ISLAMABAD, Nov 30 (APP): Deputy Prime Minister/ Foreign Minister Senator Mohammad Ishaq Dar, Sunday, said that a new Pakistan-Egypt Business Council would be established to institutionalize the cooperation and promote mutually beneficial commercial activities and business-to-business engagements.
Addressing a joint press conference along with visiting Foreign Minister of Egypt Dr. Badr Ahmed Mohamed Abdelatty, he said besides this decision, a Pakistan-Egypt Business Forum would also be established which would be co-chaired by them both, and its first meeting would be held in the second quarter of 2026 in Cairo to enhance trade, investment and economic cooperation.
Leading businesses from both countries would be represented in these foras, he added.
The DPM/FM said that both sides had decided to take steps for business to business (B2B) upscaling activities which were not surely consumerate with their bilateral trade of around $300 million considering the depth and affection both countries had.
He informed that Pakistan would share a list of 250 business houses representing key sectors of the economy across the board after due considerations, involving all the chambers and industries and businesses, through a transparent selection of those who really deserved and willing to work and enhance the bilateral businesses, investment and trade.
Initially, a list would be prepared by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and relevant chambers and these businesses would be facilitated to enhance the commercial engagements, he said, adding subsequently, they would be declared after due diligence in Egypt in the whitelist.
The DPM/FM said that visas facility would also be enhanced to businesspeople while after six months, they would prepare another list of 250 taking the list to total 500.
The Egyptian foreign minister had also agreed to process the similar list, he added.
Dar said since 2010, the joint ministerial meeting had not taken place between the two countries, so they had decided that in the first quarter next year, senior officials from the foreign ministries would hold bilateral political consultations.
He also welcomed Egyptian foreign minister’s announcement of doubling of scholarships for the Pakistani students to study the religious education.
Foreign Minister of Egypt Abdelatty, in his remarks, conveyed sincere condolences and sympathies from his government and the people over tragic loss of lives in recent terrorists’ attacks and reaffirmed complete solidarity with Pakistan in its efforts to eliminate terrorism.
He said Egypt and Pakistan shared strong and historic ties rooted in cultural, religion, friendship and respect sharing common views on regional and international foras.
He said the cultural ties and people to people relations had strengthened with passage of time. Their meeting focused on enhancing bilateral cooperation across all sectors for the mutually benefits of the two people.
The Egyptian minister said they also discussed the regional and international issues and resolution of conflicts through dialogue and under UN charter, adding Egypt appreciated Pakistan’s steadfast support to his country at multilateral forums.
He also reiterated Egypt’s support to two-state solution to Palestine issue and appreciated Pakistan’s support to Egypt in its efforts to find a solution.
He said both sides agreed to take concrete and solid steps for trade, investment and businesses promotion and invited Pakistani businesses to explore avenues of investment and cooperation in Egypt.
The minister also stressed upon increasing the connectivity initiatives between the two countries.