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Ambassador of Argentina calls for sector specific measures and collective efforts to raise mutual trade volume which does not reflect friendly relations between the two countries

Lahore, March 10, 2016 (PPI-OT):Ambassador of Argentina, Mr. Rodolfo J. Martin Saravia Thursday called for sector specific measures and collective efforts to raise the mutual trade volume which does not reflects the friendly relations between the two countries.

“It is my farewell visit to the Lahore Chamber of Commerce and Industry as after serving for a period of 12 years in Pakistan as the Ambassador of Argentina and I will be leaving this country where I had some of the most memorable time and enjoyed matchless hospitality of the Pakistani nation”, the Ambassador said while talking to the LCCI Senior Vice President Almas Hyder and Vice President Nasir Saeed here at the Lahore Chamber of Commerce and Industry. LCCI Executive Committee Members Dr. Qurat-ul-Ain, Tanveer Ahmed, Mian Zahid Javed, Tariq Mahmood, Zahid Maqsood Butt and Abdul Razzaq were also present on the occasion.

The Ambassador said that he would continue his efforts for bringing the two countries closer even after leaving Pakistan as the Ambassador of Argentine. He urged the private sectors of the two countries to join hands to strengthen the mutual trade and economic ties. He said that frequent exchange of trade delegations and single country exhibitions could also help promote trade and economic activities between the two countries.

He said that Argentinean government has opened all economic sectors to the foreign investors. He urged the Pakistani businessmen to explore trade and investment opportunities in a number of sectors of Argentina. He said that business of the both countries could start joint ventures in agriculture and livestock sectors which have immense potential. He said that Argentina has expertise in these sectors and Pakistani businessmen could learn a lot from their Argentinean counterparts.

The LCCI Senior Vice President Almas Hyder appreciated the efforts of outgoing Ambassador of Argentina Rodolfo J. Martin Saravia to bring the people of two countries closer. He said that Pakistan and Argentine maintain good diplomatic relations. Moreover, by giving MFN status to each other in 2002, both countries found the basis of further developing economic relations. He said that during the last two years, our total trade has recorded an increase of more that 100%.

In 2013 its value was dollar 191 million which went up to dollar 394 million in 2014. However, our exports did not follow the upward trend during that period. It fell from dollar 57 million to dollar 46 million. He said that the drastic change occurred due to drastic increase in imports from Argentine that swelled from dollar 134 million to dollar 348 million.

Almas Hyder said that Argentine is internationally known for exporting soya bean oil-cakes and its extracts. The total worth of its exports was dollar 11.8 billion in 2014. The total import of soya bean and its oil made by Pakistan was around dollar 480 million in 2014 and out of that 54% supplies were imported from Argentine.

He said that Pakistan exports woven fabric and bed linens to Argentine which share is almost 80%. It is an interesting feature of our bilateral trade that both countries are relying on single items in two way trade. He said that major bottlenecks in promotion of trade and economic activities between the two countries are the lack of information about business opportunities.

The LCCI Vice President Nasir Saeed said that the Embassy of Argentina can become a reliable source of disseminating trade related information to curtail communication gap. He also stressed the need to undertake frequent activities like exchange of business delegations, participation in trade fairs and exhibitions etc., to ensure a continuous liaison.

Nasir Saeed said that closer interaction between the Chambers of the two countries can be highly beneficial. We should work on establishing stronger trade links between two countries and explore further areas of joint ventures. He said that with this little sharing of information, I once again thank you for your visit to the Lahore Chamber.

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

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