SBC, LCCI join hands to promote bilateral trade

RECORDER REPORT

LAHORE: The Swiss Business Council (SBC) would work hand in hand with the Lahore Chamber of Commerce and Industry (LCCI) for the promotion of bilateral trade and economic relations between Pakistan and Switzerland.

The President SBC, Dr. Ahmad Fraz while heading an 11-member delegation stated this while speaking at the LCCI on Tuesday.

Members of the delegation included; Vice President Swiss Mujtaba Rahim, Secretary General, Yasmin Peermohamed, Directors Arshad Saeed Husain, Syed F. Mazhar, Khatri Muhammed Iqbal, Farhat Ali, Member SBC, Syed Hassan Nasim Ahmed, ex-Office member SBC, Aslam Pervez and Manager SBC, Fletcher P. Albert.

The President SBC said that the very objective of the Council is to develop, facilitate and monitor the trade and business relationship between Pakistan and Switzerland. Its primary intent is to bridge business to business relations between both countries, whilst encouraging links and cooperation in political, economic, cultural and educational fields.

Dr. Ahmad Fraz said that the joint venture is an area where both the sides should focus on for exploring the new avenues of cooperation between the two countries that could learn a lot from each other.

He said that the Switzerland is the fourth largest investor in Pakistan and its businessmen are more than willing to put their money in new ventures in Pakistan provided they are guaranteed an enabling business atmosphere.

Speaking on the occasion, the LCCI Senior Vice President, Kashif Younis Meher said that falling trend in Foreign Direct Investment in Pakistan calls for a greater role to be played by the SBC while the Lahore Chamber for being the representatives of business community, is ready to perform its due role in supporting any such initiative.

He said that despite the fact that some Swiss companies are operating in the sectors like energy, banking, chemicals, pharmaceuticals, agriculture solutions, food, telecommunication, quality testing, machinery, construction material and etc., but the LCCI is desirous of seeing more and more Swiss enterprises to take over Pakistan market which has a lot to offer to foreign investors.

The LCCI Senior Vice President said trade pattern between two countries calls for some concerted efforts as our total trade is consistently falling down. In 2008, the volume of bilateral trade was US $433 million which slipped to US $377 million and US $353 million in years 2009 and 2010 respectively. He said that the country has witnessed downward trend both in imports from Switzerland and exports to Switzerland. Although the balance of trade heavily favours Switzerland but there is need to make quantum increase in Pakistani exports and it can be done by increasing the interaction between the business communities of two countries.