Karachi: Pakistan for the first time participated in the Commonwealth Business Forum organized by the Commonwealth Business Council and a special session was organized on “Pakistan’s Potential: Opportunities for Trade and Investment”. Mr. Tariq Puri, Chief Executive, Trade Development Authority of Pakistan (TDAP), chaired this special session Mian Mansha, Chairman of Nishat Group and Mr. Razzak Dawood, Chairman of Descon Group was also the panellists on that session.
In his key note presentation, Mr. Puri highlighted the trade potential between Pakistan and other member states of Commonwealth. He stated that our exports to Commonwealth countries are US$ 3.63 billion while our imports are US$ 7 billion.
However, the 173 products which Pakistan exports to Commonwealth countries, has the market share of 0.3% of range of products which constitutes 55% of Commonwealth nation’s total imports worth US$ 1.18 trillion. He highlighted that Pakistan could increase its share by adding value in its supply chain and also to emphasized upon the need for product diversification.
He informed the participants, representing the leading entrepreneurs and investors from all over the world, that the World Bank’s ‘Ease of Doing Business Index’ has ranked Pakistan as number 1 in South Asia. Discussing the Agriculture sector; Mr. Puri highlighted the facts that Pakistan is the: 2nd largest Buffalo Meat producer; 2nd largest Buffalo Milk producer; 3rd largest Cottonseed producer; 3rd largest Chillies producer; 4th largest Goat Meat producer; 5th largest Mango producer; 7th largest Wheat producer, but has not been able to optimize its strengths for capturing a larger share in the global processed food market.
He also emphasized upon the fact that Pakistan has the 5th largest Coal reserves in the world and it is also bestowed with an abundance of other natural resources. He said that what Pakistan needs is for the foreign investors to bring the requisite technology through mutually beneficial entrepreneurial arrangements and invited them for investing in the potential projects.
Mian Mansha highlighted the fact that national and multinational companies working in Pakistan are satisfied with the conducive environment being provided by the Government and that rate of return on investment and the profitability ratio are substantial. Mr. Razzak Dawood also added that policies of the Government of Pakistan are encouraging and that the private sector is thriving.
They both reposed their confidence that opening of trade between India and Pakistan will indeed attract more investment in the region, especially for Pakistan.
For more information, contact:
Trade Development Authority of Pakistan
5th Floor, Block A, Finance and Trade Centre, Shahrah-e-Faisal,
PABX: 92-21- 9206487-90