LCCI, Philippines embassy to establish hotline-like contact

They will exchange trade, investment-related information

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) and Pakistan embassy in the Philippines have agreed to establish hotline-like contacts in a bid to ensure timely exchange of trade and investment-related information.

The understanding was reached at a meeting between Pakistan Ambassador to the Philippines Dr Aman Rashid, LCCI President Abdul Basit, Senior Vice President Amjad Ali Jawa and Vice President Muhammad Nasir Hameed Khan at the LCCI office.

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Rashid said the Philippines - a Southeast Asian country - was a dynamic consumer market and had a vast scope for Pakistani pharmaceutical, rice, textile, yarn, leather and fresh fruit, particularly oranges, businesses.

He assured businessmen that the embassy in the Philippines would extend maximum cooperation to Pakistan’s business community.

Basit said the LCCI would make efforts focused on specific sectors for ramping up the volume of two-way trade. He saw a lot of potential in both the countries to expand bilateral trade.

Pakistan’s major exports to the Philippines were cotton, cereals and pharmaceutical products, but Basit pointed out that these constituted a very small segment of Manila’s total imports of these commodities from the rest of the world.

Pakistan is one of the largest producers of cotton and rice in the world. The aroma and quality of the rice is superb. Pakistan also has a highly developed pharmaceutical industry.

“Businessmen of the Philippines may consider the quality and price of these Pakistani products to economise on their procurement cost,” Basit suggested.



Pakistan could also increase its import of vehicles, machinery, electrical and electronic equipment and mineral fuels from the Philippines.

He emphasised that frequent exchange of business delegations and holding of single-country exhibitions would yield desired results as exchange of business-related information helped respective societies to familiarise with each other.

Being an agrarian economy, the LCCI chief said, ample opportunities were available in the food processing sector. “Pakistan is deficient in post-harvest technology and will welcome transfer of technology from the Philippines through joint ventures,” he added.

Published in The Express Tribune, September 15^th, 2017.

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