Islamabad: The Federal Minister for Economic Affairs, Ahad Cheema, has articulated strategies to strengthen economic cooperation between Pakistan and the Czech Republic, during a meeting with H.E. Ladislav Steinhubel, the Czech Ambassador to Pakistan. Both parties agreed to establish sector-specific Joint Working Groups ahead of the inaugural session of the Pak-Czech Joint Ministerial Commission (JMC), scheduled for April 28-29, 2025, in Islamabad.
According to Press Information Department, Minister Cheema underscored the significance of the JMC in enhancing trade and investment ties, focusing on sectors with untapped potential. The minister noted that the current trade volume between the two countries stands at USD 84 million, highlighting the need for closer economic cooperation to boost this figure. Key areas for collaboration include renewable energy, information technology, healthcare, nanotechnology, agro-technology, mining, and green technologies.
Cheema also emphasized the potential for collaboration in electric vehicle manufacturing, expressing hopes for cooperation with the Czech Republic’s EV industry to establish manufacturing plants in Pakistan. The activation of the Agreement on Economic Cooperation, effective June 1, 2024, provides a foundation for enhanced bilateral relations, opening new avenues in energy, technology, and healthcare sectors.
The Minister highlighted Pakistan’s strategic position as a gateway between South, Central, and East Asia, presenting opportunities for mutually beneficial partnerships with the Czech Republic, known for its expertise in technology and innovation. He also stressed the importance of educational exchanges and manpower supply, noting that Pakistani students would gain access to scholarships at Czech universities. Efforts are underway to formalize labor exchange agreements to develop workforce skills and foster economic integration.
Ambassador Steinhubel reaffirmed the Czech Republic’s commitment to strengthening ties with Pakistan, recognizing its role as a key regional partner. He expressed optimism for the upcoming JMC session, expecting it to drive significant progress in expanding economic and trade relations.