Acting President Gilani invites Portuguese investment through SIFC initiative

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Acting President Gilani invites Portuguese investment through SIFC initiative

ISLAMABAD, 11 Feb: /DNA/ – Acting President Syed Yousaf Raza Gilani has stated that Pakistan and Portugal share a strong bond of friendship, with bilateral relations founded on mutual respect and trust. Mr. Gilani made these remarks during a meeting with the Ambassador of Portugal, Mr. Manuel Frederico Pinheiro da Silva, at Aiwan-e-Sadr, Islamabad, on Tuesday.

He highlighted that Pakistan and Portugal have enjoyed diplomatic ties for the past 75 years and emphasized the need to celebrate this enduring relationship at all levels to further strengthen cooperation. While acknowledging the robust diplomatic foundation, Mr. Gilani stressed the importance of diversifying collaboration, particularly in sectors such as the blue economy, green economy, agriculture, trade, sports, and information technology.

The Acting President underscored the need to enhance people-to-people connections through frequent parliamentary exchanges and high-level interactions for mutual benefit. He extended an invitation to the President of Portugal to visit Pakistan and noted that the Pakistani Foreign Minister and Deputy Prime Minister had already invited their Portuguese counterpart. Mr. Gilani expressed confidence that such high-level engagements would significantly reinforce bilateral relations.

He further remarked that Pakistan and Portugal actively cooperate at the Inter-Parliamentary Union (IPU) and other international forums, which reflects their shared commitment to global issues. He also noted their close collaboration at multilateral platforms, including the United Nations. Highlighting the role of parliamentary friendship groups, he called for regular interactions to discuss matters of mutual interest.

Mr. Gilani reiterated Pakistan’s appreciation for the Generalized Scheme of Preferences (GSP+) and expressed hope for Portugal’s continued support in securing the next GSP+ arrangement. He also briefed the Ambassador on Pakistan’s Special Investment Facilitation Council (SIFC), which offers a streamlined, one-window operation for foreign investors in key sectors such as mining, energy, agriculture, and defense cooperation. He encouraged Portuguese companies to explore investment opportunities in these areas.

Expressing satisfaction over the scheduled high-level interaction between President Asif Ali Zardari and his Portuguese counterpart, Mr. Gilani hoped this meeting would mark the beginning of a new chapter in bilateral relations.

He also emphasized that Pakistan has a large pool of young professionals across diverse fields and stressed the need for a Labour Mobility Partnership Agreement with Portugal to establish a structured framework for cooperation in this sector. Additionally, he called for the implementation of existing Memorandums of Understanding (MOUs) and urged Portugal to finalize the bilateral agreement for visa exemptions for diplomatic and official passport holders.

Mr. Gilani acknowledged the growing Pakistani community in Portugal and recognized its potential to further strengthen people-to-people ties. During the meeting, he paid rich tribute to the late Prince Karim Agha Khan IV, lauding his invaluable contributions to the economy, hospitality, health, and education sectors, as well as his unwavering social services for underprivileged communities worldwide.

The Portuguese Ambassador thanked Mr. Gilani for his remarks and reaffirmed Portugal’s commitment to strengthening bilateral relations with Pakistan. He agreed that enhanced mutual cooperation would further boost ties between the two nations.

In closing, Mr. Gilani invited the Ambassador to visit Multan and engage with the Multan Chamber of Commerce and Industry to explore avenues for economic collaboration.