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More trade pacts with Oman likely

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    More trade pacts with Oman likely

    More trade pacts with Oman likely

    By Our Reporter

    ISLAMABAD, April 21: The Omanese minister for commerce
    and industry, Maqbool bin Ali bin Sultan, has emphasized that
    cordial relationship between the two countries should be expanded
    into greater economic co-operation.

    The Omanese minister called on the federal minister for commerce,
    industries and production, Abdul Razak Dawood, here on
    Saturday. He also extended an invitation for a visit of a trade
    delegation from Pakistan to explore the possibilities of economic co-operation.

    He said the signing of a joint agreement on April 22 for an investment of Rs105 million between the
    two countries paved the way for greater interaction in the economic sector.

    Mr Dawood briefed the Omanese minister about Pakistan's liberal investment policy and pointed out
    sectors for investment.

    The two sides agreed to convene a Pakistan-Omanese joint ministerial commission meeting shortly.

    The federal minister for petroleum and natural resources, Usman Aminuddin, said there existed many
    opportunities of Pakistan-Oman co-operation in the oil and gas sector and Pakistan would welcome
    the Omani investment in the uplift activities.

    He expressed these views while talking to the Omani minister of commerce and industry, Maqbool bin
    Ali bin Sultan, who called on him here on Saturday.

    Mr Aminuddin briefed his counterpart about the ongoing and future developmental activities in the
    upstream and downstream oil and gas sectors, privatization process, PARCO refinery, proposed
    Pakistan-Iran Coastal Refinery, switching over to power generation units from furnace oil to gas fuel
    and the steps taken by the government to explore and exploit hydrocarbon reserves at a fast pace.

    He explained the salient features of the new offshore exploration policy.

    ECO:Turkish Ambassador to Pakistan Ali Vural Oktem has said ECO member states have great
    potential to promote economic ties in the field of energy, petroleum, and natural gas resources, besides
    tourism, adds APP.

    The ECO member countries must step up co-operation for optimum utilization of energy resources
    including tourism, he said in his keynote address on Role and Potential of ECO for member countries,
    organized by the Society for International Development in collaboration with Friedrich Ebert Stiftung.

    Oktem said tourism could play a vital role in the member states to boost their economies. He added
    strengthening of historical and cultural ties among the people of ECO region would facilitate
    commercial relations.

    He said, after the liberation of newly-independent Central Asian States, Turkey believes the ECO
    region should be inter linked through roads, railways and modern communication systems.

    This will provide the landlocked states of ECO an easy and secure access to the outside world,
    including European Union markets.

    The ambassador said all ECO countries should follow integrated economic policies to cope with the
    global trade challenges.

    The early completion of communication networks is imperative in this connection, he added.

    He said Turkey wanted to be an active participant in the socio-cultural interaction among the people of
    the region and for the building of a network of roads and railways.

    He said the ECO has realized several important joint projects with organizations like UNDP,
    UNCTAD, IDB, Asean and European Union.

    He said private sector participation should be encouraged in all fields, and measures should be taken
    to promote mutually beneficial joint ventures in the region.

    The ECO chamber of commerce is playing an important role in bringing the private sector of the
    member countries together on different forums, and this effort should be supported by all members,
    the ambassador added.

    The Islamic Development Bank, and Asian Development Bank can finance these projects, he said.

    Additional foreign secretary Aziz Khan, said the technological advances have brought about a major
    change in globalization and world trade. The developing countries, he said have to accept globalization
    as a reality.

    He emphasized that people should be educated to remove the misgivings about globalization.

    President, Society for International Development, and other members also spoke on the occasion.


    Excellent news, pak is making more friends and solidifying already existing friendships in the ME, and esp with our close and more economically sound friends.
    This is from the dawn.

    You can't fix stupid. So might as well troll them!

    Pakistan, Oman agree to set up Investment Company
    (Updated at 1800 PST)
    ISLAMABAD: Pakistan and Oman Sunday agreed to set up a joint
    company to promote investment and trade links, reports said.

    Omanís Commerce and Industry Minister Maqbool bin Ali bin Sultan and
    Pakistani Finance Minister Shaukat Aziz signed the agreement.

    From the News, even better news.

    Oman, Pakistan to take economic co-operation to new heights:
    (Updated at 1800 PST)
    SLAMABAD: Chief Executive General Pervez Musharraf on Sunday said
    Pakistan and Oman were serious to take their economic co-operation
    to the new heights.

    "The first thing that emerged was that there is a serious desire to
    collaborate with each other to take our relations to the new heights,"
    he told a group of reporters soon after his wide- ranging talks with
    Sultan Qaboos Bin Said, here on Sunday afternoon.

    You can't fix stupid. So might as well troll them!