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Romania and Pakistan to strengthen trade ties

YarnsandFibers News Bureau 2015-01-18 12:00:00 – Lahore

Ambassador of Romania Emilian ION speacking at the Lahore Chamber of Commerce & Industry on Saturday stated that Pakistan and Romania can enhance their cooperation in various fields. He urged the business community to evolve an effective and sector-specific strategy in collaboration with Romanian businessmen for increasing the volume of two-way trade.

He also has stressed the need for strengthening trade and economic relations between the two countries.

The fast-changing global scenario demands an enhanced economic activity and exchange of trade delegation and joint exhibitions are pre-requisite in their regard.

Because of their strategic locations, both the countries enjoy vital statuses in their respective regions. Pakistan is an important country in South Asia whereas Romania being the sixth largest country in Eastern Europe is quite an important state in its own region.

Over the years Pakistan and Romania have developed close trade and cultural relations. But there is definitely larger potential to develop more between both the countries. This definitely raises the need for strengthening of stronger bilateral relations.

LCCI Senior VP said that the two countries have prospects in different trade and investment sectors. Both the countries can be beneficial to each other in many fields. Romanian government can assist Pakistan in brand development.

The governments of both the countries should patronize the efforts of businessmen for boosting economic ties. The current volume of trade of $200 million does not reflect current potential between the two countries.

Pakistan’s exports to Romania in the year 2013 have been US $ million 22.070. Whereas Pakistan imports from Romania in the year 2013 have been US $ 76.903 million. Pakistan’s major exports to Romania are cotton, manmade staple fibers, textile articles, worn clothing, raw hides and skin, articles of leather, travel goods, footwear, etc. Pakistan’s major imports from Romania are wood and articles of wood, Machinery, nuclear reactors, organic chemicals, articles of rubber and furniture etc.

Exchange of delegation is an important tool in enhancing trade and commerce. Students, researchers and medical experts should be exchanged as well.

Romania still faces issues related to infrastructure and medical services. Pakistan’s expertise in these fields can be definitely quite helpful.

Romanian Ambassador said that exchange of trade delegation can help boost the bilateral trade between the two friendly countries.

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