Pak, Egypt agree to establish JBC
By Ali Imran

ISLAMABAD—Pakistan and Egypt on Friday signed four Memorandum of Understanding (MoU) pertaining to promotion of ties in the fields of trade, economy and investment and resolved to enhance volume of bilateral trade.
The Joint Economic Mission of two countries after three days of meeting reached the consensus to set up a Joint Business Council (JBC). Khurshid Mahmood Kasuri and his Egyptian counterpart Ahmad Abul Ghais were also present on the occasion.
The four MoUs include formation of Pak-Egypt Joint Business Council, programme of cultural exchange from 2006-10, promotion of the cooperation of foreign services academy and elimination of visa for the diplomatic passport holders.
On the occasion, Khurshid Mahmood Kasuri told reporters that the JBC would help promote economic and trade cooperation between the two countries. He said that Egypt and Pakistan have 148 million bilateral trade, which should be enhanced. In this connection, he said that the meeting of the JBC must be held regularly to enhance the volume of bilateral trade.
Kasuri said that Pakistan economy was rapidly growing and the country’s GDP was seven percent. He said that the foreign investment would reach to five billion dollars this year that reflected the foreign and national investors trust in the government policies.
Kasuri said, we are eagerly waiting for the Egyptian President and Prime Minister visit to Pakistan.
The Egyptian FM said that his country wanted to enhance cooperation with Pakistan in all sectors. He invited Pakistani businessmen to invest in pharmaceutical and textile sectors in Egypt. He said that the Egyptian President and Prime Minister would shortly visit Pakistan.