Pakistan-GCC free trade pact nears completion as PM Shehbaz courts Bahraini investors

MANAMA (Dunya News) – Prime Minister Shehbaz Sharif on Thursday announced that the long-anticipated Gulf Cooperation Council Free Trade Agreement (GCC FTA) is in its final stages and expected to be signed soon – a development he said would markedly accelerate Pakistan’s trade with GCC states, particularly Bahrain.

Speaking to leading Bahraini businessmen in Manama, a day after delegation-level talks at Al Qudaibiya Palace, the prime minister said the agreement would unlock new pathways for economic cooperation, foreign investment, and market access. He encouraged Bahraini investors to explore Pakistan’s potential in manufacturing, agriculture, information technology, and fintech, noting that Pakistan was ready for long-term partnerships.

“This will strengthen trade between Pakistan and the GCC countries, especially Bahrain,” he remarked, urging Bahraini entrepreneurs to build alliances with Pakistani companies. Shehbaz said he was addressing them not only as Pakistan’s prime minister but as the “CEO of a nation” aiming for joint ventures, facilitation of investment plans and a mutually beneficial economic journey.

Thanking King Hamad bin Isa Al Khalifa and Crown Prince Salman bin Hamad Al Khalifa for their hospitality, Shehbaz said Pakistan and Bahrain shared a relationship rooted in cultural affinity, religious bonds, respect and decades-long strategic cooperation. He stressed the need to transform these strong ties into robust economic engagement.

The premier highlighted Pakistan’s large youth population as a potential economic asset, saying the government would convert this “youth bulge” into strength through training in IT, artificial intelligence, vocational skills and technical education.

Shehbaz also praised the 100,000-strong Pakistani community living in Bahrain, acknowledging their contribution to the kingdom’s development and their $484 million in remittances to Pakistan last year. He assured them that “Pakistan’s doors – and my own door – will always remain open”.

Bahrain’s Finance Minister Salman bin Khalifa Al Khalifa, in earlier remarks, said Pakistanis across generations had played an integral role in Bahrain’s progress, especially in the banking and financial sectors, where Pakistan’s institutions have been active for more than half a century.

He said Bahrain was undergoing a major economic transformation as it leads the region in innovation, sustainability and digital development. With advanced subsea cables and expanding digital infrastructure, Bahrain aims to become a regional hub for data, AI, cybersecurity and advanced digital services — areas where Pakistani tech companies can find significant opportunities.

The finance minister added that as Bahrain pushes forward with Vision 2030 and begins laying the foundation for Vision 2050, it views Pakistan as a partner in shaping a shared economic future.

Separately, Deputy Prime Minister and Foreign Minister Ishaq Dar met Bahrain’s minister for finance and national economy. The two sides agreed to form joint working groups to frame a roadmap for enhanced cooperation in finance, banking, commerce and economic affairs. Bahrain offered to share its fintech expertise, while both ministers also discussed deeper collaboration between the central banks of the two countries.