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Egypt Evince Keen Interest in Import of Rice, Wheat and Tobacco

 Islamabad, January 8, 2002.
Egypt has great interest in importing Rice, Wheat and Tobacco from Pakistan. These views were expressed by Mr. Mohammad Shafique Gabr, Chairman, Egyptian Board of Directors and Chief Executive of ARTOC group for Investment and Development in a meeting with Federal Minister for Commerce and Industries, Mr. Abdul Razak Dawood, here today.

Mr. Shafique who is leading Egyptian trade delegation to Pakistan, lauded the dedication and commitment shown by the Pakistan's Government in facing the difficulties after the sad incident of 11th September. He admired the GOP for withstanding to great challenges of Export recession and unemployment due to its effective coalition partnership against terrorism.

Minister for Commerce, Industries and Production, Mr. Abdul Razak Dawood said that Pakistan was producing fine quality of Rice, Wheat and Tobacco. All these commodities are already on the major Trade list and exports of these items have already been carried out to Iran and Iraq.

Mr. Razak said that Egyptian investment in the import of these items and joint ventures in garment manufacturing will be welcomed. He further said that apart from having surpluses in these areas, the adequate chances for future growth also existed. The Government is pursuing the completely free market management and deregulation policy which is conducive for the foreign importers, he added.

The Egyptian head of the delegation Mr. Shafique said that his government was exploring the possibility of establishing a garment factory with the joint venture of Pakistan, Egypt and Jordan. He said that another trade delegation will be visiting Pakistan at the end of March 2002 to undertake joint investment ventures.

Federal Secretary Industries and Production, Dr. M. Akram Shaikh apprised the delegation about tremendous amount of upward movement in Pak trade and Reserves which is resulting in strengthening of Pak Rupee in the international market as well as economic stability.


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