Islamabad, April 25, 2013 (PPI-OT): Pakistan and Egypt have trustworthy political relations and enjoying excellent diplomatic relations, therefore both the countries should also consider to improve economic ties and bilateral trade relations.
These remarks were made by H.E.Mr.Said Mohamed El-Said Hindam, Ambassador of Egypt in Pakistan while addressing business community of Islamabad Chamber of Commerce and Industry (ICCI). He said that both countries are facing almost similar problems and they could better face the current challenges by promoting bilateral cooperation in multiple fields.
The Ambassador said that Egypt is an export-oriented economy as well as he cited Egypt’s environment and infrastructure as being conducive for free and preferential trade with all the countries. He said that Egypt has tremendous opportunities of investment in the areas of real estate development, fertilizer, oil and gas sector and having expertise in drilling as well.
He also highlighted the scope of importing fish and other sea food items from Pakistan which have great demand in Egyptian markets. H.E.Mr.Hindam said that the most important Egyptian exports are cement and dairy products, however, there are numerous sectors in which both the countries could start joint ventures despite having comparative advantage in many sectors. The Ambassador said that ICCI should also sign a MoU with Cairo Chamber of Commerce and Industry aimed at promoting existing volume of trade which stood at $380million.
In his welcome address, Mr.Zafar Bakhtawari lauded the vision of Egyptian diplomats and said that Pakistan attaches great importance to its relations with Egypt as it is one of the most important countries of Africa and Middle East.
ICCI President said that bilateral trade between Pakistan and Egypt was not up to the potential which should be increased up to $1billion in coming years because there were enormous opportunities of enhancing cooperation in various fields between both the countries.
Mr. Bakhtawari said that there was no visit of any Egyptian President since 40years while there were a number of visits from Pakistan side but recent visit of Egyptian President, H.E.Mr.Mohammad Morsi has opened new windows for cooperation in several fields including agriculture, health, telecommunication and technical support.
He was of the view that Egyptian parliamentary level delegations should also visit Pakistan which could be a landmark in the traditional and friendly relations between the two major Muslim countries.
He highlighted the importance of establishing direct flights from Islamabad to Cairo which would definitely improve the bilateral relations between two important countries of the Muslim world Pakistan and Egypt.
For more information, contact:
Islamabad Chamber of Commerce and Industry
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Tel: +9251 225 0526 and 225 3145
Fax: +9251 225 2950