Pakistan keen to strengthen economic engagement with OIC countries: Sheikh

ISLAMABAD – Federal Minister for Investment, Board of Investment (BOI), Qaiser Ahmed Sheikh met with Zehra Zümrüt Selçuk, Director General of the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC), on the sidelines of the International Education Summit.

Key points

• Qaiser Ahmed Sheikh remarked Pakistan welcomes investment from OIC member states and is committed to creating an enabling environment for investors.
• Qaiser Ahmed Sheikh stressed that investment flows are closely linked with human capital, education and skills development.
• Zehra Zümrüt Selçuk appreciated the federal minister's efforts to promote investment, economic development and international engagement.
• During the cordial session, both sides appreciated each other's work and contributions towards promoting economic development and cooperation among Islamic countries.
• He remarked Pakistan is keen to strengthen economic engagement with brotherly OIC countries and facilitate greater cross-border investment, joint ventures, business-to-business linkages and technology partnerships.

Meanwhile, the session focused on strengthening economic and institutional cooperation among Organisation of Islamic Cooperation (OIC) member countries, with particular emphasis on investment, trade, education, skills development, entrepreneurship and human capital development. During the cordial session, both sides appreciated each other's work and contributions towards promoting economic development and cooperation among Islamic countries. They expressed a shared desire to build stronger institutional linkages and translate common objectives into practical investment and economic partnerships. A number of MoUs to be signed during Saudi minister's visit to Pakistan.

Federal Minister Qaiser Ahmed Sheikh highlighted the importance of enhancing investment cooperation among OIC countries, saying that the collective economic strength, resources, markets and human capital of member states offer significant opportunities for mutually beneficial investment partnerships.

He remarked Pakistan is keen to strengthen economic engagement with brotherly OIC countries and facilitate greater cross-border investment, joint ventures, business-to-business linkages and technology partnerships. He emphasised that stronger institutional cooperation can support connect investors and businesses throughout OIC markets and unlock new avenues for sustainable economic expansion. The federal minister briefed the SESRIC Director General on Pakistan's efforts to improve its investment climate and facilitate investors. He highlighted ongoing initiatives to simplify regulatory procedures, reduce unnecessary business hurdles, improve ease of doing business and provide investors with a smoother and more predictable business experience.

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Qaiser Ahmed Sheikh stressed that investment flows are closely linked with human capital, education and skills development. He remarked that cooperation among OIC countries should therefore go beyond traditional trade and encompass investment in education, technology, innovation, skilled human resources and emerging sectors. Referring to the changing global economic landscape, the federal minister highlighted the growing importance of digitalisation, artificial intelligence, technology and knowledge-based industries. He remarked OIC countries can benefit significantly from sharing expertise, developing joint initiatives and encouraging investment in emerging sectors. Haroon calls for unlocking expansion potential of Pakistan's gemstones sector.

He further emphasised the need to promote partnerships between governments, investment institutions, universities, businesses and the private sector so that education and skills development are aligned with the requirements of investors and emerging industries. Zehra Zümrüt Selçuk appreciated the federal minister's efforts to promote investment, economic development and international engagement. She additionally expressed backing for strengthening cooperation with Pakistan and exploring avenues through which institutional collaboration can contribute to greater economic opportunities among OIC countries. PAFLA to hold national recognition ceremony for freelancers.

Both sides agreed that there is considerable scope for developing joint initiatives in investment promotion, business linkages, education, skills development and capacity building, particularly with a focus on creating opportunities for young individuals and supporting private-sector-led economic expansion. The federal minister and the SESRIC director general additionally discussed the importance of facilitating greater interaction between businesses and investors from OIC member countries. They agreed that stronger networks and institutional coordination can support identify investment opportunities, promote joint ventures and encourage the flow of capital, technology and expertise throughout Islamic countries.

Qaiser Ahmed Sheikh remarked Pakistan welcomes investment from OIC member states and is committed to creating an enabling environment for investors. He reiterated that Pakistan's strategic location, sizeable market, young population, natural resources and emerging investment opportunities offer significant potential for investors from Islamic countries. He emphasised that the administration is working to produce Pakistan a more attractive investment destination by improving regulatory frameworks, facilitating businesses and strengthening investor confidence.

Both sides additionally invited each other to visit their respective offices to continue the discussion and identify concrete areas of cooperation, particularly in investment promotion and economic partnerships.

Meanwhile, the session concluded with a shared commitment to strengthen Pakistan's engagement with OIC institutions and explore new avenues for investment, trade, entrepreneurship, education and economic cooperation that can contribute to shared prosperity throughout the Islamic world.

Meanwhile, the Board of Investment remains committed to promoting Pakistan as an attractive investment destination, strengthening international economic partnerships and facilitating mutually beneficial investment opportunities with OIC member countries.

In short, pakistan keen to strengthen economic engagement with OIC countries: Sheikh is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.