Ecuador offers Pakistan market access to S America

Points to lack of contact between private sectors for nominal bilateral trade

ISLAMABAD: Ecuador Ambassador German Alejandro Ortega Almeida has suggested that Pakistan could achieve better access to South American markets by developing close cooperation with Ecuador.

“Ecuador wants to increase trade relations with Pakistan as both countries could do trade in many goods,” he said.

The envoy was speaking to members of the Islamabad Chamber of Commerce and Industry (ICCI) which he visited to exchange views with business community for enhancing bilateral trade and economic relations.

He, however, pointed out that lack of direct contact between private sectors of Ecuador and Pakistan was the main reason behind nominal trade between the two countries.

Both should focus on frequent exchange of trade delegations to explore new areas of mutual cooperation, he stressed and assured businessmen that Ecuador Embassy would fully cooperate with the ICCI in bringing private sector of both countries closer which was important to improve two-way trade.

In his welcome address, ICCI President Sheikh Amir Waheed said Pakistan considered Ecuador significant to its growing demand for opening up new avenues of cooperation and investment opportunities for businessmen.

He cited different sectors of Pakistan’s economy including infrastructure development, manufacturing, exploration of oil, gas and minerals, energy, construction, information technology, engineering and automobile that offered great investment opportunities while the government gave attractive incentives to foreign investors.

He emphasised that Ecuador’s investors should visit Pakistan to explore investment avenues in their areas of interest. Turning to the China-Pakistan Economic Corridor (CPEC), Waheed said the massive project had created many new opportunities for investment and joint ventures in Pakistan.

Moreover, nine Special Economic Zones will be established under CPEC and it is right time for Ecuador investors to focus on Pakistan for business opportunities.

He assured the envoy that the ICCI would like to work with the embassy of Ecuador for improving bilateral trade and economic relations.

ICCI Senior Vice President Muhammad Naveed Malik and Vice President Nisar Mirza said by developing close cooperation with Pakistan, Ecuador could gain better market access to South Asia, the Middle East and Central Asia. Focus on Pakistan would bring multiple benefits to its economy, they said.

Published in The Express Tribune, April 6^th, 2018.

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