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Paraguay looks for enhancing economic and cultural ties with Pakistan-Kanwar Tariq

Islamabad: Paraguay wants to strengthen economic, commercial and cultural relations with Pakistan as there is tremendous potential exists between both the countries in many sectors.

Mr. Kanwar M. Tariq, Consul General, Republic of Paraguay made these remarks in a meeting with Yassar Sakhi Butt, President, Islamabad Chamber of Commerce and Industry (ICCI). He said that Chambers of Commerce and Industry could play an important role in building trade relations between the entrepreneurs of both the countries.

Consul General said that Pakistan should also focus the countries of Latin America for exploring business opportunities. He said that Paraguay has become an energy sufficient nation due to hydro electric plants as only our Itaipu Dam produces around 18,000MV of electricity. He said that cooperation in hydel power generation could be one of the areas for strengthening economic relations between the two countries.

He said that a Trade Fair of Paraguay which would be held in July would provide an opportunity to the business community of both the countries to come closer. He said that trade delegation from Islamabad Chamber of Commerce and Industry should also participate in the said fair.

In his welcome address, Yassar Sakhi Butt, President ICCI said that the annual bilateral trade between Paraguay and Pakistan was very low which is around $11million and underlined the need to further improve it. He said that exchange of business delegations could be better option for exploring areas of common interest.

He said that this is the right time to focus Latin American markets and measures are required to be taken for improving trade relations between Pakistan and the Latin American region.

ICCI president was of the view that investment cooperation was another area in which both countries could collaborate for mutual benefits. Information technology, telecommunication, construction, automobile parts, food processing, fisheries, agriculture, hotel industry and real estate offer tremendous opportunities and potential for cooperation, he added.

He said that organizing of joint cultural shows and frequent exchange of business delegations are the options which could be used to exploit untapped bilateral trade and investment potential in both countries.

For more information, contact:
Islamabad Chamber of Commerce and Industry
Chamber House, Aiwan-e-Sanat-o-Tijarat Road, Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526 and 225 3145
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

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