FM Qureshi invites Austria to invest in CPEC SEZs

ISLAMABAD: Austrian Foreign Minister Alexander Schallenberg has expressed the desire to expand political and economic relations with Pakistan.

The Austrian foreign minister said this while addressing a press conference along with Foreign Minister Shah Mahmood Qureshi after a delegation level talks on Thursday.

The visiting foreign minister said that he is accompanied by twenty businessmen from his country and being world leaders in different areas such as hydrogen power, infrastructure, tourism and green technology, they are looking for new markets including the ones in South Asia including Pakistan.

Schallenberg said that both Pakistan and Austria also stand side by side in the fight against extremism and terrorism. He said, “We also want peace and stability in Afghanistan.”

Speaking on the occasion, Shah Mahmood Qureshi said that both sides have charted a way forward to promote the existing bilateral relations. He said, “Our talks today focused on the possibilities of trade and investment cooperation.”

Qureshi said Pakistan attaches great importance to its relations with Austria and considers it an important country of the European Union. He mentioned the excellent investment opportunities available for Austrian companies in Pakistan in the fields of renewable energy, tourism, housing, agriculture, and information technology.

He said the special economic zones under the China-Pakistan Economic Corridor (CPEC) also offer attractive incentives and tax concessions for Austrian investors. He hoped that Austria would continue to support Pakistan in the fourth biennial review of GSP+ status this year.

Qureshi said the Austrian businessmen will hold talks with their Pakistan counterparts and the Adviser on Commerce Abdul Razak Dawood to further explore the opportunities of cooperation. He pointed out that Pakistan is a market of two hundred million people and it has the potential of becoming the hub for regional trade.

Qureshi said Pakistan believes that constructive diplomatic and political engagement of the international community with Afghanistan would will lasting peace and stability. The foreign minister mentioned that Pakistan provided all possible assistance for the evacuation of diplomats, representatives of international organizations, NGOs and media persons from Afghanistan. He emphasised that joint and coordinated efforts will prevent human tragedy in Afghanistan.

He expressed confidence that the visit of the Austrian foreign minister to Pakistan would impart further impetus to the multifaceted Pakistan-Austria relationship.

Qureshi said he apprised his Austrian counterpart on serious human rights violations in Indian Illegally Occupied Jammu and Kashmir.

Responding to a question, the foreign minister hoped for a positive outcome of talks between Russia and Ukraine. Qureshi said that Pakistan has openly stated that war is not a solution and “we are advocating dialogue and diplomacy.”

He noted that the implications of war between Russia and Ukraine are beyond Europe and developing countries including Pakistan are feeling the pinch of it in the form of increasing prices of petroleum products.

He said that Pakistan has sent humanitarian assistance to Ukraine and wants establishment of a humanitarian corridor for the country.