Spain offers cooperation in various fields of economy

ISLAMABAD: Ambassador of Spain to Pakistan Javier M. Carbajosa Sanchez Tuesday said that Pakistan and Spain can join hands in various fields of economy including textiles, banking, transportation, construction and dairy products.

Speaking to business community at Islamabad Chamber of Commerce and Industry (ICCI), the Ambassador said that political relations between the two countries were good, however, trade relations needed to be further enhanced.

He noted that many Eurozone countries were facing economic slowdown, but Spain is reviving its economy on fast-pace.

He informed the businessmen that Spain was world-leader in renewable energy as it produces 25 percent energy from renewable sources which is highest in Europe.

"Cooperation could be materialized in the areas of textiles, banking, transportation, construction and dairy products as Pakistan is the 4th largest producer of milk," he added.

Speaking on the occasion, Zafar Bakhtawari, President ICCI said that both countries have common cultural heritage because Islam has more than 700 year history in Spain.

He urged the Ambassador to invite Spanish investors to invest in renewable energy solutions as Spain is one of the world's leading countries in the development and production of Renewable Energy.

Bakhtawari said that Spain has great importance for Pakistan as around 0.1 million Pakistanis were working there and contributing in the development of Spanish economy as well as giving blood to the Pakistan economy in form of remittances.

ICCI President was of the view that increased number of parliamentary exchanges could create better understanding between Pakistan and Spain.

He said that joint cultural shows and frequent exchange of business delegations are the options which can bring people of both countries closer to each other that would eventually enhance the mutual cooperation between Pakistan and Spain.

He said that Spain is the 4th largest trading partner of Pakistan in Europe and current trade volume between Pakistan and Spain was stood around 800 million Euros which would be further enhanced by tapping true trade potential between both countries.