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Category: World

This section brings you news reports from around the world, covering global events, politics, economy, and more. Stay informed with the latest international updates and developments.

  • Xiaomi unveils Xiaomi 13 and 13 Pro

    Xiaomi unveils Xiaomi 13 and 13 Pro

    BEIJING: Xiaomi unveiled 13 Series in collaboration with Leica. The phones include Xiaomi 13 and 13 Pro.

    The phone is available colors including white, black, flora green and mountain blue. It adopts a flat screen with matching flat edges for a clean and strong visual impact on the front.

    Xiaomi 13 Series is equipped with 4nm flagship processors from Qualcomm, the Snapdragon® 8 Gen 2 mobile platform. The new 1+4+3 fusion CPU architecture brings 37 per cent performance improvements while reducing power consumption by 47 per cent.

    The new Adreno GPU brings 42 per cent performance improvements while reducing power consumption by 49 per cent. In typical benchmark workloads, Snapdragon® 8 Gen 2 achieved almost 2x fps/watt.

    READ MORE: Price, specs of iPhone 11 in Pakistan

    Xiaomi 13 Pro also features double-curved ceramic body for uniform look that transitions smoothly especially into the camera module. It is available in four colors, Ceramic White, Ceramic Black, Flora Green (Ceramic) and Mountain Blue.

    Xiaomi 13 implements a screen-to-body ratio to 93.3 per cent with a 6.36″ full-screen AMOLED display and 1.61mm ultra-thin bezels.

    The displays of Xiaomi 13 and Xiaomi 13 Pro have excellent HDR capabilities, with a fullscreen brightness of up to 1,200nits and a peak brightness of up to 1,900nits for optimal viewing.

    READ MORE: Xiaomi 12T and 12T Pro released with exciting features

    Xiaomi 13 is equipped with 4,500mAh silicon-oxygen anode battery, with the highest energy density under the same power. It also supports 67W wired charging and 50W wireless charging.

    Xiaomi 13 Pro is equipped with a 4,820mAh battery and supports 120W wired charging and 50W wireless charging.

  • Ericsson study highlights benefits of 5G connectivity in emerging markets

    Ericsson study highlights benefits of 5G connectivity in emerging markets

    ISLAMABAD: A major new Ericsson (NASDAQ: ERIC) commissioned study by management consulting firm Analysys Mason highlights the potential economic, consumer and environmental benefits of 5G connectivity in 15 national emerging markets.

    With regulatory and government support, all fifteen countries could benefit from GDP growth between 0.3 and 0.46 per cent through 2035, with an estimated three-to-seven-fold cost-to-benefit ratio.

    Called the Future Value of Mobile in Emerging Markets, the report examines the impact of multiple 5G spectrum deployment options to facilitate enhanced mobile broadband and fixed wireless access (FWA) across consumer, industry, logistics, rural and public services clusters, and spanning several business case options, including verticals.

    The detailed methodology included using national government statistics and reports, Ericsson network insights and innovative mapping techniques – based on population density distribution and existing national infrastructure such as, road and rail networks, and agriculture – to create a cost-to-benefit model across the different deployment options.

    Deployment options are based on the starting assumption of having 5G baseline rollout added to existing mobile radio network sites.

    Additional options explore the extra benefits of adding Low-Band 5G spectrum coverage beyond the baseline (delivering wider geographical coverage at the lower end of 5G capabilities and suited to agriculture or logistics deployments) or Mid-Band 5G spectrum coverage – delivering smaller geographical coverage per site, but with higher capacity and speed, suitable for manufacturing, automation, industry and advanced services.

    Expanded Mid-Band 5G coverage is identified as the key success factor – with the potential to deliver about 80 percent of the economic benefits. Benefits from the Smart Industry and Smart Rural clusters account for 85-90 percent of the total economic benefits in each emerging market.

    Agriculture is a significant sector in all 15 countries – accounting for up to 10 percent of GDP in some markets.

    The report estimates that enhanced rural 5G coverage could deliver up to 1.8 percent uplift in long-term GDP from agriculture. 5G will also promote sustainable farming methods, increase efficiency and reduce agricultural waste.

    Study findings include:

    •             Baseline 5G deployment cost is estimated between USD 3-8 billion per country. An additional 20-35 percent investment is required to extend coverage

    •             Extending coverage beyond the baseline can generate significant GDP benefits from industrial adoption, especially from mid-band coverage extension

    •             Most countries are expected to generate overall economic benefits (GDP) three-to-seven times higher than the incremental cost of extending coverage

    •             Results suggest 5G mobile broadband can generate consumer surplus between USD 1-10 billion per country, with coverage extension giving 20-30 percent extra consumer surplus

    •             The social benefits enabled by 5G will be greatest from 5G-based FWA, smart factories, freight and logistics, agriculture and healthcare use cases

    •             Adopting 5G can help reduce emissions by supporting digital transformation in agriculture, freight and logistics, smart factories and construction

    The study highlights how governments, regulators and policy makers can support the 5G ecosystem to deliver the benefits.

    These include treating 5G as a national infrastructure with a 5G national strategy and roadmap; implementing 5G spectrum policies that facilitate speedier and widespread deployment, including trading off spectrum fees for deployment targets that meet connectivity policy objectives; implementing policies and procedures to make infrastructure deployment and site upgrades easier; working with communications services providers to enhance coverage in areas where commercially-led solutions are not viable; incentivizing the use and prominence of 5G in industry and manufacturing; promoting 5G in the public sector and promoting the environmental benefits of 5G solutions.

    Andrew Lloyd, Head of Government and Policy Advocacy, Ericsson, says: “This Analysys Mason Future Value of Mobile in Emerging Markets report provides a detailed breakdown, based on comprehensive research into realistic and achievable scenarios in each of the 15 countries, of the potential economic, social, environmental and national benefits of 5G in these markets. With the backing of governments, regulators and policy makers, each of these 15 countries, and their citizens, stand to benefit significantly from 5G connectivity. In addition to economic benefits, 5G can also reduce climate impact, increase social inclusion, wellbeing and tackle the digital divide in areas where fixed infrastructure availability is poor.”

    Janette Stewart, Partner, Analysys Mason, says: ”The study highlights the benefits from having the right spectrum available for 5G deployment, both for geographic coverage, for which the low-bands are very suitable, and in the 3.5GHz band where most of the high-capacity 5G deployments in other markets are already taking place.”

    The countries addressed in the report research are Bangladesh, Brazil, Chile, Colombia, Egypt, India, Indonesia, Malaysia, Mexico, Morocco, Nigeria, Pakistan, South Africa, Thailand and Turkey.

  • United States, Croatia sign income tax treaty

    United States, Croatia sign income tax treaty

    WASHINGTON: The United States and Croatia on Wednesday signed a comprehensive income tax treaty between the two countries, according to an official statement issued by US Department of the Treasury.

    In a ceremony held at the US Department of State today, Under Secretary of State for Economic Growth, Energy and the Environment Jose W. Fernandez and Croatia’s Minister of Finance Dr. Marko Primorac signed the treaty.

    The new tax treaty is the first of its kind between the United States and Croatia.

    “I am honored to sign the US-Croatia income tax treaty with you today, Finance Minister Primorac,” said Under Secretary Fernandez. “We look forward to taking this monumental step towards further strengthening trade and commercial ties between the United States and Croatia.”

    “The Treasury Department is pleased to conclude this new tax treaty with Croatia.  It is the first comprehensive tax treaty that the United States has signed in over ten years and reflects our current tax treaty policies and is a milestone in the Treasury’s efforts to expand the U.S. tax treaty network. We appreciate the collaboration Croatia showed throughout the negotiations,” said Lily Batchelder, Assistant Secretary (Tax Policy).

    The new tax treaty closely follows the US Model income tax treaty.  Key aspects of the new treaty include:

    Elimination of withholding taxes on cross-border payments of dividends paid to pension funds and on payments of interest;

    Reductions in withholding taxes on cross-border payments of dividends other than those paid to a pension fund, as well as royalties;

    Modern anti-abuse provisions intended to prevent instances of non-taxation of income as well as treaty shopping;

    Robust dispute resolution mechanisms including mandatory binding arbitration; and

    Standard provisions for the exchange of information to help the revenue authorities of both nations carry out their duties as tax administrators.

    The new tax treaty will enter into force after the United States and Croatia have notified each other that they have completed their requisite domestic procedures, which in the case of the United States refers to the advice and consent to ratification by the US Senate.

  • Global trade restrictions rising amid economic uncertainty, Ukraine War: WTO

    Global trade restrictions rising amid economic uncertainty, Ukraine War: WTO

    A report released by World Trade Organization (WTO) on Tuesday showed that trade restrictions are increasing in a context of economic uncertainty exacerbated by the COVID-19 pandemic, the war in Ukraine and the food security crisis.

    According to the latest WTO Trade Monitoring Report presented at a meeting of the Trade Policy Review Body, WTO members are introducing restrictions at an increased pace, particularly on food, feed and fertilizers. The stockpile of import restrictions in force also continues to grow.

    WTO Director-General Ngozi Okonjo-Iweala called on WTO members to refrain from adopting new trade-restrictive measures, particularly export restrictions, that can further contribute to a worsening of the global economic outlook and urged them to cooperate to keep markets open and predictable in order to allow goods to move around the world to where they are needed.

    “Members have increasingly implemented new trade restrictions, in particular on the export side, first in the context of the pandemic and more recently in the context of the war in Ukraine and the food security crisis. Although some of these export restrictions have been lifted, many others persist,” she said.

    “Out of the 78 export restrictive measures on food, feed, and fertilizers introduced since the start of the war in late February, 57 are still in place, covering roughly USD 56.6 billion of trade. These numbers have increased since mid-October, which should be a cause for concern.”

    “As I told G20 Leaders at their summit in Indonesia a few weeks ago, lifting those export restrictions is fundamental to reduce price spikes and volatility and to allow goods to flow to where they are urgently needed,” she added.

    During the review period for the report, from mid-October 2021 to mid-October 2022, WTO members introduced more trade-facilitating (376) than trade-restrictive (214) measures on goods (unrelated to the pandemic), with the average number of trade-facilitating measures per month at its highest since 2012.

    Most of the facilitation happened on the import side while most of the restrictions were on the export side. For the first time since the beginning of the monitoring exercise in 2009, the number of export restrictions outpaced that of import restrictions.

    The trade coverage of the trade-facilitating measures was estimated at USD 1,160.5 billion, and that of the trade-restrictive measures at USD 278.0 billion. The stockpile of import restrictions in force also continued to grow. By mid-October 2022, over 9 per cent of global imports continue to be affected by import restrictions implemented since 2009 and which are still in force.

    Initiations of trade remedy investigations declined sharply during the review period (10.9 initiations per month, the lowest since 2012) after reaching its highest peak in 2020 (36.1 initiations per month).

    These actions remain an important trade policy tool for many members, accounting for 37.4 per cent of all non-COVID-19-related trade measures on goods recorded. Anti-dumping continues to be the most frequent trade remedy action in terms of initiations and terminations.

    The implementation of new COVID-19-related trade measures decelerated over the past 12 months, with 45 such measures recorded on goods and four on services. Additional information communicated by WTO members mainly consisted of termination of existing measures or amendments of others.

    The number of new COVID-19-related support measures by WTO members and observers to mitigate the social and economic impacts of the pandemic fell sharply over the review period.

    Since the outbreak of the pandemic, 443 COVID-19-related trade and trade-related measures in the area of goods have been introduced. Most were trade-facilitating (246 or 56 per cent), while the rest were trade-restrictive (197 or 44 per cent). During the review period, members continued to phase out the pandemic-related measurers, and in particular the restrictive ones.

    According to information received by the WTO Secretariat, as of mid-October 2022, 79.2 per cent of the COVID-19-related trade restrictions have been repealed, leaving 27 export restrictions and 14 import restrictions in place. Although the number of the pandemic-related trade restrictions still in place has decreased, their trade coverage remains important at USD 134.6 billion.

    Since the outbreak of the pandemic, a consistent feature of the trade and trade-related measures taken in response to the COVID-19 crisis has been the frequent changes, adjustments and gradual roll-back of such measures to reflect the evolving situation.

    The updated lists of measures implemented in the context of the current pandemic are available on the COVID-19 page of the WTO website and cover the areas of goods, services and intellectual property as well as measures communicated by members on general economic support.

  • Nissan launches all new redesigned Serena

    Nissan launches all new redesigned Serena

    YOKOHAMA: Nissan launched all new redesigned model of Serena in Japan. The car features second-generation e-POWER system which is equipped with1.4 L engine. The system delivers more powerful and smooth acceleration with less engine noise.

    The sales of Serena will be started from December, and e-POWER variant will be started from next year.

    The price of car starts with 2,768,700 yen . The price of e-POWER model starts with 3,198,800 yen. The first model of Serena was launched in 1991 featuring the concept from the beginning being “Big, Easy, Fun”.

    The Serena is equipped with spacious seating, convenient utilities and the latest in cutting-edge technologies.

    The proPILOT 2.0 advanced comes on highest e-POWER grade namely “Luxion”. It is a system that enables hands-off driving in a single lane on a highway at speeds of 40 km/h or above.

    The Luxion is equipped with ProPILOT Park with memory, which records and recognizes parking space lines, marking the first time this technology has been adopted on a Nissan vehicle. The Luxion also has ProPILOT remote park.

    Steering assist with forward collision avoidance supports steering when avoiding obstacles in front of the vehicle. This technology is also first in the Nissan productions.

    The Serena is equipped with world’s first energy management technology that controls power supply when engine turns on and off in accordance with vehicle speed, traffic conditions and the navigation system. The reduced engine operation contributes to a quieter cabin.

    Various design and packaging approaches have been taken with aim of reducing motion-sickness. These include, wide, open view from inside of vehicle and an optimal display monitor positioning. The vehicle is equipped with new seat design that dampens occupant movement.

    The car features highly rigid steering wheel which enhances handling stability. The vehicle is crafted in such structure that deflects crosswinds and reduces shakiness at high speeds.

    The second-generation e-POWER system and tighter suspension enable smoother vehicle body movement. Close attention has been given to interior:

    Moreover, the car also features interior updates such as the windshield in the car which is the widest in the minivan category in the market. Serena features a switch-type shift for smart looks and ease-of-use.

    The seat material is water-repellent, a family friendly feature. The most spacious cabin in the minivan category enables all on board to stretch out and relax. The car has 120 mm of additional driver legroom compared to previous model of Serena.

    The car is equipped with multi-purpose center seat in the second row allows the vehicle to carry seven or eight passengers.

    The dual rear door allows easy loading and unloading, even in small parking spaces. The small back door at the top can be used when needed. The side passenger door comes with the hands-free, auto-open function.

    Air conditioning can be controlled by a simple, intuitive and innovatively designed touch panel, with independent controls for driver’s seat, passenger seat and rear seats.

    An optional 100V AC power source (1500 W) is available for e-POWER models, which can be used to operate electric appliances when outdoor or as a power source, especially helpful in emergencies.

  • Price, specs of Samsung Galaxy A53 5G in Pakistan

    Price, specs of Samsung Galaxy A53 5G in Pakistan

    Samsung Galaxy A53 5G was launched in Pakistan on December 27, 2021. The price of the phone with internal memory of 128 GB and RAM of 8 GB is Rs 103,999.

    The phone is available with Awesome Blue, Black, Peach and White color. Galaxy A53 5G offer holistic mobile experiences at a great value, powered by a brand-new processor, expansive and bright displays and two-day battery life. 

    READ MORE: Price, specs of Samsung Galaxy Z Flip 4 in Pakistan

    Galaxy A53 5G also features 5G connectivity, and with up to four generations of One UI and Android OS upgrades and up to five years of security updates. The mobile phone make sure that your experience is always awesome. The devices also feature Galaxy’s signature AI camera system, offering crisp and steady shots.

    Following are the complete specifications of Samsung Galaxy A53 5G:

    SIM SupportSingle SIM (Nano-SIM) or Dual SIM (Nano-SIM, dual stand-by)
    Phone Dimensions159.6 x 74.8 x 8.1 mm
    Phone Weight189 g
    Operating SystemAndroid 12, One UI 4.1
    Screen Size6.5 Inches
    Screen Resolution1080 x 2400 Pixels
    Screen TypeSuper AMOLED, 120Hz
    Screen ProtectionN/A
    Internal Memory128 GB
    RAM8 GB
    Card SlotmicroSDXC
    ProcessorOcta-core (2.4 GHz & 2.0 GHz)
    GPUN/A
    Battery typeLi-Po 5000 mAh, non-removable
    Front Camera32 MP
    Front Flash LightNo
    Front Video Recording4K@30fps, 1080p@30fps
    Back Flash LightYes
    Back Camera64 MP + 12 MP + 5 MP + 5 MP
    Back Video Recording4K@30fps, 1080p@30/60fps; gyro-EIS
    BluetoothYes
    3GYes
    4G/LTEYes
    5GYes
    RadioYes
    WiFiYes
    NFCYes (market/region dependent)
  • Hyundai signed MOU with EV battery manufacturer

    Hyundai signed MOU with EV battery manufacturer

    Hyundai Motor Group today signed MOU (memorandum of understanding) with SK On Co., Ltd, a leading EV battery manufacturer. They had signed to secure a supply of EV batteries in North America.

    The signing of the MOU took place at SK Group Headquarters in Korea, participated by Heung-soo Kim, Executive Vice President and Head of Corporate Future Growth Planning Division & EV Division of Hyundai Motor Group and Young-chan Choi, Chief Administrative Officer of SK On.

    Under the MOU, both parties will cooperate to provide SK On batteries to the Group’s plants in the U.S. after 2025 for the EV production.

    READ MORE: Hyundai launch N Vision 74 Concept car

    “Through the EV battery MOU, we will be able to further accelerate our efforts to secure EV leadership in the North American market,” said Executive Vice President Kim. “We expect the stable supply of EV batteries from SK On will also enable us to contribute to emissions reduction and meet climate goals in the market.”

    “We expect the cooperation between SK On and Hyundai Motor Group to create a big synergy,” SK On Chief Administrative Officer Choi Young-chan said. “Both sides can hold a solid position in the process of electrification in the North American auto market.”

    Hyundai Motor Group is accelerating electrification efforts with the global target to sell 3.23 million full electric vehicles annually by 2030. To realize this goal, the Group plans to establish a global EV production network that will ensure a stable supply of EVs around the globe.

  • Apple announces App Store Award winners of 2022

    Apple announces App Store Award winners of 2022

    Apple announced winners of 2022 at App Store Awards. They are awarded because of inspiring users to engage more deeply with the world, expand their imaginations, and stay connected to friends and loved ones.

    This year’s winners represent a diverse community of developers from around the world whose apps and games were selected by Apple’s global App Store editorial team for delivering exceptional experiences and making a profound cultural impact.

    Apple’s CEO said in a statement: “This year’s App Store Award winners reimagined our experiences with apps that delivered fresh, thoughtful, and genuine perspectives.”

    READ MORE: Price after tax of iPhone 14 Pro in Pakistan

    “From self-taught solo creators to international teams spanning the globe, these entrepreneurs are making a meaningful impact, and represent the ways in which apps and games influence our communities and lives.”

    The winners of App Store Awards are listed below:

    BeReal has been awarded for best iPhone App of the Year.

    GoodNotes 5 has been awarded for best iPad App of the Year.

    MacFamilyTree 10 has been awarded for best Mac App of the Year.

    ViX has been awarded for best Apple TV App of the Year.

    Gentler Streak has been awarded for best Apple Watch App of the Year.

    Apex Legends Mobile has been awarded for best iPhone game of the year.

    Moncage has been awarded for best iPad game of the year.

    Inscryption has been awarded for best Mac game of the year.

    El Hijo has been awarded for best Apple TV game of the year.

    Wylde Flowers has been awarded for best Apple Arcade game of the year.

  • Climate Change: A pandemic we must collectively address now

    Climate Change: A pandemic we must collectively address now

    (The article is written by Fida Kibbi, Vice President and Head of Marketing, Communications and Sustainability & Corporate Responsibility at Ericsson Middle East and Africa)

    During COP27, that took place in Egypt, world leaders have grappled over what must be done to curb global warming. Seven years ago, world leaders signed an international treaty to limit global warming to well below 1.5°C. Nonetheless, efforts remain insufficient to limit global temperature rise to 1.5 degrees Celsius by the end of the century.

    The ramifications and severity of climate change vary depending on where you live. In Africa, climate-related problems have been significant including the current floods in Nigeria and droughts in Somalia, Ethiopia, and Kenya as few examples to mention.

    Climate change needs to be seen as a critical matter and dealt with in the same manner as a pandemic. The actions we take today will determine the scale and impact of the ramifications. In treating it as a pandemic, we must remember some of the lessons and act accordingly. A key lesson is that collaboration is key to making a difference and it is an ecosystem driven approach.

    An Ecosystem Concerted and Sustained Approach

    a. Governments: Define policies that will help drive sustainability and reduce activities that endanger the planet. Regulations in various sectors will ensure adherence and create actionable outcomes.

    b. Organizations: Organization, no matter how big or small, define how their operations and value chains impact climate change and what they can do to mitigate the effects. At Ericsson, we have prioritized the elimination of sources of emissions within our operation and value chain which follows a 1.5°C reduction trajectory as part of our Net Zero target for 2040. Organizations need to take a bold step in investing in digitalization. This will help reduce carbon emission as well as drive efficiency in every sector of the economy.

    c. Individuals: Individual responsibility and dedication are critical in addressing climate change concerns. Decisions such as choosing to invest pension funds in organizations that are environmentally responsible will put pressure on providers to help fight the climate crisis. Cutting down on business travel is another good example of how companies and individuals can make an impact on reducing carbon emissions.

    Leverage Technology and Innovations

    Technology can play a major role in supporting global climate action. These could include solutions that help various sectors manage their emissions and data driven insights that can help make informed decisions affecting climate. At Ericsson, our 5G technology is supporting industrial sectors, such as energy, agriculture, manufacturing, and transportation, towards a low-carbon economy.

    Private and Public Partnership and Commitment

    Partnerships between the private and public sectors with a common goal and purpose can help advance climate action, in line with Sustainable Development Goal (SDG) 17 Ericsson has partnered with stakeholders, including governments, agencies, the international community, and research institutions, in our various markets, to find lasting solutions to climate change. Ericsson contributed to the Exponential Climate Action Roadmap report launched at the Global Climate Action Summit 2018. The report shows the potential for all sectors to halve greenhouse gas emissions by around 2030. Across Africa, we partner with our customers to find innovative solutions that address environmental sustainability.

    Anticipate Multidimensional Impact

    Similar to the pandemic, climate change has a multidimensional impact. It has the power to derail the progress we have made in sustainable development, further deepen the economic divide, and harshly affect the marginalized in society. Understanding the worst-case scenario will help us address the challenge effectively.

    In summary, the fight against climate change cannot be won alone. It will require collaboration of the entire ecosystem while the use of technology and innovation across all sectors of society, along with the proper policy direction and specific solutions, to achieve a 1.5°C future target. We need to think of climate change as a looming pandemic. Our individual actions today and the interventions by all stakeholders will determine its scale and impact. We have the power to drive this change, and it must act with urgency!

  • Qatari envoy highlights FIFA World Cup 2022 arrangements

    Qatari envoy highlights FIFA World Cup 2022 arrangements

    KARACHI: Consul General of Qatar Mishal Mohammad Ali Al-Ansari has highlighted arrangement for FIFA World Cup 2022 in Qatar, kicking off this Sunday November 20, 2022.

    During his visit to Karachi Chamber of Commerce and Industry (KCCI), Qatari CG informed that the State of Qatar was ready to welcome friends and visitors from around the world which will kicks off this Sunday, November 20th, and the matches will take place in eight outstanding stadiums in which Qatar was expecting more than 3 million spectators who will be in Qatar to watch this historical event.

    “A lot of work has been done to prepare, overprepare and go beyond to make sure that everything goes on smoothly. All sectors including security, hotels, rooms and transportation etc. have been fully covered while Pakistan Army’s staff is also part of the security team”, he said, adding that to be on the safe side, three cruise ships have also been booked of which two have already arrived in Qatar to accommodate visitors in case all the hotels in Qatar were fully booked.

    He said: “These gigantic cruise ships comprising of 26 floors and having 1,000 rooms each are already docked whereas thousands of luxurious tents having rest rooms and bed rooms have also been established in the desert as it is a totally different world cup in which all the matches will be played in eight stadiums situated in one city and away at a distance of half-an-hour from each other.

    “Of course, it’s going to be a month of festivities and the people have already started pouring into Qatar from Argentina, Brazil and Europe so it’s a big party scene now.”

    Qatar stood in solidarity with the people of Pakistan during this year’s flashfloods and torrential rains. “As our sympathies are for those who have lost their livelihood, several Qatari aircrafts carrying hundreds of tons of emergency relief aids arrived in our brotherly country under the directives of His Highness Sheikh Tamim bin Hamad Al Thani and the humanitarian support from Qatar continues to date which demonstrates our commitment.”

    Qatar is Pakistan’s thirteenth biggest trade partner and in 2021, the bilateral trade volume between the two brotherly countries was over $2.73 billion which continues to show steady growth.

    “Qatar and Pakistan have well established relations which are based on shared religion, culture, abilities and geographical proximity”, he added.

    Referring to last year’s meeting in August in Diwan-e-Amiri, Doha between Qatar’s Emir Sheikh Tamim bin Hamad Al Thani and Prime Minister Shehbaz Sharif, he said that both leaders besides stressing on the importance of brotherly and strategic relations, expressed aspirations to enhance economic partnership, bilateral trade exchanges and investments promotion through Qatar Investment Authority. “In this regard, Qatar Investment Authority announced to invest US$3 billion various commercial and investment sectors in Pakistan.”

    President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Vice President Muhammad Haris Agar, Former President Majyd Aziz and KCCI Managing Committee Members were also present on the occasion.

    President KCCI Mohammed Tariq Yousuf, while welcoming the Qatari Consul General, stated that Pakistan and Qatar enjoy strong, bilateral, social, political & economic relationship. “Pakistan has sent over 1.1 million workers abroad during the last three years despite COVID-19 pandemic, out of which 53,000 plus workforce were exported to Qatar”, he noted, adding that both countries must work together to develop capacity building of Pakistan’s skilled workforce to match the requirements of employers abroad with a view to improve remuneration for Pakistani expatriates.

    He said that trade volume between both countries has skyrocketed to new heights as compared to previous years on account of the LNG supply agreement. “We urge Qatari investors to invest in Pakistan’s petroleum industry to develop the LNG domestic market which holds tremendous opportunities for foreign investments.”

    Tariq Yousuf urged that as Qatar was one of the top Liquified Natural Gas (LNG) suppliers in the world and Pakistan was currently facing severe energy crises, Qatar’s authorities must supply LNG to Pakistan on a priority basis to address the shortages.

    Underscoring the need to strengthen bilateral economic cooperation through enhanced interaction between private sectors, he noted that Pakistan’s exports to Qatar stood at $196.6 million in FY22 as compared to $149.8 million in FY21, reflecting growth of over 31% on-year-on-year basis while Pakistan’s imports from Qatar appreciated to $2.68 billion in FY22 as compared to $1.32 billion in FY21, reflecting growth of over 100 percent on-year-on-year basis.

    Urging Qatari investors to explore the opportunities available in CPEC, he said that Pakistan has tremendous investment opportunities in Energy, Transport Infrastructure, Gwadar, Socio-Economic Development, Science & Technology & Agriculture Cooperation.

    “Qatari investors can capitalize on advancing energy-related cooperation, promoting trade and investment ties, exploring opportunities & joint ventures in Pakistan’s energy, aviation, agriculture and livestock, maritime, sports & hospitality sectors, which will pave way for further strengthening Pak-Qatar economic relationship.