PIEDMC and Belarus Consulate sign agreement to strengthen trade ties

PIEDMC CEO Ali Moazzam Syed and Honorary Consulate General Belarus Waleed Mushtaq signed an agreement to boost bilateral ties between both the countries.

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An agreement to enhance bilateral trade between the two countries was signed between PIEDMC and Belarus Consulate on Wednesday. The MoU was signed by the CEO PIEDMC Ali Moazzam Syed and Honorary Consulate General Belarus Waleed Mushtaq. Belarus showed interest in the auto sector, economic zones and tractor manufacturing.

Both sides would support each other to explore avenues of potential growth and chambers delegations and trade information will be exchanged to promote trade between the two countries, read the MoU.

Pakistan was one of the first countries to recognize Belarus after the dissolution of the Soviet Union in 1991. Pakistan and Belarus have held relations since then.

Belarus’s major exports to Pakistan include tractors and their spare parts, trucks, potash fertilizers, synthetic yarns and synthetic fibers, tires, machine tools, polycarboxylic acids (phthalic anhydride), newsprint, baby food (dry mixes). Pakistan on the other hand, exports rice, vegetables, fruits and other food products, products from leather, fabrics, textiles, sports equipment, surgical instruments and manicure sets to Belarus.

Read More: PIEDMC’s performance reviewed by Minister

Ambassador of Belarus Andrei Metelitsa, Chairman PIEDMC Syed Nabil Hashmi, Board Directors Usman Ali Malik, Dr Samira Rehman and General Manager Business Development Amina Faisal Shah were also present at the signing ceremony.

Speaking on the occasion, Belarus Ambassador Andrei Metelitsa said that there are fraternal relations between Pakistan and Belarus. Ensuring his support, Syed Nabil Hashmi said that PIEDMC would provide all possible assistance to Belarusian investors and companies in Pakistan. He also offered to set up an office of Belarusian Consulate in Quaid-e-Azam Business Park to strengthen cooperation.

There is a huge gap in the electric two-wheeler in which cooperation can be enhanced. The dream of industrial revolution cannot be fulfilled without the support of modern technology and knowledge, he commented.

The dream of industrial revolution could not be fulfilled without the support of modern technology and knowledge, said Syed Nabil Hashmi.

QABP-  PIEDMC’s much-anticipated SEZ

PIEDMC is a section 42 company incorporated under Companies Ordinance of 1984. It is an autonomous, not-for-profit entity owned by the Government of Punjab and is run by a Board of Directors (BOD) comprising of private sector industrialists and ex-officio members.

PIEDMC, initially conceived by Jehangir Khan Tareen when he was an advisor to the Pervaiz Illahi government in 2002, in Musharraf era, has proved to be one of the most successful examples of a Public-Private Partnership. Since 2002, its accomplishments in the form of estates like Sundar Industrial Estate, Multan Industrial Estate & QIE serve as successful and completed model projects.

The keenly awaited Quaid e Azam Business Park (QBP) is also being developed by PIEDMC. QBP, a large industrial state, spread over 1536 acres of land once completed as per its envisaged master plan and business concept, can attract investments of around Rs 250 billion. This modern industrial state enjoys the status of a special economic zone (SEZ) and is said to have the capacity to generate two hundred and fifty thousand new jobs for skilled and unskilled workers. The Industries Department of the Punjab Government is especially keen on getting QABP completed as soon as possible to stimulate business and investments across Pakistan’s largest province – to offset the earlier stagnation caused by corona pandemic.

(QABP) will also be receiving its own interchange connecting it with Motorway M-2. The inauguration of work for this interchange was expected in the first week of January, however, the Covid-19 pandemic which has impacted all facets of Pakistan’s economy in two separate phases disrupted the plans, and the inauguration had to be postponed. In December, Chief Minister Punjab Usman Buzdar, himself became ill with coronavirus. He has now recovered and it is anticipated that the inauguration which got delayed because of his unavailability would take place very soon.

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