Pak-Syria can play vital role for promoting coop. in IT, Energy sectors: Jadoon
23 May, 2005
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ISLAMABAD, May 24 (Online): Federal minister for petroleum and Natural Resources Amanullah Khan Jadoon has said that Pakistan and Syria enjoy close and friendly relation deep routed in their common history, religion, culture and shared perception on major regional and international issues.
Addressing the 5th Pak-Syria joint Ministerial Commission (JMC) meeting in Damascus Monday, the petroleum Minister said that Pakistan and Syria have a long tradition of Co-operation with each other in various fields which provide a solid foundation for working together as partner on an infinite road to progress and development.
Mr. Jadoon said Pakistan has made significant progress on economics front over the last five year. Pakistan's economy is now more healthy; economics policies are consistent, transparent, and predictable; confidence of the private sector and a double-digit growth in industrial production; stock market is not only buoyant but the Karachi Stock Exchange was the best performing market on the world in the last two years, he added.
The minister said that our external balance of payment has never been so comfortable in the country's history current account balance is in surplus for three year in a row, foreign exchange reserve are over $12 billion or 17.4% of GDP-sufficient to finance 12 months of imports, exchange rate is stable in fact, rupee has appreciated to the extent of 13-14 percent viz-a viz US dollar over the last two years. He said economics growth has remarkably accelerated over the year and we are looking over 8 percent GDP growth this year, both exports and imports are row, and Pakistan's credit rating has been upgrade by international rating agencies, the Minister said.
Mr. Jadoon said that JMC plate from can play a vital role for promoting Pak-Syria Co-operation in agriculture, industrial joint venture, railways, communication, ship, building, information technology and energy sectors as well as enlarging the existing volume of ongoing economics trade and science and technology interaction.
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