Islamabad, May 26, 2015 (PPI-OT): Pakistan and Belarus have agreed to enhance bilateral trade up to the mark of one billion dollar per annum in Textile, oil and gas chemicals and other sectors. In this regard, Pakistan Federation of Chambers of Commerce and Industry and Belarus Chambers of Commerce have signed an agreement to further promote their collaboration.
President FPCCCI Mian Idrees and President of Belarus chambers of Commerce and industry Mr. Mikhail Miatlikov signed a memorandum of Understanding to enhance bilateral cooperation. At the occasion, Minister for Oil and Gas of Belarus, minister for Textile, Minister for Light and Industry, a delegation of fifty two members of Belarus, Secretary General of FPCCI Zubair Tufail , President ICCI Muzamil Sabri, Group chairman Abdul Rauf, Chairman FPCCI and other businessmen and industrialists were also president on the occasion.
In his welcoming address, President FPCCI Mian Muhammad Idrees said that Pakistan welcomes the investors from Belarus and its business community gives intense importance to industrial relations with Belarus. He said Belarus is important country in Europe with vast potential of trade while Pakistan is central point of industrial activities of Asia, central Asian states and Gulf countries.
President FPCCI stated that existing bilateral trade potential between the two countries is $ 60 million which is enough. Pakistan’s exports to the Belarus are $ 15 million while its imports from Belarus are $45 million. Non competitive environment and limited products are the key reason behind limited trade volume. He said both countries can promote trade in fertilizer, chemicals and textile sectors.
By exchanging trade delegations and joint exhibitions the existing trade volume could be further increased. He suggested that through an investment treaty, both counties can promote economic cooperation. Pakistan is ideal country for investment and investor from Belarus should initiate joint ventures in telecom, Engineering, Power generation, oil and Gas, Textile, Automobile, fertilizer plants and chemical technology.
Mian Idrees stated that business council and National Chambers between the two counties may fruitful to promote collaboration in bilateral trade. At the occasion, Secretary General FPCCI Zubair Tufail said Pakistan is ideal country for investors of Belarus. He invited investor from Belarus to expand trade in rice, Textile, leather and other sectors.
President of Belarus chambers of Commerce and industry Mr. Mikhail Miatlikov said it is ideal time to take advantage from existing trade potential between the two countries. Their visit would establish a base to further strengthen and promote bilateral trade relations.
Both countries can promote industrial cooperation in agricultural machinery, tractors, construction machinery, automobiles and in oil and gas sector. He also invited investors from Pakistan to initiate long term joint ventures adding that they have signed agreement with Government of Pakistan that would yield to promote bilateral trade to $1 billion. Later, President FPCCI presented shields to ministers and chairman Belarus chambers of commerce and industry.
For more information, contact:
M. A. Lodhi
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: +92-21-35873691, 93-94