Karachi, March 14, 2016 (PPI-OT):Economic and trade relations between Pakistan and Belarus can also be increased through marketing of products and highlighting opportunities in each other countries; Approximately 18 MoUs have been signed during the recent past to strengthen their multifaceted ties particularly in the areas of trade, commerce, education and culture, President FPCCI.
President FPCCI Abdul Rauf Alam stated that Economic and trade relations between Pakistan and Belarus can also be increased through marketing of products and highlighting opportunities in each other countries. He further highlighted during a Second Meeting of Pak-Belarus Business Council with high profile Trade Delegation headed by Mr. Vitaly Vovk, Minister of Industry of the Republic of Belarus, that Approximately 18 MoUs have been signed during the recent past to strengthen their multifaceted ties particularly in the areas of trade, commerce, education and culture.
President further said that the current volume of bilateral trade does not reflect the warmth and depth of Pak-Belarus relations. Both countries is trading with each other under US $ 60 million in which Pakistan’s export is US $ 15 million while Belarus export to Pakistan is 43 million. Reason for low level of trade is the confinement of trade in few products from both sides. He more elaborated that the trade volume can be increased by including competitive products from both sides such as fertilizers, automobile Sector and chemicals, tractors from Belarus while Pakistan is a leading agriculture products exports.
A high profile Trade Delegation headed by Mr. Vitaly Vovk, Minister of Industry of the Republic of Belarus has conducted the second session of Pakistan-Belarus Joint Business Council (JBC) hosted by Federation of Pakistan Chambers of Commerce and Industries under the theme of Pak-Belarus Bilateral Trade and Economic Relations, Pakistan side will be represented by Abdul Rauf Alam, President FPCCI.
The Memorandum of understanding (MoU) for establishment of Joint Business Council between Pakistan and Belarus was signed on 27th May 2015. The first meeting of Joint Business Council was held between Pakistan and Belarus in the month of August, 2015 during the visit of Mian Nawaz Sharif Prime Minister of Pakistan to Belarus. Khalid Tawab, Senior Vice President, FPCCI will also make presentation on the Role of FPCCI.
Mr. S. M. Muneer, Chief Executive, TDAP has been the Guest of Honour and also address the session. He said that world standard and quality would be criteria for future trade. Therefore, to become competitive in the global market we need to adopt best practices and modernization in business technology. Otherwise our product will no longer be attractive to the consumers.
He appreciated that visit of delegation and expressed that visit of Belarusian president that was also reciprocated by Pakistani premier reflects that both countries are willing move forward to become favourable nation to each other. He more elaborated that the both countries have potential to further enhance the bilateral trade which stood at $60 million dollars and do not reflect the actual potential. It is a time for both countries to explore the new avenue in the field of trade and investment.
Addresses from Pakistan is comprised of Sheikh Khalid Tawab (SVP, FPCCI); Brigadier (R) Tariq Khalil (Co-Chairman, Pak-Belarus JBC); Dr. Mirza Ikhtiar Baig (CEO, Pak Denim); Abdul Rashid Abro and Yaqoob Sheikh (Members, Pak-Belarus Business Council). While the Addresses Belarus was conducted by Vitaly Vovk (Minister of Industry of the Republic of Belarus); Andrei Ermolovich (Ambassador of Belarus in Pakistan) and Valery Labum (Director General, Belarusian Chamber of Commerce and Industry). Zulfiqar Ali Sheikh, Hanif Gohar and Arshad Farooq (VPs FPCCI) were also present.
Vitaly Vovk (Minister of Industry of the Republic of Belarus) has appreciated the warm welcome of Pakistan and endorsed the evident of investment opportunities in Pakistan. The Joint Business Council Meeting followed by the B2B Meetings particularly in the sectors of Tractors and Different Agricultural Machinery, Textile, Clothes for Children and Adults and Home decorators, Knitted Goods, Jewellery (Silver Jewellery), Flax Products, Yarn, Fabric, Textile, Health Care (Medical Devices for Single Use), Fertilizers, oil and gas.
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