The head of the Pakistan Business Forum (PBF) for the Sindh Region, Malik Khuda Bakhsh, today pressed for the immediate activation of the Pakistan-Philippines Joint Business Council, advocating for the swift implementation of a proposed trade agreement and simplified visa procedures to fortify economic relations.
Malik Khuda Bakhsh underscored the critical need for the early execution of the proposed Preferential Trade Agreement (PTA) between the two nations to unlock substantial commercial potential.
He also urged the Philippines to streamline the visa process for Pakistani business figures and tourists, a move aimed at fostering greater connectivity and exchange between the countries.
The PBF official expressed his appreciation for a recent proposal by Pakistan and the Philippines to deepen their economic partnership. This initiative includes a Memorandum of Understanding between their respective investment boards and the formation of a joint working group dedicated to investment.
He articulated that a pressing requirement exists to enhance trade and investment collaboration with all friendly business nations, noting that significant untapped potential exists for expanded cooperation between Pakistan and the Philippines.
To realise this potential, he highlighted the importance of organising dedicated trade exhibitions and business forums, affirming that the Pakistan Business Forum stands ready to play a proactive role in facilitating such events.
Reiterating his central point, Malik Khuda Bakhsh stressed that reactivating the joint business council is essential for the business communities of both countries to contribute effectively to strengthening bilateral economic ties.
Additionally, he pointed to the necessity of improving cooperation within the banking and taxation sectors to create a more seamless financial environment for trade and investment.