$1.52m was the the balance of
trade in favour of Romania
during FY13.. PHOTO: FILE
KARACHI: Romania Ambassador to Pakistan Emilian Ion has said that though trade volume between Pakistan and Romania has been improving with the balance of trade in favour of Romania, the current volume does not depict the real potential and can be improved further.
Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI) on Wednesday, Ion said that Pakistan has a huge market which offers excellent opportunities to Romanian businessmen in various sectors of the economy particularly the textile and agriculture sectors.
The Romanian ambassador also advised KCCI to arrange visit of a trade delegation to Romania in order to promote business to business linkages and strengthen trade ties between the two countries. In this regard, he assured full support to KCCI in organising the delegation’s visit to Romania.
Highlighting Romania’s support to Pakistan in EU’s grant of GSP Plus scheme, Romanian ambassador hoped that Pakistani business community succeeds in benefitting from the situation and enhances its exports to the EU.
“Romania is Pakistan’s important trading partner within the European Union”, he added. Ion recalled that his government decided to reopen its Consulate in Karachi last year with a view of promoting commercial and business relation.
Speaking on the occasion, KCCI Acting President Muhammad Idrees while appreciating Romanian government’s support to Pakistan in securing EU’s GSP Plus status, said that the business community expects to receive similar type of assistance and cooperation from Romanian government in the future as well.
“As far as economic relations are concerned, Pakistan and Romania enjoy friendly and bilateral trade relations with each other,” he added.
During Fiscal Year 2013, Pakistan exported goods to Romania worth $23.83 million whereas goods imported by Pakistan from Romania stood at $25.34 million, making trade balance favorable for Romania by just $1.52 million.
He stressed that both the countries were not utilising their full potential and therefore trade opportunities should be exploited.
Published in The Express Tribune, May 29th, 2014.
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One step forth but we really need to make use of GSP plus status while we have it and control the energy crisis