Belgian investors and businessmen invited to invest in Pakistan’s textile and energy sectors

YarnsandFibers News Bureau 2014-12-06 11:00:00 – Karachi

Belgian investors and businessmen encouraged to visit Pakistan to explore more business opportunities. Peter Claes, Belgian Ambassador in Pakistan on Friday speaking at the Belgian Companies catalogues exhibition said that Pakistan offers immense opportunities for foreign investors.

The Karachi Chamber of Commerce and Industry (KCCI) in collaboration with the Economic and Commercial Representation Embassy of Belgium organized the exhibition to promote bilateral trade between the two countries.

President KCCI Iftikhar Ahmed Vohra urged the ambassador to invite more Belgian companies to invest in Pakistan, especially in the energy and textile sectors.

In the recent past, exports to Belgium increased slightly, but the trade is likely to improve in the future.

He said that importance of Belgium on the back of its central position and location in the European Union calls for more integrated efforts that focus on exchange of trade delegations, institutional contacts among the chambers of commerce and participations in trade fairs.

Commenting on visa policy, he said that as Belgium is a part of European Union, it has to follow certain rules and regulations. However, businessmen and industrialists from Pakistan are fully assisted and facilitated in getting visa.

Claes assured his full cooperation to the Karachi Chamber to strengthen the existing business relations between the two countries.

Trade Commissioner of Belgium Abid Hussain said that the exhibition characterizes the ever-expanding economic relations between the two countries.

Belgium is the Pakistan’s fifth largest trading partner. Belgium is a viable and trustworthy partner with solid credentials in the industrial and business world.

The trade commissioner invited Pakistan’s businessmen and industrialists to explore the possibility of investing in Belgium by setting up distribution centers or warehouses, which will enable them to access the European market more effectively. Belgium is a gateway to Germany, France, Holland and others.

During the last fiscal year, Pakistan exported goods worth $470.57 million to Belgium, while imports amounted to $427.76 million.

The trade balance remained slightly in favor of Pakistan; however, there is still a room available for further trade enhancement between the two countries.

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