Negative image discourages foreign investors
Oman envoy finds Pakistan as a safe and peaceful country.
FAISALABAD:
Foreign investors are reluctant to invest in Pakistan due to negative image portrayed by the international media, said Oman Ambassador Muhammad bin Saad bin Mohammad Al-Lawati.
Speaking during a meeting at the Faisalabad Chamber of Commerce and Industry on Saturday, Al-Lawati said that contrary to the negative image, he found peace and safety in Pakistan. He stressed the need for improving bilateral trade ties between the two countries.
Though Oman and Pakistan had historical relations, unfortunately trade ties were not a fraction of the political relations, he said and pointed to chambers of commerce and other trade bodies which would play their role in developing the trade relations.
In fiscal year 2010, bilateral trade stood at $296.6 million, which was in favour of Oman. Oman exported $155.9 million worth of goods while Pakistan’s exports stood at $140.7 million. Vast prospects exist for expansion of trade including joint ventures and transfer of technology from Oman.
Al-Lawati called for holding single-country exhibitions as well as exchange of trade delegations between the two sides.
However, he pointed out that though Oman had announced a $5 million aid for the development of Balochistan, the amount could not be spent due to unforeseen circumstances.
FCCI Vice-President Rehan Naseem Bharara said there was tremendous trade potential between the two countries as Faisalabad alone had been contributing about 40-45% of total textile exports of the country.
Published in The Express Tribune, March 18th, 2012.
Foreign investors are reluctant to invest in Pakistan due to negative image portrayed by the international media, said Oman Ambassador Muhammad bin Saad bin Mohammad Al-Lawati.
Speaking during a meeting at the Faisalabad Chamber of Commerce and Industry on Saturday, Al-Lawati said that contrary to the negative image, he found peace and safety in Pakistan. He stressed the need for improving bilateral trade ties between the two countries.
Though Oman and Pakistan had historical relations, unfortunately trade ties were not a fraction of the political relations, he said and pointed to chambers of commerce and other trade bodies which would play their role in developing the trade relations.
In fiscal year 2010, bilateral trade stood at $296.6 million, which was in favour of Oman. Oman exported $155.9 million worth of goods while Pakistan’s exports stood at $140.7 million. Vast prospects exist for expansion of trade including joint ventures and transfer of technology from Oman.
Al-Lawati called for holding single-country exhibitions as well as exchange of trade delegations between the two sides.
However, he pointed out that though Oman had announced a $5 million aid for the development of Balochistan, the amount could not be spent due to unforeseen circumstances.
FCCI Vice-President Rehan Naseem Bharara said there was tremendous trade potential between the two countries as Faisalabad alone had been contributing about 40-45% of total textile exports of the country.
Published in The Express Tribune, March 18th, 2012.