A high profile delegation comprised of 28 business dignitaries from various sectors of Pakistan on the invitation of Prime Minister of Lebanon Mr. Saad Hariri visited Lebanon from May 13-18, 2017. The delegation was headed by Mr. IrfanSarwana, Vice President FPCCI. During the visit, the delegation held various high level meetings with the Government Officials and representatives of Business community of Lebanon. During the meetings the leader of the Pakistani delegation Mr. Irfan Ahmed Sarwana briefed the hosts that Pakistan is a business friendly country and offers good opportunities to foreign investors in many fields like agriculture, capital goods, sports, surgical instruments etc. The Prime Minister of Lebanon Mr. Saad Hariri mentioned that Tourism Industry is well developed in Lebanon and accounts for 10% of the GDP. In addition to it the Prime Minister informed that the Lebanon offers bright prospects of Industrial, banking, agriculture and transport equipment sector.
Moreover the Pakistani delegation also had an exclusive meeting at the Ministry of Economy and Trade with Ms. Jacqueline Melhem during which various aspects of boosting trade ties between the two countries were reviewed and discussed including the exchange of trade delegation, organizing Solo country Trade Exhibitions and cooperation in various sectors of mutual interest etc.
The delegation signed Four MoUs with Chambers and Associations in Lebanon namely (i) The Chamber of Commerce Industry and Agriculture of Beirut and Mount Lebanon ( CCIA-BML), (ii) The Chamber of Commerce, Industry & Agriculture of Tripoli & North Lebanon, (iii) The Association of Lebanon Business People in the World; and (iv) The Chamber of Commerce, Industry & Agriculture in Sidon and South Lebanon.
Mr. IrfanSarwana expressing the importance of Free Trade and Preferential Trade Agreements stated that such institutional arrangements are imperative for the growth of trade and economy. He further added that Pakistan’s export to OIC Countries was about $ 1.6 billion and import was $5 billion having a significant imbalance of more than $3 billion, therefore he stressed that Pakistan should also focus on untapped and unconventional markets to improve the trade figures in favor of Pakistan. He shared that despite several challenges Pakistan’s economy is performing well and all indicators are in favor of Pakistan.
Pakistan Embassy in Beirut, Lebanon gave a grand reception to the Pakistani delegation which was also largely attended by the representatives of the Lebanese trade industry, Business dignitaries and Government officials of Lebanon.