ISLAMABAD: Pakistan and the European Union (EU) have signed three agreements worth 65 million euros to launch development programs aimed at supporting investment, the rule of law, the business environment, energy and environmental sustainability, the Ministry of Economic Affairs said.
The agreements were signed by Secretary Economic Affairs Muhammad Humair Karim and EU Ambassador to Pakistan Raimundas Karoblis.
According to the ministry, the tax system and long-term financial planning will be improved under the Global Gateway program. In the off-grid rural areas of Khyber Pakhtunkhwa, the programs will promote renewable energy and increase private investment.
On the legal side, access to justice will be strengthened in Khyber Pakhtunkhwa and Balochistan. In Punjab and Sindh, the programs will strengthen alternative and commercial dispute resolution systems.
The Secretary Economic Affairs said the programs are in line with the national goal of increasing foreign investment.
The EU Ambassador described the agreements as an expression of the EU’s commitment to supporting Pakistan’s economic development and investment.
