PM Gilani for enhanced Pak-Libya trade, investment cooperation
02 September, 2009
TRIPOLI: Prime Minister Yousuf Raza Gilani has stressed the need for increased trade and investment cooperation between Pakistan and Libya. The prime minister – who is on a three-day visit to Libya to attend the 40th anniversary of the Libyan Revolution – was talking to Libya-based Pakistani businessmen at an Iftar-dinner hosted by Pakistan’s Ambassador in Tripoli Jamil Ahmad Khan on Monday. “There is lot of trade and investment potential in Pakistan and Libya, which can be exploited for complementing each other’s economies,” Gilani said. Pakistani business leaders discussed with Prime Minister Gilani the prospects of business opportunities in Pakistan particularly in oil and gas, agro industry, tourism and construction-related industries. They assured the prime minister of their cooperation and support in promoting trade and economic cooperation between the two countries. Gilani said the Libyan government was investing $147 billion in the construction of housing units in Pakistan over the next five years, and Pakistan could export cement and other such material to Libya. The businessmen also pointed out some problems and delay in the issuance of visa by Libyan authorities for Pakistani businessmen to which the prime minister said he would raise the issue with the Libyan authorities. He said the Libyan labour minister would soon visit Pakistan to help boost the export of Pakistani manpower to Libya. The prime minister said with Pakistan having a good gas distribution system and Libya working on exploration, the two countries could also share each other’s expertise in the oil and gas sector. Prime Minister Gilani apprised the business community of the challenges faced by the country including economic recession, terrorism, law and order, food and energy shortages and the government’s efforts to tackle these problems. He informed the business leaders that the government had taken action against sugar hoarders and had increased supplies to the state-run Utility Stores for sale on subsidised rates. Gilani said the government had initiated short-, medium- and long-term measures to address the electricity shortage in the country, with plans also being made to avoid an expected water shortage. Gilani said work was in progress on various power projects and he would inaugurate a power project every month. He also cited the approval of the Gilgit-Baltistan Empowerment and Self-Governance Order 2009 for the Northern Areas as an example of the achievement of the government and said the new CFC Award would also be announced soon. The prime minister also apprised the businessmen of the recent successful military operation in Swat and Malakand and said most of the internally displaced persons (IDPs) had returned home. He said after the recent ministerial meeting of the Friends of Democratic Pakistan (FoDP) forum where Pakistan presented a Malakand Development package, the country would get the much-needed assistance from its friends for the reconstruction of the affected areas, as the FoDP meeting would be held in New York in September. Sri Lanka: Prime Minister Gilani also met Sri Lankan President Mahinda Rajapakse on Tuesday and expressed strong desire to strengthen multi-faceted ties and cooperation with the country. The two leaders, who met here on the sidelines of the 40th anniversary of Libyan Revolution, discussed bilateral relations and other regional and international matters of mutual interest. Gilani and the Sri Lankan president appreciated the fact that trade between the two countries had experienced a quantum jump after the Free Trade Agreement. They agreed to broaden the scope of FTA to services and investment. Gilani extended an invitation to President Rajapakse for an official visit to Pakistan, which the latter readily accepted. Meetings: Gilani also met separately with President of the Philippines Macapagal Arroyo and Maltese President George Abella. He discussed the prospects of improving bilateral cooperation in various fields with the two leaders. End.
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