ISLAMABAD: Pakistan proposed an intergovernmental agreement with Australia to support structured, long-term cooperation in the mining sector, as Islamabad looks to attract investment and develop its mineral resources, according to an official statement on Tuesday.
The issue came up for discussion during a meeting between Pakistan’s Petroleum Minister Ali Pervaiz Malik and the new Australian High Commissioner Timothy Kane. The meeting focused on exploring avenues for enhanced bilateral cooperation, particularly in the mining and gemstones sectors.
Pakistan has positioned mining as a potential engine of long-term growth, following years of underinvestment and stalled projects, and as resource-rich Asian economies increasingly look overseas to secure supplies of critical minerals and diversify investment portfolios.
“The Federal Minister welcomed the strong interest of Australian companies in Pakistan’s mining sector and highlighted the country’s immense untapped mineral potential, particularly in the Tethyan Belt,” the statement said.
“He proposed the possibility of an Intergovernmental Agreement (IGA) between Pakistan and Australia to promote structured and long term cooperation in the mining sector,” it added.
