Pakistan-Switzerland ties: need stressed to narrow down current trade imbalance

Pakistan and Switzerland enjoy close cordial and friendly relations and with the passage of time these relations are strengthening day by day. Despite excellent friendly relations trade is below its potential and there is need of serious efforts like exchange of trade delegations, single country exhibitions in Switzerland, interaction between Swiss Chamber, Business Council and Karachi Chamber to further strengthen trade ties.
This was stated by Talat Mahmood, Senior Vice President Karachi Chamber of Commerce and Industry (KCCI) on the occasion of dinner hosted in honour of Didier Boschung, the outgoing Consul General of Switzerland in Karachi.
He further said Swiss investment and technical support is vital for Pakistan 's economy. Pakistan is a frontline ally and rendered enormous sacrifice in war against terrorism and we need "TRADE NOT AID" to boost our economy. Anjum Nisar Vice Chairman BMG group said besides textile, Pakistan has potential to export sport goods and dairy product to Switzerland. Boschung said he is fully aware of the importance attached to Karachi chamber due to its vast representation of business community.
He said according to the latest Global Competitiveness Report published by World Economic Forum, Switzerland ranks first among 139 countries and also is the 15th biggest exporter of the world. Its SME sector comprises 99% of industry and provides 67% of all jobs. He said to boost their exports, Pakistani business community should participate in exhibitions being held in Switzerland. Switzerland is world's fourth largest direct investor in foreign economy and is also 5th largest investor in Pakistan.
Majyd Aziz ex-president KCCI said to get access to European market more co-ordinated efforts should be made under ECO umbrella with consolidating each member country's strengths in a way that maximum benefits could be availed to boost their exports. Asif Nisar Member MC KCCI said stressed more efforts to boost Pakistani exports to Switzerland to narrow down the current trade imbalance.-PR