Future cooperation: Finland asks private sector to enhance interaction

Lahore chamber points out bilateral trade is losing momentum

LAHORE: Finland and Pakistan have a huge scope to expand relations in various areas of economy and private sector in Pakistan should enhance its interaction with Finnish counterparts, suggested Honorary Consul General of Pakistan in Finland Wille Eerola.

"Existing trade volume between Pakistan and Finland is enough to make the point that both sides have multifaceted and strong trade ties. A number of Finnish companies have already recognised Pakistan's potential and are working here," he said.

He made the remarks while talking to Lahore Chamber of Commerce and Industry (LCCI) President Malik Tahir Javaid at the chamber premises. Other senior officials of the LCCI were also present.

Javaid said trade between Pakistan and Finland had been losing momentum for the past three years which must be reverted. In 2014, the trade volume stood at $121 million that dipped to $90 million in 2016. In 2014, Pakistan exported goods worth $60 million to Finland which dropped to $27 million in 2016.

"It will not be wrong to say that such a low level of two-way trade does not reflect the actual potential between the two countries," Javaid commented.

He called on business community of both sides to improve their linkages and frequency of general, multi-sector and sector-specific exchanges. Similarly, in order to explore and capitalise on all present and future bilateral trade opportunities, "we have to ensure regular follow-up steps".

He pointed out that opportunities of joint ventures existed in the field of power generation and for the development of biomass technology. Finnish equipment and technologies could help exploit Pakistan's full potential in agriculture, horticulture, dairy and livestock sectors, he said.

Published in The Express Tribune, March 10^th, 2018.

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