AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore, June 20, 2012 (PPI-OT): The Nepalese Ambassador Wednesday gave a good recipe to jack-up Pak-Nepal economic relations and enumerated well-tailored measures to boost up existing trade figures that have no match to their respective potentials.
The Ambassador, Bharat Raj Paudyal, was speaking at the Lahore Chamber of Commerce and Industry. His Deputy DP Bhandari also gave a detailed presentation on available business opportunities in Nepal.
The LCCI Acting President Kashif Younis Meher, Vice President Saeeda Nazar and Vice President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik, Former LCCI Senior Vice President Abdul Basit and former Vice President Aftab Ahmad Vohra gave their point of view on as to how the economic ties between the two countries could further be enhanced.
The Ambassador said that Nepal greatly values its relations with Pakistan that are based on mutual respect, mutual trust and shared perceptions on regional and international issues.
He said that exchange of sector-specific trade delegations, single country exhibitions, dissemination of economic data and a proactive involvement of chambers of commerce in the two countries could do miracles as far as two way business in concerned.
He said that Nepal is ready to make special bilateral trading arrangements with Pakistan for the sake of economic well being of both the countries as Nepalese businessmen feel quite comfortable while dealing with their Pakistani counterparts.
He said that the fast changing global scenario calls for innovative economic strategies therefore the businessmen in the two countries should join hands for a better tomorrow.
He said that at present the mutual trade ties between Pakistan and Nepal are negligible and the state of affairs asks for an increased frequency of reciprocal visits by the Pakistani and Nepalese business community.
The Ambassador urged the LCCI Acting President to bring a delegation of Lahore Chamber of Commerce and Industry to Nepal for having first hand knowledge about the economic opportunities in Nepal as frequent visits are a way to expand business ties.
The LCCI Acting President Kashif Younis Meher said that Nepal has always been an important partner for Pakistan in the SAARC region. Both the countries enjoy friendly relations based on historical linkages and have common views and commitment to preserve regional peace and security. As far as mutual trade ties are concerned, both the sides need to do much more to know about each others’ potential areas.
He said there should be more exchanges of delegations and people-to-people contacts on regular basis to add new impetus to and further invigorate existing cordial ties. He suggested that both the countries should appoint distributors of their respective famous brands in the two countries.
He said, “We need to focus on the promotion of bilateral cooperation to ensure our continued partnership for achieving much needed progress and prosperity in our region and at the international level.”
He also suggested joint endeavours for promoting cooperation in the fields of health, human resource development and agriculture and setting up of joint ventures in textiles and pharmaceutical sectors.
He said that considering the size of Nepalese economy, whose total trade in 2011 was just over US$ 2 billion, it would be fair to expect that both Pakistan and Nepal should create some opportunities of trade with each other. The exports to Nepal which have been way below $2 million still have great potential to grow.
In contrast to that the imports from Nepal followed upward trend which grew from US$ 0.84 million in 2009 to US$ 1.99 million in 2011. In that situation, both the sides need to make concerted efforts and ensure maximum and regular interaction among the business communities of Pakistan and Nepal.
Furthermore, he said, people to people contact, tourism links, exchange of business delegations, direct air link between Pakistan and Nepal and establishment of display centers in each other’s countries can considerably upgrade the bilateral trade. LCCI Executive Committee Members Shoaib Zahid Malik, Sheikh Mohammad Ayub and Ahmad Husnain also spoke on the occasion.
For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854