LAHORE: Lahore Chamber of Commerce and Industry on Wednesday called for a whole new methodology to increase Pakistan's exports to Kuwait that has a huge potential for Pakistani products.
Chamber's President Farooq Iftikhar stated this talking to Ambassador-designate to Kuwait Syed Abrar Hussain at the LCCI building.
While assuring his full support to the ambassador, he said Kuawit had a marvelous potential for Hilal Food products and a little attention towards this particular sector could give a quantum jump to Pakistan's exports.
Pakistan's exports to all the Muslim countries, he added, were very small as compared to their respective potential and Pakistani missions in these countries would have to go extra mile to enhance bilateral trade relations.
The president also urged the ambassador to play his role proactively for the dissemination of trade related information as a lot many business opportunities go out of hand because they often could not reach the right hands.
The exchange of trade delegations was a proven and important tool to strengthen bilateral relations, therefore, the Embassy in Kuwait should convince Kuwaiti businessmen for a visit to Pakistan, he maintained.
He said that energy shortage in Pakistan was a huge opportunity for the Kuwaiti businessmen and they could initiate joint ventures with their counterparts in solar energy sector for benefit of the people of two countries.
He said, coal mines in Punjab were an attractive area as energy deficit could be combated by producing electricity with coal thus providing a vast ground for Kuwaiti investors.
The export of Rice was another sector which was not fully exploited, he said, asserting that Pakistan could earn far more than present by exporting rice to Kuwait and decrease the deficit of its oil bill.
He suggested that joint ministerial commissions should be arranged more frequently.
He said that Pakistan had expertise in the textile sector and a fair share of trade in exporting textiles to Europe and USA, however, the exports in this sector needed to be enhanced.
He said that Kuwaiti investment in the country could reap lucrative results for the economy of Pakistan and it could create employments and hence add to the GDP.
While, the Ambassador-designate to Kuwait Syed Abrar Hussain said that Pakistani businessmen would have to look into the quality issues that matter the most while dealing with international buyers.
He said that he would be putting his best efforts to bring the two countries further close in terms of economic relations although a number of forums at government-to-government level were already working in this regard.
He said that he would further strengthen its relations with Chambers of commerce in Pakistan as he considered them as main stakeholder as far as Pakistan's exports were concerned.
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