Lahore, April 15, 2014 (PPI-OT): Private sectors in Pakistan and Taiwan Tuesday resolved to talk to their respective governments for expeditious issuance of visa to the businessmen as undue delay to this regard is hitting hard the trade and economic relations between the two countries.
This was pledged during a visit of twenty-member Taiwan business delegation jointly led by Chien-Nan Kuo and Muhammad Mujahid to the Lahore Chamber of Commerce and Industry. The LCCI President Engineer Sohail Lashari highlighted the potential trade and investment sectors while the Vice President Kashif Anwar also spoke on the occasion.
LCCI Executive Committee Members Zafar Mehmood, Muhammad Aslam Chaudhry, Muhammad Akram Malik and former Executive Committee Member Fahimur Rehman Saigol and Awais Piracha were prominent among the participants.
Both the sides also agreed to identify the irritants to free flow of goods and expedite dissemination trade related information to increase the volume of two way trade.
The head of the Taiwan delegation informed the meeting that the Taiwanese businessmen were keen to do business with their Pakistani counterparts as the country was fast emerging as good business destination. He said that another Taiwan business delegation would be visiting Pakistan in September 2014 to have firsthand knowledge about available business opportunities.
Chien-Nan Kuo said that Pakistan was a resourceful country and has all the ingredients to become economic giant in true sense of the word. He said that its strategic location was an added attraction for the foreign businessmen.
Speaking on the occasion, the LCCI President Engineer Sohail Lashari said that there were no two opinions that the volume of present two way business is far below the respective potential the two countries have.
He said that the LCCI would also plan a delegation to Taiwan in coming months to pave the way for joint ventures between the two countries.
The LCCI President said that a large number of foreign investors were showing their interest in putting their money in new ventures in Pakistan only because of business friendly policies of the present government.
He said that any investment made in Pakistan was bound to win consumers in the landlocked Central Asian Estates therefore Taiwanese business community should come forward and join hands with Pakistani businessmen.
He said that Taiwan has earned good reputation world over for producing quality products therefore the sharing of knowledge could be of great benefit to Pakistan.
Likewise, the industry of Taiwan is expanding on regular basis offering wide range of hi-tech products.
The overall trade figures which were USD 882 million in 2011 slipped to USD 629 million in 2012 mainly due to more than 50% decline in our exports to Taiwan.
The LCCI President also appreciated the efforts of Taiwan External Trade Development Council (TAITRA) for doing utmost efforts to increase Taiwan’s share in total imports of Pakistan.
Currently, main export products from Pakistan to Taiwan consist of Mineral fuel, cotton, manmade staple fibers, copper, beverages, spirits and vinegar, plastic products, raw hides and skins etc.
Imports from Taiwan to Pakistan comprise organic chemicals, plastic and rubber articles, manmade filaments and textiles materials, iron and steel, articles of aluminum, etc.
The LCCI President said that frequent interaction was bound to create better understanding between the private sectors which would play the desired role of promoting bilateral trade and economic relations between the two countries.
Talking about the perception of Pakistan, Engineer Sohail Lashari said that the security situation was fast improving in Pakistan despite the fact some international forces were trying to tarnish its image.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854