PVMA chief highlights importance of trade deals with Belarus

KARACHI: Chairman of the Pakistan Vanaspati Manufacturers Association (PVMA), Sheikh Umer Rehan, welcomed the visit of Belarus President Alexander Lukashenko to Pakistan along with a high-level delegation.

He highlighted the importance of trade agreements between the two nations in key sectors such as Halal goods, agriculture, IT, and pharmaceuticals.

Speaking at an event organised to congratulate Sheikh Umer Rehan on his election as PVMA chairman, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh, UBG Patron-in-Chief S M Tanveer, and other prominent business leaders praised the visit.

They emphasised the need to strengthen bilateral trade and economic cooperation between Pakistan and Belarus.

Sheikh Umer Rehan stressed the importance of establishing a banking channel between the two countries to facilitate trade.

He also advocated for conducting trade in local currencies to reduce pressure on foreign exchange reserves and promote economic stability. Rehan further pointed out that the current trade volume between Pakistan and Belarus is minimal, and he called for the exchange of trade delegations to explore opportunities and boost commerce.

FPCCI President Atif Ikram Sheikh underscored the strong brotherly relations between Pakistan and Belarus and welcomed agreements in IT, defense, environmental collaboration, and pharmaceuticals.

He praised Sheikh Umer Rehan’s contributions to Pakistan’s ghee and cooking oil industry, assuring his full cooperation in strengthening ties with Belarus.

UBG Patron-in-Chief S M Tanveer highlighted that the Belarusian president’s visit, accompanied by ministers, would create significant trade opportunities.

He urged the government to facilitate Pakistani investors and industrialists in exploring business prospects in Belarus while offering incentives to Belarusian investors for investing in Pakistan. Such measures, he added, could increase foreign direct investment in the country.

Prominent business figures including Sheikh Basit Ikram, Nasir Saleem, Amin Dada, Ahmed Ghulam Hussain, Mian Naveed Ahmed, Kashif Razak, Bilal Mushtaq, Anjum Rehmat, and Arshad Hai also attended the event, warmly welcoming the Belarusian delegation and expressing optimism for stronger trade relations.

Sheikh Umer Rehan commended the efforts of Atif Ikram Sheikh and S M Tanveer in addressing the challenges faced by Pakistan’s business community. He also reiterated his commitment to fostering economic ties with Belarus for mutual benefit.

The event concluded with a strong consensus among the business leaders to capitalise on the opportunities presented by the Belarusian delegation’s visit, aiming for long-term economic collaboration between the two nations.

Copyright Business Recorder, 2024