Ayesha Saba

A major focus of Pakistan's foreign policy is on enhancing and strengthening relations with Kuwait in order to maximize investment opportunities in various sectors, particularly the energy and trade sectors, reports WealthPK. In a recent conference on "Effective Nuclear and Radiation Regulatory Systems: Preparing for the Future in Rapidly Changing Environment," Kuwait's Minister for Finance Abdul Wahab Al-Rasheed and Pakistan’s Minister for Planning, Development, and Special Initiatives Ahsan Iqbal reached an agreement.

Wahab Al-Rasheed appreciated the role of Pakistani workers in the development of Kuwait and appreciated the strong cultural, religious and economic ties between the two nations. He agreed that there was a lot of room for expanding bilateral economic cooperation.

Talking to WealthPK, research fellow at the Islamabad-based Institute of Strategic Studies (ISS) Sarah Akram said, “Pakistan’s changed foreign policy outlook now focused on geo-economics as opposed to geopolitics, which is a welcome and wise step. Pakistan and Kuwait undoubtedly have a strategically important and economically lucrative relationship. Both the countries are developing and are focused on boosting their economies in the global markets.”

“In order to reduce business and economic gaps, both the countries need to work together to create opportunities. Their good relations will be an element that needs to be analysed in terms of creating more opportunities for the people and businesses,” she said.

“Pakistan is heavily dependent on imported energy, particularly oil and gas, and has been struggling to meet its needs. Currently, we are in the process of building new power plants and expanding the transmission and distribution networks. Kuwait, on the other hand, has expertise in construction and operation of oil and gas pipelines and storage facilities. Therefore, by working together, both the countries can potentially benefit from each other's expertise and resources in the development of energy infrastructure,” she added.

“Pakistan should also explore other sectors such as agriculture, pharmaceuticals, and IT services, which have the potential for growth and demand in the Kuwaiti market. Diversifying its export base will not only help Pakistan reduce its reliance on a single sector but also increase its competitiveness and resilience in the global market,’’ she said. Sarah said Pakistan had a large pool of skilled workers who were looking for employment opportunities, while Kuwait had a demand for skilled labour in various sectors.

“According to a recent report, over 100,000 Pakistanis live in Kuwait and most of them belong to Punjab and Khyber Pakhtunkhwa. Both the governments can also collaborate to provide training and upskilling programs for the Pakistani workers in sectors that are in demand in Kuwait, such as construction, healthcare, and IT,” said the ISS research fellow.

Credit: Independent News Pakistan-WealthPk