Islamabad, Nov 22 (PTI) Pakistan discourages any arms race in the region today, Prime Minister Nawaz Sharif said, underlining that the country is exploring the way forward for peace and stability in South Asia.

Addressing at the inauguration of the ninth International Defence Exhibition and Seminar (IDEAS) here, Sharif said Pakistan was committed to discouraging arms race and promoting “the motto of arms for peace, which has always been the tagline of IDEAS”.

He expressed Pakistans commitment to regional peace, saying that, “we will explore the way forward for peace and stability in the world in general and our region in particular”.

Sharif said the environment for foreign investment was encouraging in the country in view of improved law and order situation, besides power projects being completed on time.

The Prime Minister said Pakistan had achieved self-reliance in defence production and mentioned that IDEAS-2016 was a demonstration of the collaboration of local and foreign technologies.

He said over 2,000 weapons system and equipment on display at the exhibition reflected broad-based participation of the countrys public and private sector in defence production, supported by research and development.

The Prime Minister said the country?s defence products were state-of-the-art and stood fully tested by its armed forces.

“Our defence products have made their mark in many countries of the world,” he said, adding there still existed many opportunities for further growth and exploration of new markets.

He said Pakistan was fast emerging producer of quality defence products.

The Prime Minister invited foreign companies to expand their business linkages with Pakistan in the field of defence production.

Later, Prime Minister Nawaz Sharif inaugurated the exhibition, flanked by Defence Minister Khwaja Asif, Army Chief General Raheel Sharif, Chief of Naval Staff (CNS) Admiral Mohammad Zakaullah and Chief of the Air Staff Air Chief Marshal Sohail Aman.

34 countries and a total of 418 companies are participating in IDEAS 2016, including 261 foreign and 157 Pakistani companies. The exhibition will continue till November 25.