The Minister also sees trade and investment opportunities in agriculture, IT and textiles.
However, the two developing countries compete in some areas of manufacture and, increasingly, outsourcing from the west.
“Romania is a medium sized economy and has made structural reforms in the financial sector,” says Bakhtiar. “It is a more competitive place to do business. There is a lot of political goodwill and a commonality of perspective [between Pakistan and Romania] on international issues.”
The two Governments have created an ‘enabling environment’ on the legis-lative front, says the State Minister, adding: “It’s up to the entrepreneurs to take the chance.”
Pakistan needs to increase its energy production. The country is boosting its manufacturing capacity and population, expecting its energy needs to increase by ten times by 2025. At present the Asian country has a complex of hydro, thermal, nuclear and gas production.
Bakthiar says there are “huge returns on investment” in the energy sector, of 30 to 50 per cent.
