Ambassador of Norway Per Albert Ilsaas has said that although Norway and Pakistan have been enjoying excellent relations as both countries have been cooperating in multiple spheres, it was positive that the trade volume was increasing. Still, the numbers were not very impressive due to many reasons.
“One of the main priorities for My team and I at the Embassy will be to see how we can contribute to further deepening and strengthening trade relations and economic cooperation between our two countries”, Norwegian Envoy added while exchanging views at a meeting during his visit to Karachi Chamber of Commerce & Industry (KCCI).
President KCCI Muhammad Idrees, Senior Vice President Abdul Rehman Naqi, Vice President Qazi Zahid Hussain, Chairman Diplomatic Missions & Embassies Liaison Subcommittee Ziaul Arfeen, Former President KCCI Majyd Aziz, Second Secretary – Political, Norwegian Embassy Ms Silje Marie, Program Advisor Development Norwegian Embassy M. Bilal Majeed and KCCI Managing Committee Members were also present at the meeting.
Norwegian Ambassador, who was on his maiden visit to Karachi, said that his visit to the Karachi Chamber was to discuss the possibilities of enhancing trade between the two countries and seek advice on how the Norwegian Embassy and KCCI can work together strengthen bilateral relations further. “Norway is fortunate enough to be home to a large and well-integrated Pakistani diaspora of 39,700, which was a sizeable number for Norway. Its overall population was only 5.3 million, and the Pakistani diaspora has contributed well to Norwegian society and the economy”, he added.
He informed that Norway was a very rich country with huge natural resources, particularly oil and gas, while fish and salmon have been one of Norway’s main export articles. “President KCCI rightly pointed out immense opportunities in blue economy and Norway is a maritime nation because the country has a large coastline. I think these are the areas where there may be opportunities that are of mutual interest and benefits which can be identified and explored. Still, Norwegians do not always perceive Pakistan as the easiest place to do business”.
He said that a Norwegian company Scatec in collaboration with Nizam Energy, had undertaken a project of setting up a solar power plant of 150 megawatts in Sukkur. The financial closure for this project was achieved in February 2021. “The start of electricity generation by Scatec in Sindh would be a source of inspiration for other Norwegian companies.”
Earlier, President KCCI Muhammad Idrees, while welcoming the Norwegian Ambassador, said that Pakistan shares cordial ties with Norway, where Pakistanis form one of the largest immigrant communities, and the two countries have also signed a Double Taxation Treaty. At the same time, Norway also provides development assistance to Pakistan.
“Even though the two economies trade several items, the trade ties need to be deepened. During 2021, Pakistan exported goods worth $125.6 million to Norway while the imports from Norway were recorded at $65 million”, he noted, adding that Pakistan’s top exports to Norway include textiles, apparel and accessories, articles of leather, sports equipment, edible fruits and nuts, cereals, cotton, footwear, carpets, beverages, medical or surgical goods etc.
He believed that there was much potential for trade enhancement between the two countries as Norway imports around $3 billion to $ 4 billion of textiles related items from around the globe. Pakistan has a good chance to enhance its exports’ share of textiles in the Norwegian market as currently, Pakistan exports around $96 million worth of textile items to Norway.
Muhammad Idrees mentioned that Pakistan and Norway could look into the possibility of enhancing the trade of numerous products, including medicaments for therapeutic purposes, flour, Portland Cement, Fresh or chilled onions, potatoes, Frozen shrimps and prawns, Fresh or dried bananas, Vegetable fats and oils, flat-rolled products of iron or non-alloy steel etc.
He also underscored the need to undertake joint ventures in Pakistan in renewable energy while the two countries can cooperate in other blue economy areas. The coastal city of Karachi can provide unlimited opportunities, including ports and harbours, marine transportation, fisheries, extraction of hydrocarbons, seabed minerals, value-added port logistics, shipbuilding, submarine cables, and offshore installations, fish processing and coastal / eco-tourism. Businesses in both countries can hold dialogues in this regard to capitalize upon Pakistan’s coastline of around 1,000 km, he said, adding that business communities can also look into the possibility of undertaking joint ventures in the shipbuilding sector of Pakistan.
CAPTION:
President Karachi Chamber of Commerce & Industry Muhammad Idrees presented the crest to Ambassador of Norway Per Albert Ilsaas during his visit to KCCI. Senior Vice President Abdul Rehman Naqi, Vice President Qazi Zahid Hussain, Chairman Diplomatic Missions & Embassies Liaison Subcommittee Ziaul Arfeen, Former President KCCI Majyd Aziz, Second Secretary – Political, Norwegian Embassy Ms Silje Marie, Program Advisor Development Norwegian Embassy M. Bilal Majeed and Managing Committee Member Tanveer Barry are also seen in the picture.