The Ireland Pakistan Business Council (IPBC) was launched yesterday by Minister of State Michael Ahern and former taoiseach Albert Reynolds, who is chairman of the council.

Mr Reynolds said he acted as a personal economic and political adviser to President Pervez Musharraf of Pakistan in the late 1990s and in the first few years of the 21st century.

The former taoiseach, who resigned in 1994, told The Irish Times he was contacted by Mr Musharraf following the general's coup in 1999. "I knew him through a friend when he was head of the army."

Mr Reynolds said he was asked to help with economic planning and with improving relations between Pakistan and the US. The president "telephoned me at the time of the 9/11 attack on the US and asked me to tell the US ambassador to Ireland that they would have his full support". Mr Reynolds said he passed on the message of support.

He said he had also made representations on behalf of Mr Musharraf to Chris Patten, the former European commissioner for foreign relations. "I said he's a good guy. Give him a chance."

He said Mr Musharraf appointed a deputy to liaise with him, Mr Reynolds, and that he travelled to Pakistan on a number of occasions to discuss matters. "The Pakistani economy is going from strength to strength. There are plenty of opportunities out there."

Mr Reynolds said now was the time for Irish businesses to look at opportunities in Pakistan. "The IPBC and its members will act as a catalyst to help Irish companies, ranging from education through software to construction engineering services, to connect with and do profitable business with Pakistan."

Pakistan's ambassador to Ireland, Toheed Ahmad, said he was confident the council would assist in fostering interest in doing business in Pakistan. A trade mission to Pakistan is to take place in April/May 2006.