Belgium keen to step up trade with Pakistan

Envoy highlights various prospects to enhance bilateral trade, investment, JVs

ISLAMABAD:

Belgium is keen to invest in Pakistan as it is a potential country for business and investment activities, said Ambassador of Belgium Philippe Bronchain.

During a visit to the Islamabad Chamber of Commerce and Industry, the ambassador along with his Trade Commissioner Abid Husain discussed various prospects for further enhancing bilateral trade, investment and joint ventures between Belgium and Pakistan.

Speaking on the occasion, Husain said Pakistan was mostly exporting textile products and some raw materials to Belgium. However, he stressed that Pakistan needed to invest in technology for producing value-added products that would increase its footprint in foreign markets.

He pointed out that it would help Pakistan fully capitalise on the GSP-Plus concession of the EU in order to enhance its exports. Furthermore, he said that the Pakistani diaspora in Belgium could play a role in boosting bilateral trade ties between the two countries.

ICCI President Muhammad Ahmed Waheed said, “Belgium was one of Pakistan’s important trading partners within the European Union, however, the bilateral trade volume between Pakistan and Belgium was still below $1 billion despite the both countries having the potential to promote trade in many areas.”

Published in The Express Tribune, September 9^th, 2020.

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