Norway largest European investor in Pakistan

KARACHI: At $2 billion of investment Norway is one of the largest European investors in Pakistan's economy, said Ambassador of Norway Robert Kvile, during his visit to the Federation of Pakistan Chamber of Commerce & Industry (FPCCI) in Karachi on Tuesday.

He held talks with Dawood Usman Jakhura, Usman Sheikh and Khalid Tawab, Vice Presidents FPCCI, and Shaikh Humayun Sayeed, former Vice President FPCCI & Chairman FPCCI Standing Committee on trade delegations.

Jakhura said most of Pakistan's trade with European states was being carried out with theEuropean Union (EU), and therefore trade with Norway remained unsatisfactorily low.

Kvile urged the business community to step up efforts for a positive image building of Pakistan.

He said foreign investors are deterred by the security situation and complicated regulatory requirements in Pakistan.

These concerns should be addressed urgently to draw greater foreign investment to Pakistan, he said.

He said the presence of 35,000 Pakistanis as Norway's largest non-European immigrant community was a resource for both countries and should be utilized effectively.

Sayeed assured Kvile his concerns on security situation and problems in legal framework faced by foreign investors will be forwarded by FPCCI to the relevant authorities.

He called for more frequent exchange of trade delegations between the two countries to enhance trade and hoped Norwegian firms would participate in the upcoming exhibitions being held in the European Economic Area (EEA) countries in the near future.

It was also agreed that Pakistan would soon hold a major trade event in collaboration with Oslo Chamber and Norwegian businesses in Norway.

Copyright PPI (Pakistan Press International), 2011