Islamabad: Pakistan and Egypt have agreed to explore the possibility of forming a Pakistan-Egypt Business Council and forging closer ties between their respective finance ministries.

The agreement was reached during a phone call between Egypt’s Ambassador, Tarek Mohamed Dahroug, and Federal Minister of Finance and Revenue, Shaukat Tarin, at the Finance Division on Tuesday.

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According to a press release issued by the finance ministry, they also looked into the possibility of increasing bilateral trade, with an initial focus on rice and cotton, in consultation with relevant stakeholders. Both sides discussed issues of mutual interest and agreed that the current level of bilateral trade was insufficient and that they needed to work together to significantly improve it.

The Finance Minister, while extending a warm welcome to the ambassador, stated that Pakistan and Egypt have brotherly relations and expressed Pakistan’s desire to strengthen economic and business cooperation between the two countries.

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He asked the ambassador to convey his best wishes to Egypt’s Finance Minister, as well as his views that the two countries should collaborate on economic issues for mutual progress and prosperity.

The ambassador thanked the minister and expressed his firm commitment to making steady progress in further strengthening the two countries’ business and economic ties.

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