KARACHI: Atif Ikram Sheikh, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), President ECO-CCI and VP CACCI, has apprised that the FPCCI has hosted a high-profile trade and industry delegation of 45 members of different sectors from the Association of Southeast Asian Nations (ASEAN).
Atif Ikram Sheikh explained that the ASEAN comprises an alliance of Indonesia, Malaysia, Thailand, Cambodia, Laos, Singapore, Myanmar, the Philippines, Vietnam and Brunei; and has a combined GDP of $3.6 trillion. This makes ASEAN as the 5th largest economy and export market of the world, he added.
Saquib Fayyaz Magoon, SVP FPCCI, informed that the ASEAN delegation comprised prominent businessmen from various sectors; textiles, apparel, agriculture, fisheries, food, beverages, carpets, footwear, construction, insurance, information technology, oil, handicrafts, jewellery, cosmetics, perfumes, healthcare, renewable energy, pharmaceuticals, coffee beans, green coffee, electronics, fruits and spices aiming to strengthen trade relations and explore business opportunities between Pakistan and ASEAN countries.
Saquib Fayyaz Magoon noted that trade relations between Pakistan and ASEAN countries are below potential. He highlighted Pakistan's Free Trade Agreement (FTA) with Malaysia and Preferential Trade Agreement (PTA) with Indonesia.
SVP FPCCI also mentioned ongoing negotiations for an FTA with Thailand and PTA with Vietnam stressing the fact that Pakistan’s cumulative trade deficit with ASEAN countries stands at $11 billion and needs to be addressed.
It is pertinent to note that Faiz Ahmad, Chief Executive of Trade Development Authority of Pakistan (TDAP), graced the occasion and Goh Boon Kim led the ASEAN delegation which had representation from 10 countries considered important for the growth of Pakistani exports. Honourable Consul Generals of Indonesia, Malaysia and Thailand also attended the high-profile session.
The meeting was followed by a special B2B session; providing a platform for Pakistani businessmen to engage with their ASEAN counterparts and explore potential business opportunities; untapped export avenues; attract investments and potential JVs.
Abdul Mohamin Khan, Regional Chairman & VP FPCCI, explained that the relations between Pakistan and ASEAN are multidimensional and have grown significantly over the years due to mutual trust, cooperation and cultural linkages. He expressed his satisfaction that major stakeholders and business leaders joined the B2B session with the ASEAN delegation.
Asif Inam, VP FPCCI & former Chairman APTMA, emphasized upon incentives to invest in Pakistan; country’s abundant workforce and strategic location – making it an ideal hub for ASEAN investors to establish manufacturing units for marketing products in the Middle -east; Central Asia and Western China.
Copyright Business Recorder, 2025
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