A historic memorandum of understanding for cooperation in business and investment has been signed by the Trade Development Authority of Pakistan (TDAP) jointly with trade and investment bodies of three regions of Belgium, namely the Flanders Investment and Trade; Wallonia Export Investment Agency and Brussels Agency for Business Support, here, today.

This is for the first time that all the three regions of Belgium have jointly signed a MoU with any other country. On behalf of TDAP, Pakistan’s Ambassador to Belgium, the European Union and Luxembourg Mrs. Naghmana Alamgir Hashmi signed the MoU, whereas Mr. Dirk Van Streeteghem, Ms. Chantal De Bleu and Mr. Laurent Lamberts signed the documents for the three agencies, respectively.

Speaking on the occasion Ambassador Hashmi said that Trade between Pakistan and Belgium was constantly rising and for the last year there has been an increase of 49% in the bilateral trade. She said that Pakistan’s economy has taken an upward trajectory and the country is fast emerging as a suitable destination for trade and investment. She added that the MoU was long awaited and will provide very good foundation and frame work for enhancing economic and trade ties between the two countries. The Ambassador further added that present government’s policy was to create conducive environment for business in Pakistan and a liberal visa regime would soon be introduced to facilitate business visits to Pakistan.

Mr. Dirk Van Streeteghem, Director for Trade, Flanders Investment and Trade said that there has been a significant rise in the trade relations between the countries which was evident from ever increasing exchange of trade missions.

Ms. Chantal De Bleu, Director General Wallonia Export Investment Agency, who visited Pakistan in November 2018, said the trade mission last year was a big success and added that the MoU could help in taking up diversified actions for the mutual benefit of two countries like cross market networking.

Mr. Laurent Lamberts, Head of Exports Unit Brussels Agency for Business Support said that Pakistan’s is a growing economy and his agency would be interested to help Pakistani businesses for trade investment in the Brussels region.

Pakistan Embassy’s Minister Economic Mr. Omar Hameed, Commercial Secretary Mr. Salman Ahmed Choudri, Pakistan’s Honorary Consul General for Trade in Ghent Ms. Karin Zoeter and Honorary Consul General in Antwerp Mr. Luc Maurrens attended the signing ceremony besides representatives of various businesses and trade and investment agencies.