Pakistan and Kuwait review trade, investment cooperation during bilateral consultations
ISLAMABAD: Pakistani and Kuwaiti officials reviewed their countries' cooperation in trade, investment, human resource collaboration and other economic spheres, the Pakistani foreign ministry said on Wednesday, as the two sides held their bilateral political consultations.
Pakistan and Kuwait held the fourth round of their Bilateral Political Consultations (BPC) in Kuwait on Wednesday. The Kuwaiti delegation was led by Sameeh Essa Johar Hayat, the Gulf country's assistant foreign minister (Asia Affairs) while Additional Foreign Secretary (Middle East) Shehryar Akbar Khan led the Pakistani side.
'The two sides reviewed the entire spectrum of bilateral relations including trade, investment, human resource collaboration, consular and people-to-people contacts with a view to further enhance bilateral cooperation,' the statement said on Wednesday.
It added that the two delegations also exchanged views on regional and international issues, and reaffirmed their commitment to continued cooperation and consultation.
'While expressing satisfaction over the upward trajectory in bilateral relations and the momentum of high-level interactions and exchanges, both sides agreed to further deepen engagement in diverse areas of mutual interest,' the Pakistani foreign ministry said.
It said that the next round of the BPC between the two sides will take place in Islamabad on mutually agreed dates.
Since narrowly escaping a default in 2023, Pakistan has eyed increasing foreign trade and investment with regional allies, especially Gulf countries.
Islamabad formed the Special Investment Facilitation Council (SIFC), a hybrid civil-military government body, tasked with attracting international investment in key economic sectors such as tourism, agriculture, livestock, mines and minerals and others.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
7 hours ago
- Arab News
Philippines Senate returns Sara Duterte impeachment case to lower house
MANILA: Philippine senators on Tuesday voted to send an impeachment case against Vice President Sara Duterte back to the lower house for clarification, just hours after convening a trial that could see her banned from politics for life. After a series of debates among members that included a motion presented by a Duterte ally to dismiss the case, the senators voted in favor of returning it to the lower house to certify that the complaint was constitutional. The lower house in February voted to impeach the vice president for alleged high crimes and betrayal of the public trust, allegations she has vehemently denied. A majority of the senators on Tuesday approved a motion to return the case to confirm the complaint did not violate the constitution and the next session of Congress was 'willing and ready' to pursue the impeachment complaint following midterm elections in May. The decision could be a stay of execution for Duterte, a likely contender to be the next president, in a trial that could be a pivotal moment in Philippine politics. The outcome of the trial could not only make or break Duterte, but also carries big implications for President Ferdinand Marcos Jr. and his agenda for the remaining three years of his presidency and beyond. The impeachment accusations against Duterte range from budget anomalies to amassing unusual wealth and threatening the lives of Marcos, his wife, and the house speaker. She rejects the allegations and on Tuesday, her office said the impeachment process had been weaponized. The trial of the popular daughter of firebrand former President Rodrigo Duterte follows an acrimonious falling-out with former ally Marcos, who ran on a joint ticket that won the 2022 election in a landslide. Marcos is limited to a single term in office and is expected to try to retain future influence by grooming a successor capable of fending off Duterte in the next election if she is acquitted. The president has distanced himself from the impeachment process, even though it was launched by his legislative allies. Sara Duterte is the fifth top official in the Philippines to be impeached, only one of whom, Renato Corona, a former chief justice of the Supreme Court, was convicted.
Arab News
7 hours ago
- Arab News
Pakistan calls on US, UK to urge India to come for dialogue at neutral location
ISLAMABAD: The head of an official delegation visiting London to present Islamabad's position following a recent military standoff with New Delhi said on Tuesday the United States and the United Kingdom should encourage India to come for dialogue at a neutral location. Weeks after their worst military confrontation in decades, India and Pakistan dispatched top lawmakers to press their cases in the United States, where President Donald Trump has shown eagerness for diplomacy between them. The Pakistan delegation is currently in London in the next stop of its mission and will go onwards to Brussels. Gunmen on April 22 massacred 26 tourists on the Indian-administered part of Kashmir in the deadliest attack on civilians in decades in the scenic region that has seen a long-running insurgency and is disputed between India and Pakistan since 1947. India accused Pakistan of backing the assailants — which it denies — and launched strikes on Pakistani territory. More than 70 people were killed in missile, drone and artillery fire on both sides for around four days before the US and other allies brokered a ceasefire on May 10. US secretary of state Marco Rubio also said at the time the two nations had agreed 'to start talks on a broad set of issues at a neutral site.' He did not specify when the talks would take place or where. 'As part of our achieving this ceasefire, it was agreed at the time that going forward, we would have a dialogue at a neutral location, covering all friction points,' said Bilawal Bhutto Zardari, the head of the Pakistani delegation and the scion of the political Bhutto dynasty. Bhutto Zardari, who was speaking to BBC Radio, said it seemed from recent statements by Indian leaders and actions of the government in New Delhi that they were not in favor of pursuing talks. 'We still believe that the United States and other allies can engage with India as a friend and explain to them that these decisions are not in their interest,' he said. 'Similarly, here in the United Kingdom, you have a long history with India and Pakistan. [Disputed] Kashmir is the unfinished agenda of the partition [of India and creation of Pakistan in 1947] and forms the root cause of our conflict. 'Your [UK] government too is well-placed to speak to the Indian government as a friend and explain to them that refusing to engage with their neighbor, for two nuclear-armed countries to have no dispute resolution mechanism, is not in anybody's interest.' Separately, Bhutto Zardari led Pakistan's delegation in a discussion with the Financial Times Editorial Board in London. 'We reaffirmed Pakistan's abiding commitment to peace, emphasizing that dialogue, not domination, remains the only sustainable path forward with India,' the leader wrote on X. 'Expressed grave concern over the erosion of strategic stability: India's violations of the Indus Waters Treaty, the weaponization of water, and the dangerous descent toward conflict in a nuclearized region, a trajectory that threatens to condemn future generations to perpetual insecurity.' Led Pakistan's high-level delegation in a substantive engagement with the Financial Times Editorial Board in London. We reaffirmed Pakistan's abiding commitment to peace, emphasizing that dialogue, not domination, remains the only sustainable path forward with India. Expressed… — BilawalBhuttoZardari (@BBhuttoZardari) June 10, 2025
Al Arabiya
8 hours ago
- Al Arabiya
Abu Dhabi expects more rapid growth for its financial center
The rush of financial firms setting up in Abu Dhabi to tap the oil-rich emirate's wealth funds and Middle East markets will continue at pace, the official in charge of expanding its financial hub has predicted. Abu Dhabi, which holds 90 percent of UAE's oil reserves, has accelerated efforts to diversify its economy, leaning on its vast sovereign funds that together manage almost $2 trillion of capital. Abu Dhabi Global Markets still lags Dubai, but the number of firms registered in the center rose by 32 percent last year, and the amount of assets managed by firms there grew 245 percent, as the likes of BlackRock, Morgan Stanley, AXA, PGIM and hedge fund Marshall Wace all set up or registered funds there. Earlier on Tuesday, Harrison Street, a US firm focused on alternative real estate assets with about $56 billion in assets under management, said it was opening an office in Abu Dhabi. The center reported last week that new operating licenses increased 67 percent in the first quarter of this year taking the total number of firms there past 2,380. 'We still have very strong growth,' ADGM's Chief Market Development Officer, Arvind Ramamurthy said, noting that the pipeline of new firms looked strong for the rest of the year, but refrained from giving a forecast for assets growth. 'Will it be 245 percent again this year? I wish. Let's see,' he said in an interview late on Monday. Firms from Japan, India and China are also setting up in growing numbers - asset managers and financial institutions but also crypto and artificial intelligence firms, Ramamurthy said providing any details. With cryptocurrency regulations in place since 2018, Abu Dhabi has become a major center for such investment, with sector heavyweights such as Circle and Coinbase represented there, while Abu Dhabi-backed investment group MGX has recently invested $2 billion worth of crypto tokens - issued by US President Donald Trump's World Liberty Financial venture - in the world's biggest crypto exchange, Binance.
