Collaboration: Netherlands announces growth fund for Pakistan

Dutch ambassador assures increase in bilateral trade by up to $1b.

ISLAMABAD:

To support the Small and Medium Enterprises (SMEs) in emerging markets and developing countries like Pakistan, the Netherlands has announced the Dutch Good Growth Fund (DGGF).

Addressing the business community at Islamabad Chamber of Commerce and Industry (ICCI), Ambassador of Netherlands to Pakistan Marcel de Vink said the project will create jobs and increase the production capacity of the local industry.

He added that the Dutch CBI programme will support exchange of technical expertise in 27 sectors of the Pakistani economy. “Netherlands is the fifth largest trading country in the world, but its bilateral trade with Pakistan is around $900 million,” said Vink. “This is far below the true potential of both countries and efforts should be made to improve two-way trade as there exists a huge potential.”

The Dutch Ambassador identified water, agriculture, logistics and energy as the four main potential areas of cooperation between the two countries and resolved to increase the bilateral trade up to at least $1 billion in the future.

He assured that Netherlands Embassy would facilitate in bringing businessmen of both countries together and the visit of Dutch Minister for Trade and Development Lillianne Ploumen to Pakistan in May reflected the keen interest to increase trade. He strongly supported grant of GSP Plus to Pakistan, adding that the country’s manufacturers should ensure compliance to EU standards to achieve maximum benefits from this concession.

ICCI President Shaban Khalid appreciated the paradigm shift in Netherlands’ policy for Pakistan from aid to trade as it will multiply the reciprocal trade between the two countries. “Sixty percent produce of Pakistan is wasted due to lack of value chain facility,” said Khalid. “Netherlands is the second largest exporter of agricultural products in the world and we hope that Netherlands would cooperate with Pakistan by sharing expertise and transferring technology for improving agricultural productivity and exports.”

Khalid also stressed that Netherlands should explore Pakistan for potential opportunities.

Published in The Express Tribune, July 5^th, 2014.

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