LAHORE: Coming as a boost to the automotive industry, Belarusian companies have expressed interest in investing in Pakistan by collaborating with local auto part manufacturers.
A delegation of Belarusian businessmen showed interest during a meeting with Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) Senior Vice Chairman Mumshad Ali.
BelAZ Director Strategy Vitaly Kuranda said Belarus attached great importance to its economic relations with Pakistan.
He added the country’s central position in Europe offered an easy access to several markets. Being one of the most industrialised countries after independence from the Soviet Union, the gross domestic product of Belarus has been growing every year.
The delegation urged Paapam members to explore the possibility of joint ventures in automobile, services and industrial products.
They highlighted the vast potential existed for Pakistan and Belarus to enhance bilateral trade and economic ties. They pointed out that Belarusian economy was dominated by services and industrial products and this option should be explored by the Pakistani business community.
Ali apprised the visiting delegation about the vital role Paapam played in the socio-economic development of Pakistan. “Paapam is seeking technical collaboration with international companies for hi-tech auto part manufacturing in Pakistan,” he said.
Ali stressed that the association was looking forward to developing contacts with international manufacturers, besides analysing the possibility of joint ventures with them.
“We are looking for joint ventures and trade agreements for the development of engine and hi-tech consumable parts for aftermarket and OEM consumption, besides targeting Middle Eastern, Central Asian and African markets.”
According to Ali, the dynamics of Belarus are different from other central Asian states and the country has a unique strength in many areas.
He underscored the need for frequent people-to-people contact, regular exchange of trade information and business delegations.
Published in The Express Tribune, June 20th, 2015.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ