Re-focus: LCCI emphasises on regional trade
Mumtaz said the promotion of regional trade also offers promising benefits to the industry
LAHORE:
The Lahore Chamber of Commerce and Industry (LCCI) has urged the private sector to concentrate on the promotion of regional trade that is more efficient in terms of cost and logistics. LCCI President Ijaz A Mumtaz said this while talking to a group of businessmen here on Thursday. He said the country occupied a strategic location and had an ability to act as a major player in transforming the region into a trade hub. Mumtaz said the promotion of regional trade also offers promising benefits to the industry as it would enable it to source raw materials from the region that would ultimately reduce cost of production and create opportunities to improve economy of scales by having easy access to neighbouring markets. Mumtaz said growth in South Asian Association for Regional Cooperation (Saarc) region that houses 22% of the world population has been projected to surpass 50% of the world’s GDP by 2030.
Published in The Express Tribune, October 3rd, 2014.
The Lahore Chamber of Commerce and Industry (LCCI) has urged the private sector to concentrate on the promotion of regional trade that is more efficient in terms of cost and logistics. LCCI President Ijaz A Mumtaz said this while talking to a group of businessmen here on Thursday. He said the country occupied a strategic location and had an ability to act as a major player in transforming the region into a trade hub. Mumtaz said the promotion of regional trade also offers promising benefits to the industry as it would enable it to source raw materials from the region that would ultimately reduce cost of production and create opportunities to improve economy of scales by having easy access to neighbouring markets. Mumtaz said growth in South Asian Association for Regional Cooperation (Saarc) region that houses 22% of the world population has been projected to surpass 50% of the world’s GDP by 2030.
Published in The Express Tribune, October 3rd, 2014.