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Vice President Confederation of Asia Pacific Chambers of Commerce and Industry stresses importance of regional integration among countries of Asia Pacific region

Islamabad, October 08, 2012 (PPI-OT): Mr. Tariq Sayeed, Vice President of the Confederation of Asia Pacific Chambers of Commerce and Industry, former President of FPCCI and founder and former President of SAARC CCI has stressed the importance of regional integration among the countries of the Asia Pacific region which may be achieved through the creation of an expanded and coherent market with stable financial and efficient logistics systems.

He said this during the visit of a high ranking delegation from CACCI to the FPCCI Head Office in Karachi on October 8, 2012, which was led by the President of CACCI, H.E. Amb. Benedicto V. Yujuico, and comprised of leading businessmen from Taiwan, Hong Kong and the Philippines.

Speaking on the occasion, Mr. Tariq Sayeed said that the CACCI President’s visit to Pakistan was important as well as timely, because the 26th CACCI Conference which was held in Kathmandu, Nepal last week, concluded very recently, following which the President CACCI accompanied by his delegation was visiting Pakistan for the first time ever.

This in itself spoke about the confidence expressed by the President CACCI in the investment and trade potential of Pakistan. Mr. Tariq Sayeed congratulated Amb. Yujuico on his re-election as President of CACCI at the Kathmandu conference, and also thanked the CACCI for re-electing him as Vice President of CACCI for another term.

Mr. Tariq Sayeed said that recent developments in countries in this region indicated that Asia-Pacific had overtaken North America as home to the most millionaires for the first time, with 3.37 million high net worth individuals (HNWIs) in 2011 compared to North America’s 3.35 million and Europe’s 3.17 million. Furthermore, the diverse nature of these countries’ exports and economies means the outlook for the region as a whole remains very strong.

He pointed out that the rapid growth of regional cooperation in the form of various cooperatives such as the Association of South East Asian Nations (ASEAN), South Asian Association of Regional Cooperation (SAARC) and the Economic Cooperation Organization (ECO), as well as various innovative types of sub regional cooperative ventures, should be capitalized by the private sector of these countries, which is confronted with challenges of gaining access to finance, technology, human resources and market information.

He also mentioned energy as another challenge facing these countries, and said that the Asia Pacific region may devise a regional strategy to fulfill the growing energy demand. Amb. Benedicto V. Yujuico in his comprehensive multimedia presentation supported by facts and figures disclosed that the centre of economic gravity is shifting from the West region to the Asian region. He therefore urged the CACCI member countries to take advantage of opportunities in these changed circumstances.

He invited the businessmen of Pakistan to participate in the 27th CACCI Conference to be held in March 14-15, 2013 in Cebu City, Philippines and offered to concurrently organize a “Made in Pakistan” Exhibition. He also invited Pakistani businessmen to join the CACCI Presidential visit to Myanmar in January and Japan in April 2013.

Earlier speaking on the occasion, Haji Fazal Kadir Khan Sherani, President of FPCCI welcomed the President CACCI and his entourage at Federation House, and explained the role and functions of FPCCI to the foreign delegates.

He urged all member countries of CACCI to collaborate with each other and devise a roadmap for the future to help address the challenges facing the region. He also lauded the CACCI delegation’s visit to Pakistan and hoped that this visit would set the precedent for a more frequent exchange of delegations between FPCCI and CACCI in the future.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

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