Staff Report
ISLAMABAD: Pakistan has invited Singaporean companies to explore emerging investment opportunities in special economic zones (SEZs) under China Pakistan Economic Corridor, especially in the digital economy, Fintech, and agri-food.
Pakistan and Singapore held the bilateral political consultations (BPC) in virtual format and discussed the entire gamut of the relations including cooperation in political, economic, defense, security, academic, science, technology, technical training, environment, culture, and tourism.
Asim Iftikhar Ahmad, Additional Secretary (Asia-Pacific), and Ng Teck Hean, Deputy Secretary, Asia Pacific, and Southeast Asia, Ministry of Foreign Affairs of Singapore, led their respective delegations.
The two sides renewed strong desire and resolve to consolidate and further enhance cooperation in diverse fields in line with their shared objectives of peace and development.
They noted the importance of regular interaction and dialogue under existing mechanisms and exchange of high-level visits to impart further momentum to the relationship.
The additional secretary highlighted Pakistan’s focus on geo-economics leveraging peace and security, development partnerships, and connectivity. He stressed the importance of translating the long-standing friendship and political goodwill between Pakistan and Singapore into a mutually beneficial substantive economic relationship with a focus on trade and investment, connectivity, and development cooperation, given that the two countries were gateways to their respective regions. He also thanked the government of Singapore for the generous donations by Temasek Foundation to assist Pakistan’s COVID-19 response in the early phase of the pandemic.
The Deputy Secretary said Singapore looked forward to expanding cooperation in existing and new fields of mutual interest and enhancing bilateral exchanges, especially high-level visits.
The two sides also noted the complementarities and potential of trade in services. Singaporean companies were invited to explore emerging investment opportunities in Pakistan in sectors such as digital economy, Fintech, and agro-food, besides CPEC-related SEZs.
In the context of the regional situation, the additional secretary shared Pakistan’s perspective on Afghanistan and the imperative of a just and peaceful resolution of the Jammu and Kashmir dispute for regional peace and stability.
The two sides also exchanged views on ASEAN, and Pakistan’s Full Dialogue Partnership. It was also agreed to continue close cooperation in the multilateral domain particularly at the United Nations.
