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Pakistan, Spain for Diversifying Trade Ties

KARACHI: Standing Committee on Diplomatic Affairs Chairman Alamgir Firoz said on Tuesday that Pakistan and Spain enjoyed cordial relations, but more dedicated efforts are required from both sides to further improve two-way trade. Pakistan’s major exports to Spain included some textiles products while Pakistan’s major imports from Spain included all sorts of machinery and parts, chemical materials and products, iron, steel etc, which showed that bilateral trade is confined to few items and stressed for focusing on areas to further promote bilateral trade.
The frequent exchange of trade delegations and organising single country exhibitions should be encouraged to promote trade and economic relations up to real potential. He further added that agreements for the economic cooperation as well as to form a joint business council should be signed to promote business linkages between the private sectors of both countries.
Spain also wanted to further enhance trade with Pakistan as both countries have good potential to improve bilateral trade and economic relations, said SpanishAmbassador Carlos Morales. He further added that Investment Policy should be shared.
He said Spain trade with Bangladesh is five times more than Pakistan. Pakistani business community should reach out to the outside world to show the potential of their products that would help in attracting more investment and promoting trade. He said $46 billion China-Pakistan Economic Corridor is a highly positive development as it has generated a lot of interest in foreign investors to look at Pakistan with more interest.
He said both countries should focus on diversification to improve trade and identified IT as another potential area of mutual cooperation. He said FPCCI should take a sector-specific business delegation to Spain and assured that his embassy would cooperate to make this visit successful.
Khalid Tawab, former Senior Vice President FPCCI proposed that a trade counselor should be deputed to Karachi in response of it. Ambassador assures that they will surely look into this matter. Tufail appreciated the efforts done by Spanish ambassador to enhance the trade between the countries and thanked him for visiting Federation House.
Source: Daily Times