Islamabad, November 18, 2014 (PPI-OT): H.E. Mr. Mpendulo Kumalo, High Commissioner of South Africa vowed to make all-out efforts to boost bilateral trade between Pakistan and South Africa as the two countries possess good potential to enhance cooperation in multiple fields of business and economy. He was addressing business community during his visit to Islamabad Chamber of Commerce and Industry.
He said South Africa offered attractive incentives to foreign investors and due to which almost all world giant companies had set up manufacturing facilities in his country. He said protection tariffs in textile were very high in South Africa, however, it was a golden opportunity for Pakistan investors to set up textile units in South Africa and promote exports to South American and other world markets.
He said South Africa was very strong in mining with great expertise and advanced technology and Pakistan could better exploit its mineral resources by promoting cooperation in this field with South Africa. The envoy said that South African investors would also be motivated to explore Pakistan for investment in various fields.
He said South African customers were very choosy and Pakistan should export products that should meet high quality standards to achieve better results. He assured to facilitate Pakistani businessmen in exploring South Arica for business opportunities.
In his welcome address, M. Shakeel Munir, Acting President, Islamabad Chamber of Commerce and Industry said that trade between the two countries was very nominal as South Africa’s trade with world was $75 to $80bn while its trade with Pakistan was less than one per cent of its total trade despite the fact that there was a great potential to improve it.
He said both countries should encourage frequent exchange of trade delegations to find out new avenues of mutual cooperation. He said many Pakistani products including textiles, pharmaceutical and marble etc. could find better market in South Africa and it should try to enhance their import from Pakistan.
He said close cooperation between the two countries would be very beneficial for their economics as Pakistan was a gateway to huge South Asian Market for South Africa and similarly, South Africa was a gateway to African Market and Pakistani entrepreneurs.
He said of the view that exhibitions of products was an effective tool to promote exports and both countries should facilitate businessmen in organizing such events to improve bilateral trade. He said South African High Commission should share business related information with Chambers of Commerce, which would help in strengthening trade relations.
For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Tel: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950