Pakistan and Egypt agree to strengthen trade relations

The Ministry of Foreign Affairs arranged the 8th round of Political Consultations between Pakistan and Egypt in Islamabad on Monday. (Photo courtesy: Anadolu agency)
Updated 24 December 2018
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Pakistan and Egypt agree to strengthen trade relations

  • The decision was taken during political consultations in Islamabad
  • Pakistan’s new government is strengthening its ties with Arab states

ISLAMABAD: Pakistan and Egypt agreed on Monday to take important measures to enhance bilateral trade between the two countries. These steps include visa facilitation for businessmen, exchange of trade related information and business delegations, and promotion of direct private sector contacts.

According to a handout circulated by the Ministry of Foreign Affairs, the decision was made during the 8th Round of Political Consultations between the senior officials of the two states.

The two sides reviewed the entire gamut of bilateral relations and expressed satisfaction at the strength of their relations. They also discussed ways to strengthen and diversify the existing cooperation in the fields of politics, economics, trade, investment, defense, education and culture.

The officials of the two countries underscored the importance of exchanging high level visits between Pakistan and Egypt to inject greater content to bilateral relations. Apart from that, it was agreed to hold the 4th session of Joint Ministerial Commission during the first quarter of next year in Islamabad.

Pakistan and Egypt also exchanged views on regional and international issues, with particular focus on Afghanistan, South Asia, Palestine, Syria, and UN reforms.

There was convergence of views on issues of regional importance between the two sides. They expressed satisfaction at the level of cooperation between them in multilateral forums and agreed to further enhance it in the future.

While Pakistan has always maintained close and cordial relations with Arab states, the current Pakistan Tehreek-e-Insaf administration has taken that sentiment of fraternity to a whole new level by undertaking high-profile visits to the Middle East and working closely with its allies in the region.


Pakistan, global crypto exchange discuss modernizing digital payments, creating job prospects 

Updated 05 December 2025
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Pakistan, global crypto exchange discuss modernizing digital payments, creating job prospects 

  • Pakistani officials, Binance team discuss coordination between Islamabad, local banks and global exchanges
  • Pakistan has attempted to tap into growing crypto market to curb illicit transactions, improve oversight

ISLAMABAD: Pakistan’s finance officials and the team of a global cryptocurrency exchange on Friday held discussions aimed at modernizing the country’s digital payments system and building local talent pipelines to meet rising demand for blockchain and Web3 skills, the finance ministry said.

The development took place during a high-level meeting between Finance Minister Muhammad Aurangzeb, Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib, domestic bank presidents and a Binance team led by Global CEO Richard Teng. The meeting was held to advance work on Pakistan’s National Digital Asset Framework, a regulatory setup to govern Pakistan’s digital assets.

Pakistan has been moving to regulate its fast-growing crypto and digital assets market by bringing virtual asset service providers (VASPs) under a formal licensing regime. Officials say the push is aimed at curbing illicit transactions, improving oversight, and encouraging innovation in blockchain-based financial services.

“Participants reviewed opportunities to modernize Pakistan’s digital payments landscape, noting that blockchain-based systems could significantly reduce costs from the country’s $38 billion annual remittance flows,” the finance ministry said in a statement. 

“Discussions also emphasized building local talent pipelines to meet rising global demand for blockchain and Web3 skills, creating high-value employment prospects for Pakistani youth.”

Blockchain is a type of digital database that is shared, transparent and tamper-resistant. Instead of being stored on one computer, the data is kept on a distributed network of computers, making it very hard to alter or hack.

Web3 refers to the next generation of the Internet built using blockchain, focusing on giving users more control over their data, identity and digital assets rather than big tech companies controlling it.

Participants of the meeting also discussed sovereign debt tokenization, which is the process of converting a country’s debt such as government bonds, into digital tokens on a blockchain, the ministry said. 

Aurangzeb called for close coordination between the government, domestic banks and global exchanges to modernize Pakistan’s payment landscape.

Participants of the meeting also discussed considering a “time-bound amnesty” to encourage users to move assets onto regulated platforms, stressing the need for stronger verifications and a risk-mitigation system.

Pakistan has attempted in recent months to tap into the country’s growing crypto market, crack down on money laundering and terror financing, and promote responsible innovation — a move analysts say could bring an estimated $25 billion in virtual assets into the tax net.

In September, Islamabad invited international crypto exchanges and other VASPs to apply for licenses to operate in the country, a step aimed at formalizing and regulating its fast-growing digital market.