KARACHI: Irfan Iqbal Sheikh, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has expressed his profound satisfaction, as the country’s apex trade & industry body, that one of the most prominent former presidents of FPCCI, Mian Anjum Nisar, has been elected to the highest trade body of the SAARC, i.e., SAARC Chamber of Commerce & Industry (SCCI) as its Vice President for a period of two years.
It is a good omen for the economy of Pakistan in general and trade with the SAARC countries in particular, he added.
He stressed that SAARC region had significant economies vis-à-vis Pakistan, Bangladesh, Sri Lanka, India, Bhutan, Nepal, Maldives and Afghanistan and the bloc accounts for 21 percent of world’s population. Only fully tapping into the export potential of this single trade bloc can result into $20–25 billion worth of exports boost in a short-span of 5 years.
Irfan Iqbal Sheikh apprised that Mian Anjum Nisar is one of the senior most, well-respected and accomplished trade leader of Pakistan, and, he has it all what takes to secure favourable arrangements for the country’s exports – both as a trading bloc and bilaterally with the member countries of SAARC.
It is pertinent to note that Mian Anjum Nisar has been active in policy advocacy at the highest level for the past 25 years on a national & international level, he added.
FPCCI Chief explained that SAARC CCI assumes particular importance in Pakistan’s case as Pakistan’s regional trade is only 9 percent of its total trade; however, on the other hand, developed countries have up to 70 percent of their total trade regionally – as the regional trade makes a country’s exports competitive.
Sheikh also highlighted the fact that one of former vice presidents of FPCCI, Khurram Tariq Sayeed, has been elected as the vice president of Confederation of Asia-Pacific Chambers of Commerce & Industry (CACCI) recently after a hiatus of 8 long years. Above two developments underscore the success of FPCCI on significant international forums; and, it is, in fact, the success of the entire business, industry and trade community of Pakistan.
Furthermore, CACCI represents 25 countries; 30 percent of world’s GDP and one-billion strong middle & working-class having the purchasing power to buy Pakistani cost-competitive yet world-class textile, leather, sports and food products.
Irfan Iqbal Sheikh categorically stated that the government of Pakistan must support these Pakistani-origin vice presidents of SCCI & CACCI to enable them in securing market access for Pakistani products in these important regional blocs.
Copyright Business Recorder, 2023
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