Bangladesh to support on GSP Plus status: LCCI

LAHORE: Lahore Chamber of Commerce & Industry on Tuesday urged Bangladesh to withdraw objections and support Pakistan in getting European Union's GSP Plus status.

This was demanded by the LCCI Acting President Kashif Younis Meher while talking to Bangladesh High Commissioner in Pakistan Suhrab Hossain here at the Lahore Chamber of Commerce & Industry on Tuesday.

The Chamber's VP Saeeda Nazar and SAARC Chamber of Commerce & Industry's Vice President Iftikhar Ali Malik also spoke on the occasion. While, Honorary Consul Humayun Fareed, LCCI EC members Husnain Reza Mirza, Ghulam Murtaza Shaukat and Nabila Intisar were also present.

Kashif Meher said that objections raised by our brotherly country Bangladesh on GSP Plus Status to Pakistan by the EU are unexpected as Pakistan has always supported Bangladesh on all occasions.

He said that market research should be conducted regarding their range of products and priority should be given to each other for import of goods rather than buying from distant countries. Frequent shipping arrangements between the two countries could ensure uninterrupted flow of goods between Pakistan and Bangladesh, he said and added that single country exhibitions and exchange of trade delegations always play an important role for the promotion of trade.

He said that business community of the both countries could also initiate joint ventures in the sectors of ready-made garments, agro-based projects, light engineering, sugar, cement, fertilizers, chemicals, electronics, home appliances, cotton and jute textiles and higher education, besides sharing experiences in Small and Medium Enterprises development.

He said that incentives offered to the foreign investors in Pakistan were not only unprecedented but also made it the right place for investment, in comparison with other countries of the region.

Foreign investors seeking new avenues and markets were welcome to come forward and invest in Pakistan. These markets include Central Asian Republics and Gulf States, he added

On this occasion, Bangladesh High Commissioner Suhrab Hossain said that Bangladesh had a very vast potential in various economic areas particularly in the sectors of rice and jute, therefore, Pakistani businessmen should come forward and initiate joint ventures to explore this potential.

The High Commissioner said that Pakistan and Bangladesh were two brotherly Islamic countries and should take maximum steps to strengthen relations in all fields. He stressed for intensive market research, single country exhibitions on reciprocal basis, frequent visits of trade delegations, exchange of socio-cultural programmes and close contact between trade bodies of the two countries.

He said that Pakistani goods were in great demand in Bangladesh, so Pakistani business community should join hands with the counterparts to avail available business opportunities. He said that Pakistan could learn a lot in textile sector as Bangladesh had made an impressive progress in this field.

Though trade between the two countries were growing progressively, both countries should take more concrete efforts to enhance the trade ties, he maintained.

He said that at a time when regional economic blocs like EU,NAFTA,EFTA etc.,had started playing effective role in the international trade the world over, Pakistan and Bangladesh should also strengthen their regional economic cooperation. He said that SAARC and OIC had so far remained inactive due to absence of co-ordination among its members.

He said SAARC nations are home to 21 percent of the world's population but account for only two percent of the world GNP and share only 1.3 percent in the world's total exports, one percent each of global FDI inflows and global tourism receipts.

Copyright APP (Associated Press of Pakistan), 2011