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Efforts will be fast-tracked to finalise Pakistan-GCC FTA

Business Recorder • • 1 min read

Efforts will be fast-tracked to finalise Pakistan-GCC FTA

Pakistan and Bahrain have agreed to speed up work on the Pakistan-GCC Free Trade Agreement, according to Business Recorder. The pledge emerged on Thursday at the third session of the joint ministerial commission, co-led by Ishaq Dar and Bahrain's Foreign Minister, Dr Abdullatif bin Rashid Al Zayani. The two sides also decided to set up a working group at official level on trade and investment, meant to hold regular talks on bilateral economic ties.

Cooperation is planned in energy, farming, IT and labour, and both governments welcomed closer contact between their business communities. An energy-focused working group is set to convene next month, with oil, gas and minerals on its agenda. Dar stated that the countries had put their signatures to the protocol from the third session, which he tied to a shared aim of broader economic and commercial links.

Regional issues also featured, with both sides urging restraint and de-escalation in the Gulf and backing diplomatic solutions. Pakistan pressed for safe navigation through the waterways of Hormuz and Bab-ul-Mandab, citing their weight for food and energy supplies. Dar also said Afghan soil must not be used against Pakistan, and he again criticised India's unilateral move to hold the Indus Waters Treaty in abeyance, calling it a material breach of international law.

At a glance

  • Pakistan and Bahrain agreed to speed up work on the Pakistan-GCC FTA.
  • A working group will be formed to handle bilateral trade and investment ties.
  • An energy working group is set to convene next month on oil, gas and minerals.

Originally reported by Business Recorder

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