Islamabad: In an effort to bolster economic relations and explore new investment opportunities, Pakistan and Sweden are seeking to enhance bilateral cooperation, focusing on sectors like technology, manufacturing, and sustainable energy. Federal Minister for Board of Investment (BOI) Qaiser Ahmed Sheikh recently met with the Swedish Ambassador to Pakistan, Alexandra Berg von Linde, to discuss these initiatives.

According to Press Information Department, the meeting highlighted the existing presence of over 40 Swedish companies in Pakistan, including notable names like Ericsson, IKEA, and H&M. Both parties acknowledged the potential to expand this commercial footprint by leveraging Sweden’s expertise in technology and innovation and Pakistan’s large domestic market and strategic location. Discussions also covered the renegotiation of the Pakistan-Sweden Bilateral Investment Treaty (BIT), signed in 1981, with Pakistan revoking the notice of termination of the treaty to maintain constructive investment relations.

The meeting also emphasized the importance of Pakistan’s Special Economic Zones (SEZs), which offer incentives such as income tax exemptions and investment facilitation measures to attract foreign capital. The Swedish Ambassador expressed interest in engaging with these opportunities and proposed further dialogue to address regulatory and operational challenges faced by Swedish companies in Pakistan. The engagement included plans for continued consultation on the BIT review, with a virtual meeting scheduled to discuss the modernisation of the treaty.

Education and sustainable energy were identified as additional areas for collaboration, with both countries exploring potential partnerships in university exchanges and energy transition initiatives. The meeting concluded with a commitment to sustained dialogue and closer engagement to foster a diversified and mutually beneficial economic partnership.