ISLAMABAD: Egypt has offered Pakistani companies opportunities to establish manufacturing operations in the North African country to benefit from its preferential trade arrangements with the United States, Pakistan's Commerce Ministry said Thursday.
The offer came during a series of bilateral meetings held by Federal Minister for Commerce Jam Kamal Khan with counterparts from Egypt, Saudi Arabia and Tunisia on the sidelines of the 42nd session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation in Istanbul, Turkey, according to a ministry statement.
In his meeting with Egyptian Minister of Investment and Foreign Trade Mohamed Farid Saleh, Khan discussed ways to enhance bilateral trade, investment and industrial cooperation, particularly in cotton and textiles.
Saleh highlighted investment opportunities in Egypt and encouraged Pakistani companies to explore manufacturing and industrial partnerships. He drew attention to Egypt's preferential trade arrangements with the United States, which he said offer Pakistani investors a route to establish manufacturing operations in Egypt and access the American market, subject to applicable trade requirements.
Saleh requested details of Pakistani companies expected to participate in an upcoming business forum to facilitate direct engagement between the two countries' business communities and identify potential investment partnerships. He also noted educational opportunities for Pakistani students in Egypt in science, technology, medicine, healthcare and engineering at competitive costs.
Khan emphasized the need to develop joint ventures between Pakistani and Egyptian private-sector companies and to explore opportunities in textiles, manufacturing and other mutually beneficial sectors, saying closer business-to-business engagement and stronger institutional links could help both countries expand commercial partnerships and explore new international markets.
In a separate meeting with Fareed S. Alasaly, Saudi Arabia's deputy governor for international organizations and agreements, both sides agreed to strengthen cooperation in agriculture and industrial development, particularly in human resource development, livestock and food security.
Khan proposed partnerships between leading Pakistani and Saudi businesses to explore emerging trade opportunities in African markets and stressed the need for greater institutional and private-sector engagement to translate economic potential into practical business partnerships.
During talks with Tunisian Minister of Trade and Export Development Samir Abid, Khan discussed ways to enhance bilateral trade and explore new avenues of economic and industrial cooperation. Both ministers acknowledged that existing trade volumes remain significantly below their true potential and called for coordinated efforts to identify new opportunities and strengthen commercial links.
Their discussions focused on expanding cooperation in agriculture, minerals, textiles, auto parts and manufacturing, with both sides seeing considerable opportunities for mutually beneficial partnerships in those sectors.
Khan said Pakistan and Tunisia could benefit from each other's experience, technical expertise and industrial capabilities in specialized sectors, highlighting the importance of sharing knowledge, adopting improved production practices and encouraging joint ventures to enhance productivity and competitiveness.
