Pakistani exporters should explore the non-traditional and virgin markets of Latin America to give a quantum jump to its exports, said Gustavo Miranda Augustor Valenzuela, Charge d'Affaires of Embassy of Paraguay. He was addressing the members of Faisalabad Chamber of Commerce and Industry (FCCI) during his maiden visit to Faisalabad here on Tuesday.
He said that it was his third visit to Pakistan but he is coming to Faisalabad for the first time with an objective to develop trade links and bridge gap between the business communities of two countries. Faisalabad is the hub of textile industry and he will encourage local industrialists to set up their units in Paraguay to sneak into the Latin American markets.
He termed this visit as a first step towards enhancing bilateral trade of the two countries and said that it would also have a salutary impact on the economies of the two countries. A documentary on Paraguay was also presented while Kanwar Tariq, Honorary Consul General, Paraguay also addressed the members. He said that focus of Pakistan's exports henceforth remained on the markets of USA, Europe and Arab countries. He said that Pakistan must explore the possibility of entering into the non-traditional markets which have vast untapped opportunities for them.
Continuing, he said that Paraguay has surplus and cheap hydel electricity in addition to cheap labour and good quality of cotton which could help Pakistani investors to establish their textile units in that country by exploiting their entrepreneurship and professional skills. These textile units will not only cater to the needs of the Paraguay but also provide them an opportunity to cover all the countries of Latin America.
Quoting an example, he said that a firm from Sialkot was facilitated to set up a football manufacturing unit in Paraguay which has proved a very successful and now it is doing well in that country. He requested to the President Engr Rizwan Ashraf to form a trade delegation to visit and explore the huge opportunities available in that country in addition to establish direct contacts with the businessmen of Paraguay.
He said that India is currently doing well in that region but due to certain restriction on Pakistan, Pak trade is dwindling at $32.53 million. He said that he has close contact with foreign office of Pakistan which is also trying its best to increase the trade between the two countries. He assured to facilitate FCCI and Paraguay Chambers of Commerce for signing of an MoU. Responding to a question, Gustavo said that a trade delegation from Paraguay will also visit Pakistan very soon and it would also visit Faisalabad for negotiation with the businessmen linked with the textile industry.
Earlier in his address Engr Rizwan Ashraf, President FCCI welcomed the Ambassador, his spouse and Kanwar M Tariq, and said that Pakistan is strategically located to provide direct access to a population of 3 billion sprawling in this part of the world. He said that Faisalabad is also located in the heart of Pakistan and provides connectivity with every part of the country. He said that out of total textile exports of about $13 billion, Faisalabad is contributing to the extent of $6 billion. He said that FCCI has 5,000 members within its fold who belong to all sectors of trade, industry and services. He said that due to the lucrative opportunities prevalent in Pakistan, China has signed MoU to invest US $46 billion out of which 34 billion will be spent on energy related projects while six billion on infrastructure and other six billion dollars on the development of Gwadar Sea Port. He said that this huge investment is manifestation of the trust of the international community in the fast improving economy of Pakistan. He said that Pakistan has huge potential to produce 100,000MW of electricity from its available hydel resources. The companies working in Pakistan have also been allowed for full repatriation of their profit which is as high as 27 percent.
During question-answer session Mian Farhan Latif, Dr Habib Aslam Gaba, Chaudhary Muhammad Asghar and Mian Muhammad Rafi raised interesting questions. Former president FCCI Khalid Habib Sheikh presented a shield to Gustavo Miranda Augustor Valenzuela while Engineer Rizwan Ashraf also pinned him a badge as a token of presenting him honorary membership of the chamber. Senior vice president Nadeem Allahwala also fixed a pin to Kanwar Tariq, Honorary Consul General of Paraguay. Gustavo Miranda Augustor Valenzuela also presented a memento to President FCCI Engineer Rizwan Ashraf while vice president Inaam Afzal Khan thanked the guests and participants of the meeting.
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