ISLAMABAD: Islamabad on Tuesday invited Oman to invest in its agriculture, mineral and IT sectors under the Special Investment Facilitation Council (SIFC), a civil-military hybrid body set up last year to attract foreign investment in Pakistan, especially from Gulf nations.
Pakistan is currently focusing on meeting its external financing needs by speaking with foreign governments and lenders to draw investment as well as seeking loan rollovers as the government prepares to execute its new $7 billion International Monetary Fund agreement, which is pending approval by the lender’s executive board.
As part of a push to seek foreign investment, Pakistan participated in the eighth session of the Pakistan-Oman Bilateral Political Consultations, held today, Tuesday, in Muscat, Oman.
The two sides “comprehensively” reviewed all aspects of bilateral cooperation at the conference, including political relations, trade and investment, security and defense, culture, health and consular matters.
“The Omani side was invited to invest in agriculture, minerals and Information Technology under the Special Investment Facilitation Council,” the Pakistani foreign office said in a statement.
“Noting the importance of Joint Ministerial Commission, the two sides agreed to hold the 8th session at an early date in Islamabad. The two sides also agreed to further elevate bilateral trade volume and to enhance investment cooperation.”
The Omani side also expressed support for the First Pakistani Business Expo to be held in Muscat on October 13-14 and welcomed Pakistan’s decision to give visas on arrival to Omani nationals, the foreign office said.
Bilateral political consultations are an important dialogue mechanism between Pakistan and Oman to review bilateral relations and explore new areas of cooperation.
