FM Qureshi holds telephonic discussion with Guinean counterpart

FM launches “Leveraging Private Investment for Pakistan’s Sustainable Development: Pakistan SDG Investment Report 2021”

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Islamabad: Foreign Minister Shah Mahmood reached out to his Guinean counterpart Dr. Morissanda Kouyate. Both leaders reviewed historically friendly ties, underpinned by the convergence of views on regional and international issues.

Foreign Minister Qureshi expressed the desire for further strengthening relations with Guinea with emphasis on trade, agriculture, defense, and health sectors. He lauded Guinea’s positive and substantive contribution to UN, OIC, AU, and ECOWAS.

Foreign Minister Qureshi highlighted the ‘Engage Africa’ policy of the Government and steps taken for greater political and economic exchanges and enhancing diplomatic presence in the Continent. Both sides concurred on establishing a bilateral mechanism for regular exchanges between the two Foreign Ministries.

Meanwhile to another official commitment, Foreign Minister Makhdoom Shah Mahmood Qureshi launched the “SDG Investment Report 2021: Leveraging Private Investments for Pakistan’s Sustainable Development”. The Report has been prepared under the lead of the Ministry of Foreign Affairs, in collaboration with the United Nations Development Programme (UNDP) and the Board of Investment (BOI). It showcases Pakistan’s business portfolio and potential for attracting private sector investments aligned with the United Nations Agenda 2030 and the Sustainable Development Goals(SDGs).

The event was attended by Chairman BOI, Special Assistant to the Prime Minister on CPEC Affairs, Resident Representative of UNDP Pakistan, members of the Diplomatic Corps, UN agencies, private sector, think-tanks, and media. An outline of the Report was presented by the UNDP Senior Advisor on Finance for Development.

In his key-note address, the Foreign Minister outlined his vision of Economic Diplomacy which is geared towards the advancement of Pakistan’s Economic Security agenda. Noting the upward trajectory of Pakistan’s macro-economic indicators amidst the COVID-19 Pandemic, he underscored the imperative of exploring innovative financing solutions. He stressed the involvement of both public and private sectors to increase investments in Pakistan’s development sector for the attainment of SDGs. He particularly highlighted the need to focus on health, agriculture, renewable energy, and infrastructure in order to ensure that development is sustainable.

The Foreign Minister also reaffirmed Pakistan’s commitment towards facilitating its international partners to strengthen their economic and development investments in Pakistan and encouraged them to benefit from the unique propositions presented in the Report.

The Foreign Minister of UNDP Pakistan for providing excellent support, policy advice, and technical assistance for positioning Pakistan’s SDGs investment portfolio at global investment platforms and developing the country’s first-ever SDG Investor Map.

Pakistan’s SDG Investment Report 2021 will help leverage and mobilize the much-needed finance for sustainable development in the country. It will go a long way in addressing the socio-economic challenges posed by the COVID-19 pandemic and helping Pakistan build forward better. Adding to this,  Addressing the launch of the Report on ‘Leveraging Private Investment for Pakistan’s Sustainable Development’ here at the Ministry of Foreign Affairs, he said the government was working towards a more hospitable investment environment to help bolster the confidence of investors.

The foreign minister said Pakistan was committed to Sustainable Development Goals (SDGs) and the United Nations’ Agenda 2030 to ensure inclusive and sustainable growth.

He emphasized that Agenda 2030 and SDGs needed to become a global framework to encourage the private sector to capture the benefits and tradeoffs of sustainable development.

He recalled that the country had achieved an encouraging growth of 5.37 percent despite the fact that the macro-economic indicators pointed in the wrong direction in August 2018 when the government assumed power.

Qureshi said with a country like Pakistan still being in the International Monetary Fund (IMF) program, achieving the objectives of sustainable development was a challenge.

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