Bilateral relations: FCCI, EU discuss trade opportunities

EU countries contribute more than 36% to total FDI in Pakistan.

FAISALABAD: Faisalabad Chamber of Commerce and Industry (FCCI) President Suhail Bin Rashid has discussed new opportunities for trade and investment during a seminar organised by the European Union (EU) Ambassador Lars-Gunnar Wigemark in Lahore.

While appreciating the efforts of Wigemark, Rashid said that a large number of European companies were interested to invest in Pakistan.

“The EU countries have contributed more than 36 % share towards the total Foreign Direct Investment (FDI) in Pakistan,” added Rashid.

He said that he had a chance to meet various ambassadors of EU countries on the sideline of the seminar and consensus was that, due to the current energy deficit in Pakistan, this sector required foreign investment to benefit from the angro-based potential in Pakistan.

He urged the EU countries to play their roles for grant of the GSP Plus status to Pakistan from EU Parliament in its forthcoming meeting as the country suffered colossal loss of more than $100 billion as a result of the war on terror.

Speaking about the contribution of EU towards the economy of Pakistan, he said that it is the largest trading partner with a trade volume of over €9 billion in 2012.

Meanwhile, the efficacy of the seminar was judged with participation of influential business leaders in Pakistan along with productive discussions held on competitiveness, investment, energy and trade policies followed with effective presentations on opportunities available for the EU businesses and the prospect of trade for Pakistan in the EU.

Published in The Express Tribune, December 6^th, 2013.

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