Lahore Chamber of Commerce and Industry (LCCI) President Malik Tahir Javaid has said that potential to export goods Thailand from Pakistan was far more diversified and sizeable than the current one.
He was speaking at Thai Chamber of Commerce & Industry, Board of Trade of Thailand, where Deputy Secretary General Kasemsit Pathomsak, Section Project Manager Charoen Pokphand Foods Public Company Limited Kulkanlaya Kritnoi, Managing Director MICAP Machineries Limited Mingpant Chaya, Thai businessmen and the LCCI delegation members also spoke on the occasion and showed keen interest in partnership with their Thai counterparts, according to Lahore Chamber's spokesman here Monday.
The LCCI president said that Pakistan was already exporting cotton, fish and other sea food, knitted fabric, meat, raw hides and skins, machinery, medical & optical apparatus and pharmaceutical products etc to Thailand, however, more efforts needed in this direction. Pakistan and Thailand, he said, had very strong credentials to give new strengths to their respective economies as both the countries had good geographical locations making them a safe heaven for investment.
Malik Tahir Javaid mentioned that volume of trade between the two countries was much below their respective potential in various sectors of economy and lack of dissemination of business-related information could be one of the biggest reasons. The import and export profiles of the two countries indicated that there was a potential of increasing Pakistan's export to Thailand, while Pakistan also had huge potential of importing goods from Thailand. He said that business-to-business contacts and one-to-one meetings were the most productive means of marketing country's products.
He said that Pakistan of its location was a gateway to markets of Central Asian Republics and the Gulf countries, citing that any investment made in Pakistan would find markets in the entire region. Industrial parks development would be a good choice for Thai business tycoons as they would surely be supported by Pakistan government as well.
Malik said that Thai investors, who were interested to weigh up the energy sector of Pakistan especially untapped potential of coal and renewable/alternate energy, would be facilitated all the way. LCCI was desirous of developing a close linkage among business support organizations to ensure continuity in mutual efforts of both the countries to increase bilateral trade volume.
“It is necessary that Chambers of Commerce and Industry and the Boards of Investment of the two countries play their due role to further expand economic and commercial ties. Trade fairs and single country exhibitions can be arranged on reciprocal basis to achieve this goal,” he suggested.
On this occasion, Mr. Kasemsit Pathomsak said that Pakistan had made substantial progress over the years and bilateral trade and diplomatic relations between the two countries had further strengthened. He pointed out that there was immense potential to enhance trade as major exports from Pakistan to Thailand including yarn and fibre, chemicals, finished oils, edible meat etc. but there were plenty of other products which could also capture share in Thai market, however, these needed effective marketing and promotional activities. He urged the business communities of both the countries to explore more avenues of enhancing trade and look for opportunities for joint ventures – APP