Pakistan and Spain agree to strengthen cooperation in trade, investment


ISLAMABAD: Pakistan and Spain on Thursday agreed to take concrete measures to strengthen cooperation in all spheres, including trade and investment.

The agreement came during the 4th round of Pakistan-Spain Annual Bilateral Consultations that was held in the capital.  Foreign Secretary Tehmina Janjua led the Pakistan side, while the Spanish delegation was headed by Secretary of State for Foreign Affairs Ildefonso Castro Lopez.

The two sides expressed satisfaction at the growth of bilateral trade, which crossed the US $ 1billion mark for the fourth consecutive year. It was agreed to take tangible steps to improve the mobility of businessmen, students and tourists.

The two sides reviewed the current state of bilateral relations, including political, economic, trade, investment and cultural cooperation. Consular matters also came under discussion.

The foreign secretary presented an overview of the achievements made by the government including the strengthening of democracy, political stability and maturity as well as an economic revival and energy security. The successes achieved in the fights against terrorism and implementation of the National Action Plan were also highlighted.

Exchange of views also took place on the UN reforms and it was agreed to further augment cooperation at the international and regional organisations.

The two sides agreed to hold the next round of Annual Bilateral Consultations in Madrid at mutually convenient dates in 2019.