LCCI stresses need to increase exports

LAHORE: Pakistan needs to exploit all the avenues to boost its exports and the role of foreign diplomats has always been of prime importance in this regard. The diplomats can pave way for foreign investments by portraying the economic potentials of any country to the outer world.

LCCI President Shahid Hassan Sheikh expressed these views while addressing a 36-member delegation of foreign trainee diplomats here at Lahore Chamber of Commerce and Industry on Tuesday. LCCI Senior Vice President Yaqoob Tahir Izhar, and Vice President Mubasher Sheikh also spoke on the occasion.

Trainee diplomats from Botswana, Congo, Gambia, Guinea-Bissau, Kenya, Lesotho, Liberia, Libya, Niger, South Africa, Malaysia, Brunei, Maldives, Yemen, Iraq, Tajikistan, Turkmenistan, Uzbekistan and Kyrgyzstan asked a number of questions ranging from Pakistan's economy to Chambers to Chambers relations.

LCCI President Shahid Hassan Sheikh said that there is a dire need to identify tradable items, which leave a lot of room for product/market diversification. The basics for such exercises stem in the exchange of information between the diplomatic missions and the chambers. He said that Pakistani products such as textiles, rice, leather products, sports goods, carpets, fruits & vegetables are available abundance. The Afro-Asian countries should consider Pakistani products, their quality and prices before placing demand for the import of these products with other countries.

The LCCI President was of the view that Africa remains an unexplored territory from Pakistan's standpoint as 3.88 percent of Pakistan's international trade is taking place with Africa. Tea remains to be the major items of Pakistan's import from Africa besides copper, leather, chemicals and aluminum. Likewise cotton and textile products, pharmaceuticals, surgical instruments and sports goods are the major items of export from Pakistan to Africa.

He said that Pakistan has a little trade with Central Asian Republics. It was only $48.1 million in 2005. There is a need to forge unity and make ECO an effective organization like European Union and ASEAN.

Source: Daily Times