In Qatar, Pakistan’s Sharif seeks to bolster trade ties, woo foreign capital
The South Asian country is seeking to attract international investment as it recovers from a severe economic crisis.
Pakistani Prime Minister Shehbaz Sharif met Qatari Emir Sheikh Tamim bin Hamad Al Thani in Doha on Tuesday and addressed local businessmen during a trip aimed at strengthening political and trade ties between the two countries. The visit comes amid a decline in trade between Pakistan and Qatar.
What happened: Sharif arrived in Doha Monday evening to begin his two-day official visit to the Gulf country. Addressing the Qatar Business Association on Tuesday, Sharif said Pakistan’s economy was recovering due to reform measures, according to The Associated Press of Pakistan.
Sharif said the reforms aim to facilitate foreign investment and invited the business leaders to invest in sectors including energy, infrastructure, logistics, agriculture, technology and manufacturing.
In addition to meeting the emir, Sharif is also due to meet Qatari Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani in Doha on Tuesday to discuss ways to strengthen bilateral relations, the Pakistani Prime Minister’s Office (PMO) said in a statement.
Sharif met with Qatari Minister of State for Foreign Trade Ahmed bin Mohammed Al Sayed on Tuesday, the PMO said.
Officials from both countries also agreed to convene a task force meeting during Ramadan, which ends in mid-March, to discuss concrete proposals for Qatari investment in Pakistan, according to the statement.
“The meeting underscored the shared resolve to further deepen trade, investment and industrial collaboration between Pakistan and Qatar,” it added.
The Qatari prime minister is expected to host an iftar dinner Tuesday for Sharif and his delegation. During the visit, Sharif is also expected to meet Qatari Deputy Prime Minister and Minister of State for Defense Affairs Sheikh Saoud bin Abdulrahman bin Hassan bin Ali Al Thani, Sharif’s office said.
Background: Pakistan plunged into an economic crisis in 2022 after foreign exchange reserves collapsed, the rupee fell sharply and inflation spiked. By 2023, Pakistan was on the brink of default, leading to emergency negotiations with the International Monetary Fund.
The IMF reforms included tightening monetary policy, reducing subsidies and stabilizing the currency. Inflation peaked at nearly 30% in 2024 but dropped sharply as IMF-backed reforms took hold, and foreign exchange reserves recovered from single-digit billions to above $20 billion by mid-2025. However, growth remains modest, with GDP expanding by 3.4% in the 2024/25 financial year.
Why it matters: Pakistan has been seeking closer alignment with Gulf countries to attract foreign investment needed to help its economy recover. Islamabad has also strengthened defense ties in the region, announcing a pact in January with Saudi Arabia and Turkey.
Pakistan and Qatar maintain close energy and defense cooperation. Qatar is a major supplier of liquefied natural gas to Pakistan, while Pakistan exports agricultural products to Qatar, according to the Pakistani Embassy in Doha.
In the 2025 FY, Pakistani exports to Qatar stood at $158.1 million while imports totaled $3.53 billion, according to the Embassy.
Around 300,000 Pakistani expatriates reside in Qatar, accounting for around 5% to 10% of the population.
Sharif's visit comes as neighbor and rival India deepens economic ties with the Gulf. India and the Gulf Cooperation Council announced on Tuesday that they had formally launched negotiations for a free trade deal.
The joint statement was signed by India's Union Commerce and Industry Minister Piyush Goyal and GCC Secretary General Jasem Mohamed Albudaiwi in New Delhi. In the statement, Albudaiwi said a free trade agreement would "further strengthen trade and investment ties between India and GCC countries by infusing predictability and certainty for businesses."
The GCC is India's largest trading partner bloc, with bilateral trade reaching $178.56 billion in fiscal year 2024-25.
Know more: According to the Pakistani PMO, Sharif also discussed regional political developments with Qatari ministers, including the situations in Iran and Afghanistan. Both sides emphasized the importance of dialogue, de-escalation and collective efforts to promote regional peace and stability.
