Islamabad: Federal Minister for Economic Affairs Ahed Cheema on Thursday discussed key strategies to enhance economic cooperation between Pakistan and the Czech Republic.
Federal Minister for Economic Affairs Ahad Cheema expressed his enthusiasm for the upcoming inaugural session of the Pakistan-Czech Joint Ministerial Committee during his meeting with Ladislav Steinhubel, Ambassador of the Czech Republic to Pakistan, said a press release issued here.
The two sides agreed to form sectoral Joint Working Groups (JWGs) before the JMC to make it more productive. Ahed Cheema stressed the importance of the Joint Ministerial Conference (scheduled to be held from 28 to 29 April 2025 in Islamabad) in promoting deep trade and investment relations, especially in sectors with untapped potential, and stressed Pakistan’s commitment to ensuring that the session yields viable results. Implementable and impactful.
The minister pointed out that the volume of trade between the two countries in the current fiscal year amounted to 84 million US dollars, and stressed the need to enhance it through close economic cooperation.
He added that renewable energy, information technology, healthcare, nanotechnology, agricultural technology, mining and green technologies are key areas of cooperation that can help boost trade.
The minister also highlighted the possibility of the two countries exploring the manufacturing of electric vehicles in Pakistan. He expressed his hope that the electric car industry in the Czech Republic would cooperate with Pakistan in order to establish electric car manufacturing plants in Pakistan.
The Minister welcomed the activation of the economic cooperation agreement between Pakistan and the Czech Republic, which entered into force on June 1, 2024 after completing the procedures and formalities.
This agreement provides a solid foundation for strengthening bilateral relations, and opens new horizons for cooperation across a range of sectors, including energy, technology, healthcare and others.
Minister Cheema stressed that Pakistan, given its strategic location as a gateway between South, Central and East Asia with access to the Middle East, has great potential for cooperation with the Czech Republic which is located in the heart of Europe.
He noted that the complementary strengths of both countries, especially the Czech Republic’s expertise in technology and innovation, provide a solid foundation for mutually beneficial partnerships in trade, investment and industrial cooperation.