Bilateral ties: Belgium calls Pakistan good market for investors

Ambassador speaks at Belgian companies’ catalogue exhibition.

KARACHI: Belgian Ambassador Peter Claes has said that Pakistan is a good market that offers immense opportunities to foreign investors.

The embassy of Belgium had been encouraging investors to visit Pakistan with a view to exploring more business opportunities, he said while speaking at a catalogue exhibition of Belgian companies.

He pointed out that Pakistan’s exports to Belgium had improved slightly in the recent past with expectations that trade between the two countries would rise further in the future.

Saying that Belgium had a central location in the European Union (EU), he called for more integrated efforts focusing on exchange of trade delegations, institutional contacts between chambers of commerce and participation in trade fairs.

Commenting on the visa policy, he said Belgium was part of the EU and had to follow certain rules and regulations for issuing visas.

However, he suggested that businessmen and industrialists of Pakistan would receive full assistance and facilitation in visa applications.

He assured the Karachi Chamber of Commerce and Industry (KCCI) of full cooperation in strengthening business relations between the two countries.

The KCCI had organised the exhibition in collaboration with the Belgian embassy in an effort to promote bilateral trade.

Belgium’s Trade Commis­sioner Abid Hussain remarked that the exhibition was not just an isolated event but was part of a series that reflected the expanding economic relations between Pakistan and Belgium. It is Pakistan’s fifth largest trading partner.

“Belgium is a viable and trustworthy partner with solid credentials in the industrial and business world. The importance we attach to our relations with Pakistan is quite evident in our approach,” he added.

He invited Pakistani businessmen and industrialists to explore the possibility of investing in Belgium.

Stressing that Belgium was situated at the heart of the EU and provided easy access to markets like Germany, France and Holland, Hussain suggested that Pakistani businessmen should set up distribution centres or warehouses there.

KCCI President Iftikhar Ahmed Vohra said the chamber was a keen supporter of strengthening economic relations with EU countries, especially Belgium.

He noted that during fiscal year 2013-14, Pakistan exported goods valuing $470.57 million to Belgium while its imports amounted to $427.76 million.

The trade balance was slightly in favour of Pakistan, but there was still room for enhancing trade. “We can also benefit from Belgian expertise in engineering, automobile, chemicals, electrical and electronics sectors.”

Vohra, while underscoring the need of changing the negative perception about Pakistan, urged the ambassador to encourage more Belgian companies to invest in Pakistan, especially in energy and textile.

Published in The Express Tribune, December 6^th,  2014.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.