A 22-member delegation of the Taiwan External Trade Development Council (TAITRA) on Tuesday visited the Lahore Chamber of Commerce and Industry and expressed its interest in enhancing investment in Pakistan.
Speaking at a meeting with the LCCI office-bearers and executive committee members, delegation leader Yu-Jen Huang said that B2B contacts and dissemination of trade and investment related information can be helpful in promoting investment in Pakistan.
The delegation leader said the international media is portraying a negative picture of Pakistan but the reality they found it otherwise. Pakistan is a peaceful country and best place for business, he said. Taiwan is the world's 19th largest outbound investor and the 8th largest in Southeast Asia. He said that Taiwan is advanced in technologies, auto parts, machinery, food processing and functional textiles.
He informed the LCCI office-bearers that TAITRA was founded in 1970 to help promote foreign trade. It is a non-profit trade promotion organization in Taiwan which is jointly sponsored by the government, industry associations and several commercial organizations, he said.
TAITRA assists Taiwan businesses and manufacturers with reinforcing their international competitiveness and in coping with the challenges they face in foreign markets, he said, and added that tremendous business opportunities can be found in Taiwan's dynamic economy. Taiwan's strategic location, infrastructure and capital make the island and ideal springboard for business operations throughout Asia and the Pacific Rim, he asserted.
Speaking on the occasion, LCCI President Almas Hyder said the trading houses are strength of Taiwan and they should think over enhancing trade & economic ties with Pakistan which has a lot to offer in various sectors of economy. He acknowledged that swift economic development of Taiwan is impressive.
He said that Pakistan is a huge market of over 210 million people that is 10 times bigger than Taiwan. There is a huge consumption of all products in Pakistan, therefore Taiwan should avail this opportunity. Taiwan can import textile and various other products from Pakistan comparatively at low rates, he added.
"Taiwan must look to other countries like Pakistan for trade and investment," he said and added that "we are ready for business today." Pakistan is endowed with sufficient raw materials, low-cost and trained labour force, easy access for marketing to third country destinations like Central Asian Republics and Gulf States, he added.