Hussain Ahmed Ozgen, President, Rawalpindi Chamber of Commerce and Industry (RCCI) has stressed the need of co-operation among the developing countries in economic and industrial sectors in order to meet the challenges of post-WTO era.
He called upon the developing countries to strengthen their trade, commerce and cultural ties so that they could make them able to compete with the developing world, he said this while addressing a seminar conducted by Board of Investment (BoI) with aim to enhance trade relation between Pakistan and Vietnam.
Ozgen said that the rapidly changed world economic scenario demanded from the developing countries to concentrate to increase their industrial productivity and explore markets for their products, so that the dependency on Europe and America could be reduced.
He said, we have to use the latest technology and management techniques in order to produce cost effective products to penetrate in world markets.
RCCI chief mentioned that the investment is the key to economic growth.
And both Private and Public sector investment in economic context are equally important, he said.
RCCI president said, it is encouraging that the relations between Pakistan and Vietnam are getting stronger and added that it was the need of the hour to further strengthen the mutual ties and work hard to remove hurdle that may lie in the way.
"There are opportunities in Pakistan to invest in Tourism, Information Technology, Hydro Power Generation, Pharmaceuticals, Textile,
Agriculture and in value added fields like oil & gas, agro-industry, SME's and corporate farming", he said.
Hussain Ozgen noted that SMEs help nations to cope with the gene of unemployment, poverty and illiteracy.
"We the developing countries are facing the acute problems of the unemployment, poverty and illiteracy and it is need of hour the special interest should be given to establishment of the SMEs," he said.
He further suggested that in order to boost bilateral trade, display centres be established in both the countries, and trade delegation be formed, as it will definitely help understand the market situation of these friendly countries.
Hoang Van, Mission Leader and First Vice President, Vietnam Chamber of Commerce and Industry, Chairman BoI Waseem Haqi, VP FPCCI Sohail Altaf, and Chairman Security Exchange Commission of Pakistan Tariq Hassan also addressed the gathering.
Where as Vice President RCCI Fazal ur Rehman, were also present during the occasion.