Spain looking to boost bilateral trade ties with Pakistan

Spain intends to boost bilateral ties with Pakistan, in this regard Spainish Ambassador in Pakistan Javier Carbajosa Sanchez had a meeting with Minister of State and Board of Investment (BOI) Chairman Dr Miftah Ismail to discuss and explore investment opportunities.

Sanchez said that to enhance bilateral ties it would settle issues of bilateral investment treaties and memoranda of understanding with Pakistan. Showing interest particularly in Pakistan’s wind, solar energy and tourism sectors as the country is facing immense energy crisis., he said that the

Spanish investors in Pakistan were interested in high level sophisticated machinery and equipment for the textile sector.

On the occasion, the BoI chairman said that Spanish companies may well explore the possibility of establishing Spanish-specific special economic zone in Pakistan. For this, the BOI plans to extend an invitation to Spanish businessmen to visit and explore opportunities in Pakistan.

Although both the countries are enjoying good political relations with each other but it is need of the hour to promote bilateral trade as well. As Pakistan is still a very new market for Spain and most of the investors only get the right impression after visiting the country themselves.

As per a report, in 2012 Spain’s imports from Pakistan were around US$150 million and exports around US$300 million. The trade volume between Pakistan and Spain will be enhanced and every possible step will be taken in this regard.