AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore, June 19, 2012 (PPI-OT): Pakistan is a good destination for investment as it offers an excellent platform to UK businessmen for being gateway to landlocked Central Asian States and Middle East in terms of goods and services.
These views were expressed by the LCCI President Irfan Qaiser Sheikh, who was leading a strong 37-member business delegation, while speaking at seminar on “Business Prospects in Pakistan” arranged by Birmingham Chamber of Commerce and Industry on Tuesday.
The LCCI President said that Pakistan for being situated in the heart of Asia is a gateway for businesses looking to expand into the Middle East and Southern Asian Markets. He said Pakistan’s economy is set to improve substantially.
Irfan Qaiser Sheikh said that Pakistan is open for business and entrepreneurs and investors can play a major role in Pakistan’s economic recovery as the Pakistan Government is committed to ensure that the country becomes an attractive destination for them.”
The LCCI President said that the collaboration among very dynamic institutions for “Business Opportunities in Pakistan” will go a long way in bringing much needed positive turnaround in the economy of Pakistan.
He said that the LCCI delegation which is comprised of leading sectors of Pakistan like petrochemicals, pharmaceuticals, tourism, readymade garments, artificial leather, leather and leather products, auto-parts, agriculture components, lubricants, rice, halal meat is really interested to collaborate and have joint ventures with UK based companies in the respective sectors.
It is a well established fact that the UK has significant importance in the economy of Pakistan whether it is matter of imports, exports, foreign direct investment, economic cooperation and etc. UK is the gateway to Pakistani products to have access to EU. The positive trends in growth of bilateral trade are the outcome of long lasting trade links between Pakistan and UK.
“We are here to play our due role to set out certain steps to explore ways to promote investment and support businesses. We believe that our efforts will surely contribute to increase bilateral trade between Pakistan and UK to £2.5 billion by 2015 which is the joint vision of Premiers of Pakistan and UK.”
The LCCI President said that the Enhanced Strategic Dialogue launched by the Prime Ministers of the UK and Pakistan in 2011 set a target to increase bi-lateral trade between the two countries to £2.5 billion by 2015. With £1.9 billion worth of trade already flowing between the two countries, we are on the right track to meet the target.
Despite facing some tough circumstances, there are some positive indicators prevailing in Pakistan as our economy is growing at around 3.5% to 4%., our exports increased to the record level of US$ 25 billion, law and order situation has significantly improved, inflation has been checked and etc. All these positives must be considered by the UK based investors to evaluate Pakistan as a next destination for investments.
He said Telecommunications, IT, Food and Beverages, Financial Services and Education and Training do offer great opportunities to UK based companies but there are some other sectors which may also promise excellent returns. Energy sector has gained altogether vital importance in the prevailing crisis of energy all over the country.
Similarly, petrochemicals, dairy, livestock, consumer goods, pharmaceuticals, oil and gas exploration and etc are few of those sectors which are yet to be fully exploited considering the immense export potential unutilized.
He said that the exchange of trade delegations between the two countries can prove to be an effective strategy for boosting the level of bilateral trade.
The seminar featured presentations from investment experts. It provided entrepreneurs with details of the economy, industry and success stories. Investment experts talked about in what areas UK businessmen can invest in Pakistan and what help and incentives the Pakistan government and other institutions like chambers of commerce have to offer for investors.
The seminar was attended by business leaders, young entrepreneurs and other members of the business community.
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