Belgian business organizations brief on trade and investment opportunities in Pakistan

February 13, 2019 (MLN): “Conditions for trade and investment in Pakistan are conducive and the policies of present government are heading towards enhancing ease of doing business in Pakistan” said Pakistan’s Ambassador to Belgium, the European Union and Luxembourg Mrs Naghmana Alamgir Hashmi while talking to participants of briefing held at the Pakistan House, in view of forthcoming 2nd edition of the largest Textile Expo in Pakistan.

The briefing dinner was attended by more than 30 representatives of various Belgian business organizations particularly those planning to go to Pakistan to participate in Texpo and also those who have already visited trade exhibitions in Pakistan, says a press release received from Brussels today.

According to the press release, Ambassador Hashmi said that there existed immense potential for enhancing trade and cooperation between the two countries through regular exchanges of business delegations from both sides.

She further said that mutual cooperation between the Trade Promotion Agencies was also needed between Pakistan and Belgium.

She also emphasized need for technology transfer and technical assistance in the wake of focus of present government on innovation and diversification in trade and investment regime of Pakistan.

Moreover, Ms. Pascale Delcomminette CEO, Wallonia Export and Foreign Investment Agency (AWEX) shared her views on her visit to Pakistan at the head of trade delegation in November 2018, which she reckoned as fruitful.

She stated that there existed immense potential for enhancing trade and investment between Pakistan and Belgium and by visiting Pakistan she has come to know about various opportunities.

The Director Flanders Investment and Trade Ms. Claire Tillekaerts, also spoke on the occasion and highlighted various opportunities for Trade and Investment between the two countries.

Economic Minister Omar Hameed and Commercial Secretary Salman Choudhry briefed the participants about the trade and economic potential between the two countries and informed that Pakistan-Belgium bilateral trade is approximately $1 Billion.

Belgium is Pakistan’s 11th largest trading partner in the world and 6th largest partner in the EU. Since 2013, bilateral trade between the two countries has increased by 38%.

Pakistan’s exports to Belgium increased by 29% and imports from Belgium increased by 45%. Pakistan’s major exports to Belgium are textiles, rice, leather, tobacco, sports good, surgical instruments and machinery parts.

Belgium’s major exports to Pakistan are pharmaceuticals, machinery, chemicals, iron, steel and plastics etc.

There exists immense potential for foreign investment in Power Sector, Oil & Gas exploration, Infrastructure, Agriculture, Textiles, Automobiles, Pharmaceuticals, Mineral and Information Technology (IT) etc.

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