Chairman FPCCI calls for economic, trade relation with Sweden

ISLAMABAD: Federation of Pakistan Chambers and Commerce and Industry (FPCCI) Chairman Qurban Ali on Wednesday urged for increasing the bilateral economic and trade relation between Pakistan and Sweden and also to increase the business to business connectivity among the business communities of the two sides.

The Chairman FPCCI also invited Swedish investors to join the grand mega project of China Pakistan Economic Corridor (CPEC) and CPEC related Special Economic Zones (SEZs) in different regions of the country.

He was presiding over a meeting with the Ambassador of Sweden to Pakistan Henrik Persson along with senior business leaders including Coordinator Capital House, FPCCI Mirza Abdur Reham and others here in FPCCI Capital Office.

Quran Ali also proposed the Ambassador to bring investment in the potential areas of Hydal Power, Tourism, Mines minerals, Transport and Housing sector to enhance the cooperation between both of the countries.

The business leader said that CPEC related Gilgit Baltistan (GB) Special economic Zone (SEZ) and others would increase the business and industrial cooperation between the business sector of Sweden and Pakistan.

He said that Swedish investors and businessmen can invest and start Joint Ventures with local industrialists in Gilgit Baltistan, SEZ in value addition on agriculture, livestock, mines and minerals and milk products.

He said that the GB region is a gateway for CPEC to provide opportunities to the Swedish business people to connect with China as well as regional countries including Central Asian Republics (CARs) to get benefits from their economies.

While he said that in Gilgit Baltistan, there is huge potential of hydro power, which also supports any foreign investor for available cheap energy to the industrial sector and provides secure business opportunity.

Qurban Ali also said that GB region has a huge potential of tourism and livestock as the region owns the 8 biggest mountains of the world including any raw material for the Industrial sector and agro- industries.

He said that Pakistan is now an emerging economy, including the grand project of CPEC would not only provide economic and trade integration to the South and Central Asian region but also connect the future engine of the growth Asian Countries with potential markets of European Union and other trade routes of the world.

He said that deep sea port Gwadar also offers a huge opportunity to the whole world including the EU countries and Scandinavian region to connect with the whole region through this port to achieve their economic and trade targets.

Meanwhile the Swedish side also agreed to start investment and business cooperation in these areas and showed interest cooperation in hydel power, tourism, mines and minerals, housing sector, telecom sector, information technology, renewable energy, education, academia, business development and environmental protection to investment in these potential sectors.

While sharing his views, Ambassador of Sweden to Pakistan Henrik Persson said that Pakistan and Sweden have history of diplomatic, economic and trade ties and also similarities in different areas Cooperation.

The Ambassador said that Sweden and Pakistan have completed the 16 rounds of economic and trade consultation and enhance cooperation with regional countries through Pakistan.

He said the two sides have discussed the entire range of bilateral relations, including political, economic, trade, investment and education.

“We offered cooperation in investment friendly policies of the government and highlighted opportunities in the information technology, enhancing water and waste management, tourism and hospitality sectors and hoped that Swedish companies would take advantage by investing in these sectors, he said.

The Swedish envoy agreed on the proposal presented by the senior leadership of the FPCCI and said “We are committed to enhance the cooperation between the business community of the both sides for increasing economic and trade ties”.

The Ambassador also appreciated the improved ranking of Pakistan in World Bank, Ease of Doing Business (EODB) and said that “we would benefits from this opportunity.”

In future Business communities of the both sides would get more opportunity to connect and start bilateral negotiation on trade and investment, he said.

While the senior business leader and Coordinator FPCCI capital office, Mirza Abdul Rehaman briefs the Ambassador about the working and structure of the FPCCI.

Former Vice President FPCCI Muhammad Ali Quaid, President Hunza CCI Mehboob Rabani, President ICSTSI Malik Zaheer, President Mandi Mandi Bahauddin CCI Haider Raza Naqvi, Vice President Mian Zahid Patiala EC Member FPCCI Hassan Abbas were also present in the meeting.