KARACHI: The global economic, environmental and financial changes have caused lower trade volume between Pakistan and Czech Republic, said Deputy Minister for Foreign Affairs of Czech Republic, Ivan Jancarek here.
The Czech Minister stated this while speaking at a meeting with members of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), at the Federation House, said a FPCCI statement on Wednesday.
The Deputy Minister was accompanied by the Czech Ambassador and Honorary Consul General of Czech Republic to Karachi. Ivan Jancarek said that the volume of bilateral trade was below the potential of the both countries and had declined to 150 million dollars in 2016-17 from the previous year's volume of 217 million dollars.
Pakistan export to Czech Republic was 92 million dollars and imports from Czech Republic was 57 million dollars.
He informed that the Czech Republic would sign an agreement with Pakistan on trade cooperation and foreign affairs to strengthen economic ties between the two countries.
He said that Pakistan, having 208 million population, had great attraction for foreign investors particularly in the back drop of China-Pakistan Economic Corridor (CPEC).
He said that Czech Export Bank could offer its services and cooperation in establishing various joint ventures.
He also highlighted the cultural and tourism heritage of his country.
FPCCI Vice President Tariq Haleem, in his welcoming remarks, introduced the FPCCI, the apex trade body of the country, which was working for promotion of trade and industry along with welfare of the business community.
He emphasized the need for frequent exchange of delegations, mutual participation in trade fairs as well as holding of Joint Business Council meetings between National Chambers of both the countries.
Such interaction would contribute to enhancement of bilateral trade and economic relations.
He noted that Czech Republic had a great capability of manufacturing of machinery and Pakistan should benefit from their expertise.
The participants of the meeting also discussed visa related issues, operation of direct flights, hotel and motel for tourism and joint venture and academic relationship with universities.
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