PHOTO: REUTERS
"The private sector has an important role to play in enhancing the existing trade volume between the two countries, which currently stands below potential," the high commissioner said.
Appreciating the LCCI's efforts to increase Pakistan's external trade, she promised cooperation and support of the foreign mission.
They vowed to work towards expanding trade relations between the two countries by creating and adopting strategies aimed at expediting commerce.
According to an LCCI press release, Basit responded with suggestions of his own including the establishment of display centres for Pakistani products by the mission and cultural centres to develop preferences for Pakistani goods.
"These measures will help Pakistan get due share for its products in the global market by attracting foreign consumers," he added.
Terming Pakistan a production base of Halal products, Basit said acquiring a 10% share in the $3.66 trillion Halal goods industry would double the current value of the country's exports.
Highlighting the strong bilateral links, Basit expressed concern over the comparatively low level of Pakistan's exports to Australia.
"We are concerned about the comparatively low exports to Australia, which results in an unfavourable trade balance," the LCCI president said, adding the current level of exports to Australia did not match Pakistan's actual potential.
He also underlined the importance of trade diplomacy in providing support to Pakistan's exporters.
Published in The Express Tribune, July 1st, 2017.
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