KARACHI: President of the Federation of Pakistan Chambers of Commerce and Industry Irfan Iqbal Sheikh has stressed that bilateral trade deficit with any country should be addressed through enhanced business-to-business and chamber-to-chamber ties, and that FPCCI is the right platform to get things rolling in this regard.
Speaking at a meeting of the Pakistan-Morocco Business Council of FPCCI, he noted with concern that bilateral trade deficit with Morocco has reached close to $300 million, which is a big amount when assessed in relation to the total bilateral trade of about $350 million.
There are so many products and commodities that Pakistan can export to Morocco, such as value-added textile products, fruits and vegetables, surgical goods, pharmaceuticals, IT services, sports goods and minerals.
Senior Vice President of the FPCCI Suleman Chawla called upon the council to play a proactive role this year and ensure that the two countries exchange B2B delegations to explore the avenues for cooperation, trade and joint ventures.
Chairman of the council Yahya Chawla explained that Morocco has the potential to be a major export market for Pakistan, but the government needs to carry out a thorough assessment of needs, coupled with awareness in the community of businessmen, industrialists and traders.
Senior Vice Chairman of the Council Sultan Rehman called upon Pakistan’s Ambassador to Morocco, Hamid Asghar Khan, to facilitate the Pakistani business community in creating linkages with their counterparts in Morocco, specifically with the Morocco Chamber of Commerce and Industry.
Copyright Business Recorder, 2022