Pakistan exporters to explore huge untapped opportunities of Latin American market

Gustavo Miranda Augustor Valenzuela, Charge d’Affaires of Embassy of Paraguay during his third visit to Pakistan and maiden visit to Faisalabad on Tuesday while addressing the members of Faisalabad Chamber of Commerce and Industry (FCCI) advised the Pakistani exporters to explore non traditional and virgin markets of Latin American to give a quantum jump to its exports.

He termed this visit as a first step towards enhancing bilateral trade of the two countries and said that it would also have a salutary impact on the economies of the two countries. A documentary on Paraguay was also presented.

The objective of his visit is to develop trade links and bridge gap between the business communities of two countries. Faisalabad is the hub of textile industry and he will encourage local industrialists to set up their units in Paraguay to make move into the Latin American markets.

He said that focus of Pakistan’s exports has remained on the markets of USA, Europe and Arab countries. They must explore the possibility of entering into the non-traditional markets which have vast untapped opportunities for them.

Paraguay has surplus and cheap hydel electricity in addition to cheap labour and good quality of cotton which could help Pakistani investors to establish their textile units in that country by exploiting their entrepreneurship and professional skills. These textile units will not only cater to the needs of the Paraguay but also provide them an opportunity to cover all the countries of Latin America.

He urged President Engr Rizwan Ashraf to form a trade delegation to visit and explore the huge opportunities available in that country in addition to establish direct contacts with the businessmen of Paraguay.

India is currently doing well in that region but due to certain restriction on Pakistan, Pak trade is dwindling at $32.53 million. He said that he has close contact with foreign office of Pakistan which is also trying its best to increase the trade between the two countries. He assured to facilitate FCCI and Paraguay Chambers of Commerce for signing of an MoU.

Gustavo said that a trade delegation from Paraguay will also visit Pakistan very soon and it would also visit Faisalabad for negotiation with the businessmen linked with the textile industry.