Foreign investors looking forward to invest in key sectors of Pakistan’s economy says KCCI

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The Karachi Chamber’s Pavilion at the 10th Expo Pakistan Exhibition continued to receive overwhelming response from foreign delegates from Russia, Argentina, Vietnam, Netherlands, Jordan, Thailand, Czech Republic, Bangladesh, South Korea and Uzbekistan who expressed interest in enhancing trade and investment ties in some of the key sectors of Pakistan’s economy including Textiles, Leather, Surgical, Sports Goods, Information Technology, Agriculture, Infrastructure Development, Financial Services and Marbles etc.

Exchanging views with President KCCI Muffasar Atta Malik, Senior Vice President Abdul Basit Abdul Razzak, Vice President Rehan Hanif and KCCI Managing Committee members, the foreign delegates sought Karachi Chamber’s assistance in identifying the right and reliable partners for exploring investment opportunities and facilitating joint ventures for production and supply of goods in the Pakistani markets. During a B2B session, the Deputy Head of Mission from Kingdom of the Netherlands Ms. Josephine Frantzen said that the Netherlands Embassy has been struggling really hard to promote trade and investment between the two countries and the Dutch business community was being encouraged to visit and explore the Pakistani market. “We are always available to guide the Pakistani business community on how to enhance trade with their Dutch counterparts and explore opportunities of investment in the Netherlands”, she added.

She said that the Dutch delegation which was here in Karachi to attend the Expo Pakistan, mainly comprises of businesspersons and industrialists from the textile sector who are deeply interested in exploring opportunities in Pakistan. “Currently, a study is being carried in the agriculture sector of Pakistan to examine the possibility of Dutch investment in this important sector of Pakistan’s economy. In this regard, a Dutch Trade Mission’s visit is also being planned in order to explore trade and investment opportunities in the agriculture sector whereas another Trade Mission from Dutch Textile Sector is also likely to visit Karachi and Lahore. Furthermore, a Maritime Mission from Pakistan to the Netherlands is also due in near future”, she added.

Members of Dutch delegation, who were led by Commercial Counsellor of Pakistan’s Embassy Syed Mahmood Hassan, while inquiring about the trade and investment opportunities, sought KCCI’s assistance in verifying the credibility of suppliers from Pakistan as it usually becomes difficult for them to carry out business deals with trustworthy suppliers.

Exchanging views with KCCI Office Bearers, Deputy Secretary General of Thai Chamber of Commerce Dr. Sombat Thiratrakoolchai, who led a delegation from Thailand, pointed out that Pakistan and Thailand have been enjoying excellent relations since many years and the relations have been growing further with the passage of time. “More than 75 companies are currently in Karachi to explore opportunities of expanding businesses and seek ways of how to join hands with their counterparts in Pakistan”, he added.

The Thai delegates were keen to explore trade and investment opportunities in leather, sports, surgical equipment, automotive, furniture, textile, cotton, yarn, beverages, towels, marbles and logistics sectors.

Treasurer of Amman Chamber of Commerce Jamal Fariz, who led a delegation from Jordan, informed that the delegation was looking forward to invest in the healthcare, pharmaceutical, shipping & logistics, construction, textiles, commodities, fruits and vegetables etc. He advised the business and industrial community of Karachi to explore opportunities of investment in Jordan which is close to Iraq, Syria and many other important countries of the region.

The delegates also stressed the need to sign an MoU between Karachi Chamber and Amman Chamber which must be followed by frequent exchanges of trade delegations in order to pave way for enhanced trade.

A Vietnamese delegation, which was led by Commercial Secretary of Pakistan’s Embassy in Vietnam Sumair Mustansar Tarar, comprised of businessmen from seafood, medical equipment, pharmaceutical, marble, textile, leather and agriculture sectors. They advised Karachi Chamber to send a trade delegation to Vietnam which is a potential market, offering immense opportunities for investment.

Commercial Counselor of Pakistan’s Embassy in Argentina Murtaza Siddiq Khan who led an Argentinean delegation informed that Pakistan Embassy plans to organize a Single Country exhibition in Chile next year in which 100 exhibitors will participate. He invited Karachi Chamber to participate in this exhibition which will prove profitable for their businesses.

Russian delegation, which was led by Deputy Chairman of Chamber of Commerce and Industry of the Russian Federation, Sergey Vasiliev and Trade Development Officer of Pakistan’s Embassy in Russian Federation and Belarus Samvel Bagdasaryan, while expressing keenness to expand trade ties with their counterparts in Pakistan, sought KCCI’s assistance in finding the right partner. They also appreciated numerous products and services displayed at the Expo Pakistan Exhibition.

Delegations from Czech Republic, Bangladesh, South Korea, Japan and Bangladesh also discussed matters of mutual interest with the Karachi Chamber.

Vice Chairman Businessmen Group & Former President KCCI Anjum Nisar, who also attended some of the meetings, highly appreciated the foreign delegates for their dense participation in Expo Pakistan in Karachi which must have resulted in clarifying many misconceptions about the city where bustling business activities have been taking place in full swing and the lively Karachi city has been personally witnessed by the foreign delegates. He informed that many multinational companies from countries around the world have been successfully doing lucrative businesses and all of them absolutely have no issues in carrying out their businesses in Karachi, which offers good profits, vast opportunities and a secure environment for investment.

During his interaction with members of Thai delegation, Anjum Nisar opined that the business communities of the two countries can collaborate in different sectors including agriculture, textiles, leather, surgical equipment and sports goods. With a consolidated population of 300 million, Pakistan and Thailand could do wonders, he added.

Exchanging views with the delegates, President KCCI Muffasar Atta Malik stressed the need for exchange of trade delegations which would surely prove favorable and yield positive results. “Efforts have to be made from both sides in order to further cement the existing relations between the business communities through constant interactions, seminars, single country exhibitions, B2B meetings and exchanges of trade and investment missions”, he added. He extended full support and cooperation to foreign delegates in finding the right partner in Karachi which is the hub of trade and economic activities.

President KCCI pointed out that China Pakistan Economic Corridor (CPEC) has opened huge number of investment opportunities for foreign investors who can surely benefit by setting up their businesses in 9 Special Economic Zones (SEZs) being established across the country under CPEC project. “Two of these SEZs are being established in Karachi where foreign investors can either set up their businesses or undertake joint ventures which would surely create a win-win situation, keeping in view the investment potential of this city”, he added. He was of the opinion that the improved law and order situation across the country along with the CPEC project have paved way for the economic boost in the next 7 to 10 years, making Pakistan the hub of economic activities of the region and a reliable gateway giving easy access to not just China but also to other Central Asian Republics and beyond. “This is the right time for the business and industrial communities around the world to take advantage of the investment friendly situation emerging in Pakistan”, he added.

In response to the concerns expressed over the credibility of Pakistani suppliers, President KCCI explained that Karachi Chamber can only verify its member firms whereas the authenticity other suppliers from outside Karachi can be confirmed by the relevant Chamber of that particular city. “However, the foreign businessmen can approach KCCI for verification of any supplier from Pakistan and as our networking with other Chambers of Commerce across Pakistan is very strong therefore, we can get in touch with relevant Chamber in order to seek details about the credibility of suppliers”, he added.

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