Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) president Shah Faisal Afridi has said that Pakistan and Singapore need to exchange frequent trade delegations to explore the huge trade potential between the countries.
He was talking to a trade and investment delegation from Singapore. Chairman of Middle East Business Group and Vice Chairman of South Asia Business Group Shamsher Zaman was leading the delegation comprising prominent businessmen and representatives of leading enterprises. PCJCCI former chief S M Naveed was also present on the occasion.
Shah Faisal Afridi said the trade balance between the two countries is in favour of Singapore as Pakistan's exports stands at $68 million against its imports of $865 million. Despite cherishing bilateral relations from a decade between the two sides, the volume of two-way trade volume of $933 million in 2018 is not up to the actual potential, he said and stressed the need for exchange of frequent delegations between the two countries.
Naveed said Pakistan for being the hub of agriculture can offers best fruits and vegetables to Singapore. Moreover, Pakistan is blessed with good quality of mines and minerals and agri-products besides its strategic location he said and invited the Singaporean businessmen to invest in Pakistan in the areas of energy, infrastructure, healthcare, education, consumer goods, professional services.
Speaking on this occasion, Shamsher Zaman said that Pakistan was one of the first countries to recognize Singapore soon after its independence in 1965. Singaporean expertise and experience in urban planning and ports and shipping can be beneficial for Pakistan in construction of 5 million low cost houses in the next five years and development of shipping sector, he said. PCJCCI chief said the China-Pakistan Economic Corridor (CPEC) offers huge opportunities of investment. Besides, B2B meetings were also arranged on the occasion.