Pakistan, Singapore vow to further strengthen economic, diplomatic ties

Baku, October 30, AZERTAC Pakistan and Singapore on Friday reaffirmed commitment to strengthening bilateral relations, expanding economic cooperation and enhancing collaboration on regional and multilateral issues, according to the Associated Press of Pakistan (APP). Speaking at the delegation level talks between Deputy Prime Minister and Foreign Minister Ishaq Dar and Singaporean Foreign Minister Dr Vivian Balakrishnan here, the deputy prime minister observed that the depth of diplomatic relations between the two countries was not adequately reflected in their economic ties, stressing the need to unlock the significant potential for bilateral trade and investment. Emphasising economic diplomacy, Ishaq Dar said that promoting economic engagement had been among his key priorities since assuming office at the Foreign Ministry.

He expressed confidence that closer coordination between the two governments, particularly in facilitating businesses and investors, could take Pakistan-Singapore economic relations to a new level. The deputy prime minister also appreciated Singapore’s contribution to capacity building in Pakistan, noting that nearly 1,500 Pakistani officials had benefited from training facilities and programmes provided by Singapore. On investment cooperation, the deputy prime minister highlighted the role of Pakistan’s Special Investment Facilitation Council (SIFC), noting that its functions had been integrated into the Board of Investment (BOI) to provide investors with a streamlined, one-window facilitation mechanism. He said the arrangement would help potential investors access investment opportunities, sectoral profiles and relevant information, adding that Pakistani institutions could work closely with their Singaporean counterparts to explore new avenues of…