Chamber-to-chamber linkages: ‘FPCCI to facilitate, investment, JVs with Rwanda’

KARACHI: Aman Paracha, Vice President FPCCI, has apprised that FPCCI has had fruitful discussions with Naeemu Ullah Khan, ambassador of Pakistan in Rwanda, vis-à-vis economic and commercial ties between Pakistan and Rwanda.

We have assured him that FPCCI will facilitate, investment, Joint Ventures (JVs) and chamber-to-chamber linkages between the two countries, he added.

Aman Paracha, Vice President FPCCI, highlighted that Pakistan imports $600 million worth of tea every year; and, there is a lot of scope to explore diversified bulk suppliers to save big on foreign exchange. Pakistan is one of the top five tea-importing countries of the world, he added.

Paracha demanded that the currently being discussed Preferential Trade Agreement (PTA) should logically lead to Free Trade Agreement (FTA) between Pakistan and Rwanda as FTA will unleash the full potential of Rwanda’s market for Pakistani exporters for textiles, leather, fruits & vegetables, rice, sports goods, surgical equipment and IT services.

Naeemu Ullah Khan, ambassador of Pakistan in Rwanda, briefed the house regarding untapped market of Rwanda for Pakistani business community; and, compared it to Singapore of Africa. Additionally, he suggested that President FPCCI may write a letter to the Plant & Protection Department of Rwanda to visit the country for the necessary approval and certification for the exporters of Rwanda; where their Pakistan counterparts can easily purchase tea in bulk on cheaper rates.

Naeem Ullah Khan proposed that Pakistani businessmen should register Pakistani products in Rwanda’s market; which will then be respected and recognized by the other neighbouring African countries as well.

The ambassador also informed that there is no visa requirement for Pakistani importers; as they just need to keep the embassy in loop. There are advance banking channels in Rwanda up to the standards of Europe and US; but, they have higher interest rate, i.e. 16-18 percent. We need to discuss and resolve the issue for LCs with the authorities, which are not accepted in Pakistani banks, he added.

The ambassador also requested President FPCCI to lead a strong business delegation to Rwanda; and, explore the market and meet with the government bodies, chambers of commerce and have B2B matchmaking meetings with importers and exporters. He also mentioned that under his tenure the bilateral trade volume has been enhanced to $80 million.

Copyright Business Recorder, 2024