Prime Minister Shehbaz Sharif announced on Thursday that the Gulf Cooperation Council Free Trade Agreement (GCC FTA) between Pakistan and GCC member states has been “nearly finalised” and is expected to be signed soon.
Speaking to the business community in Manama, he said the agreement would substantially boost Pakistan’s trade with Gulf countries, especially Bahrain. The premier arrived in the Bahraini capital a day earlier and met the country’s leadership at Al Qudaibiya Palace for delegation-level talks.
Shehbaz Sharif noted that the GCC FTA would unlock new avenues of economic cooperation, investment and market access, urging Bahraini investors to tap into opportunities in Pakistan’s agriculture, industry, IT and fintech sectors.
He invited Bahraini businesses to partner with Pakistani firms, stating that he addressed them not only as prime minister but as the “CEO of a nation eager to partner” with investors willing to pursue joint ventures. He highlighted the shared cultural and religious ties between the two countries and stressed the need to transform these relations into stronger economic cooperation.
The prime minister also pledged to transform Pakistan’s large youth population into a skilled workforce through training in IT, artificial intelligence and vocational education.
Appreciating the contribution of the Pakistani community in Bahrain—over 100,000 strong—he said they had remitted $484 million last year, strengthening the national economy. He thanked Bahrain’s leadership for their warm hospitality and praised the kingdom’s progress in economic growth, innovation and human-focused development.
Earlier, Bahrain’s Finance Minister Salman bin Khalifa Al Khalifa acknowledged the longstanding role Pakistanis have played in Bahrain’s development, noting Pakistan’s significant contribution to Bahrain’s financial sector for more than five decades.
He highlighted Bahrain’s rapid transformation under Vision 2030 and its expanding digital infrastructure, which opens further opportunities for Pakistani firms in AI, cybersecurity and software engineering.
In a separate meeting, Deputy Prime Minister Ishaq Dar and Bahrain’s finance minister agreed to establish joint teams to outline future cooperation in finance, banking, commerce and the wider economy. Both sides also discussed closer collaboration between their central banks and Bahrain offered to share its expertise in fintech with Pakistan.
