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Lahore, May 11, 2012 (PPI-OT): Czech Republic and Pakistan have huge potential for possible Joint Ventures in Energy, Oil and Defence sectors therefore Pakistani businessmen should come forward to avail opportunities in these areas.
This was stated by a six-member strong Czech Republic business delegation while talking to LCCI President Irfan Qaiser Sheikh during a visit to the Lahore Chamber of Commerce and Industry on Friday.
The LCCI Senior Vice President Kashif Younis Meher, Vice President Saeeda Nazar and Honorary Consul of Czech Republic Dr Kamal Monnoo also spoke on the occasion. First Secretary embassy of Czech Republic Jaroslev Rief also accompanied the delegation.
The Members of the delegation were of the view that both the countries have strengths in a number of areas therefore there exists huge potential of trade between the two sides.
Czech Republic delegation members including Stepan Kriz, Jiri Horacek, Milos Rybnicek, Zdenek Cvrkal, Josef Brettl and Marcel Kovac also gave detailed presentations on their respective sectors.
They said Czech Businessmen are very serious in doing business in Pakistan, particularly in power sector. He said that the existing volume of trade between Pakistan and Czech Republic needs a special attention. They said that lack of information is coming in the way of bilateral trade and the Chambers of Commerce in both the countries should play role in this regard.
Speaking on the occasion, the LCCI President Irfan Qaiser Sheikh said that any Czech investment in Energy, Auto, Food Processing, Minerals, Chemicals and Transportation sectors would earn rich dividends for the country.
The LCCI President said that the government of Pakistan has devised an attractive policy for foreign investors, it allows them 100 per cent foreign equity in the major sectors and full repatriation of profits and dividends in almost all the sectors.
The LCCI President also stressed the need for developing a network to promote business relations for a sustained private sector based economic cooperation. He said that the exchange of delegations will help further promote bilateral trade relations between Pakistan and Czech Republic as these delegations enable the respective private sector representatives to have a better understanding of each other’s markets.
To supplement exchange of information and business delegations, country or sector specific weeks for the promotion of specific projects focusing on a selected field of interest like energy, agricultural, health, infrastructure and etc can be organized at major cities of Pakistan and Czech Republic to create mutual awareness.
Irfan Qaiser Sheikh said that these steps will surely lead us to exploit the untapped potential of bilateral trade between two countries which stands below US$ 50 million. Considering the international trade magnitude of Czech Republic which happens to be five to six times bigger than that of Pakistan, the current level of bilateral trade seems highly insignificant.
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