FAISALABAD: Argentinian Ambassador Ivan Ivanissevich called for sector specific measures and collective efforts to raise the bilateral trade volume between the two countries, which is less than the real potential.
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Exchanging views during his visit to the Pakistan Textile Exporters Association (PTEA) on Wednesday, he said that the business communities of both the countries must join hands and work together for improving trade ties by regularly participating in exhibitions, organising trade delegations and other such trade promotional activities.
He said that 60% of Argentina’s textile products are being imported and the remaining 40% are being produced locally; whereas the textile clothing imports have also witnessed a surge of 27% in 2016, which is an opportunity for Pakistani textile producers to benefit from the situation.
Talking about PTEA chairman’s comments, about investment opportunities in Pakistan, the ambassador opined that there are opportunities for Argentinian farmers to invest and cooperate in the agriculture sector as Pakistan’s agriculture sector is not as developed compared to Argentina’s.
“We can share our knowledge on how to improve yield and also assist in improving irrigation, which would result in more yield and less water consumption,” said Ivanissevich. He stressed that the Argentinian Embassy and PTEA must maintain a working relationship in order to help identify different areas of cooperation.
Earlier, in his welcome address, PTEA Chairman Ajmal Farooq said that Argentina is a reliable supporter of Pakistan and both countries enjoy cordial relations and understanding on global and regional issues.
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He termed Argentina as one of the major export destinations in South American region, saying that the volume of bilateral trade is less than a quarter of the real potential.
Quoting figures, he said that during outgoing fiscal, Pakistan’s exports to Argentina were around $52 million; whereas Pakistan’s imports from Argentina were $194 million.
Published in The Express Tribune, March 23rd, 2017.
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