Diversify export base, envoy tells Pakistan

Ambassador of Spain says country needs to focus on value addition

FAISALABAD: Bilateral trade between Pakistan and Spain is hovering around $1 billion and steps must be taken to tap the potential by encouraging frequent exchange of trade delegations and organising single-country exhibitions, said Ambassador of Spain Carlos Morales.

During a meeting at the Faisalabad Chamber of Commerce and Industry (FCCI), he said that in 2014, Pakistan’s exports recorded a phenomenal increase of 44% immediately after the grant of GSP Plus status to Pakistan by the European Union (EU).

He said that Pakistan’s exports are mostly restricted to textile and hence, the country should diversify its products, particularly in IT and food sectors.



European countries, including Spain, have developed their agriculture sector, which has now been declared as an industry, he said, adding Pakistan produces a large number of agricultural products, but it lacks processing and value addition.

Morales said that Pakistan has potential to develop its agricultural and livestock sectors to give a quantum jump to its exports. However, for this purpose efficient food processing is imperative, he added.



He also said that he will visit Faisalabad in the middle of July to personally review investment opportunities in the city.

Published in The Express Tribune, May 19^th, 2018.

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