Pakistan, Egypt launch major push to reset economic ties with new Business Council, Forum
Pakistan, Egypt launch major push to reset economic ties with new Business Council, Forum
ISLAMABAD: Pakistan and Egypt on Sunday agreed to significantly upgrade their economic partnership with the announcement of a new PakistanโEgypt Business Council and a PakistanโEgypt Business Forum, marking the most structured commercial engagement between the two nations in more than a decade.
The decisions were unveiled by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar at a joint press conference with Egyptโs visiting Foreign Minister Dr Badr Ahmed Mohamed Abdelatty, signalling a renewed push to bring business, trade and investment ties in line with the longstanding political goodwill between the two countries.
Dar said the Business Council would institutionalize commercial cooperation, while the Business Forum โ to be co-chaired by both foreign ministers โ would hold its first meeting in Cairo in the second quarter of 2026. Leading private-sector companies from both countries would be represented, with a clear focus on boosting business-to-business (B2B) linkages.
He noted that despite the deep affection and historic ties between the two states, bilateral trade still hovered around $300 million, far below its potential. To address this gap, Pakistan would share a list of 250 business houses representing key economic sectors, shortlisted through a transparent, merit-based process coordinated with the FPCCI and relevant chambers. These firms would be facilitated to enhance trade and investment engagement with Egypt before being placed on a mutually agreed whitelist. A second batch of 250 companies would be added after six months, raising the total to 500. Egypt, Dar added, would follow a parallel process.
The deputy prime minister/foreign minister said both sides also agreed to ease visa facilitation for businesspeople. He further announced that after a long pause since 2010, senior officials from both foreign ministries would resume bilateral political consultations in the first quarter of next year.
Welcoming Egyptian Foreign Minister Abdelattyโs announcement, Dar appreciated Egyptโs decision to double the number of scholarships for Pakistani students pursuing religious education.
courtesy pakistantoday
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