Pakistan vi). Contract between Naftan & M/s SJI Chemiplast and Zuraz Global for export of acrylic fibers to Pakistan, vii). Contact between Glass Work Neman and Pak Neman Ltd; for export of Glass products to Pakistan, viii). MOU between Belazand Mines and Minerals Department, Government of Punjab, ix). MOU between Adani& Galosh General Trading, x). MOU between Belshina & M/s Beltyre Asia PTE xi.) two MOUs between Belarusneft and Shahzad International and two MOUs between Yarovit Group and Shahzad International. The forum was organised by the Board of Investment. Prime Minister of Belarus and Advisor to Prime Minister on Foreign Affairs Sartaj Aziz witnessed the signing ceremony.
The Prime Minister of Belarus, in his address to the forum, invited Pakistani entrepreneurs to invest in Belarus which was one of the most investor-friendly countries and offered lucrative returns. Speaking on the occasion, Sartaj Aziz said that there was vast potential of expanding co-operation between Pakistan and Belarus in trade, investment and joint ventures. He also called for fast track action on understanding reached between entrepreneurs of the two countries and on the MoUs and agreements signed on the occasion.
He said our economies are complementary but the level of trade between the two countries is insignificant, which needs to be enhanced.
The adviser said the road map for co-operation that was signed during the visit provided very good framework for fruitful co-operation between the two countries and provided opportunities to the private sector for joint ventures. He said that the government of Pakistan is committed to protect and encourage foreign investment. He further said that Board of Investment is mandated to facilitate local and foreign investors, adding it will extend all possible assistance and facilitation to investors from Belarus.
The forum was attended by businessmen from Pakistan and Belarus while CEO''s of different firms also participated in the business forum. During the Forum, different presentations were made by the provincial investment promotional agencies ie PBIT, SBI, KPKBIT and Balochistan Board of Investment to highlight the investment opportunities, potential and incentives available in their respective provinces. Seven presentations were also made from Belarusian side to highlight the investment opportunities available in Belarus.
Secretary BOI Iftikhar Babar also addressed the forum and welcomed the distinguished guests and dignitaries from Belarus. Miftah Ismail, MOS / chairman, BOI while addressing the forum said that Pakistan is offering a very liberal investment regime in the region with diverse and business friendly incentives.
He invited the Belarusian investors to invest in Pakistan in all sectors of economy, specifically in agriculture machinery, pharmaceutical, mining, leather, agriculture and food industry for joint ventures with local partners and work for investment and trade development, which are most beneficial for both of the countries. The forum provides businessmen of both the countries to get an opportunity to discuss investment, trade and economic co-operation as well as the ways to expand co-operation and implement joint venture projects in the most promising areas. Pakistani companies are interested in establishing business ties with Belarusian companies in different sectors like agriculture machinery, tractors, chemical, textile, glass and crystal products, and mechanical engineering etc.