Pak-Qatar economic partnership to reach $9 billion

Qatar Emir Sheikh Tamim bin Hamad Al Thani visited Pakistan in the month of June 2019. During his visit the two sides signed several memoranda of understanding for trade and investment, tourism and business and for cooperation in financial intelligence.

Qatar further announced that it is making $3 billion worth of new investments in Pakistan, in the form of deposits and direct investments to stabilize the financial situation of Pakistan. Prime minister’s adviser on finance, Dr Abdul Hafeez Shaikh, thanked the Emir for “announcing $3 billion in deposits and direct investments for Pakistan and for Qatar’s affirmation to further develop relations between the two countries.”

Pakistan and Qatar signed three memoranda of understanding (MoUs) on trade and investment and cooperation on financial intelligence and tourism. The signing of the MoUs was witnessed by Prime Minister Imran and Qatari Emir Sheikh Tamim. The MoUs were related to the establishment of the Pakistan and Qatar Joint Working Group on Trade and Investment, cooperation in the field of tourism and business events and cooperation in the exchange of financial intelligence related to money laundering — associated offences and terrorism financing. A very important MoU was signed between Qatar’s Financial Information Unit and Pakistan’s Financial Monitoring Unit.