Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has apprised that the apex body has established and held first meeting of Pak – EU Business Forum to explore untapped trade, investment, economic and industrial collaboration potential with the world’s most important regional economic alliance; i.e. European Union.
Mr. Atif Ikram Sheikh added that cracking the EU market in a substantive manner can transform the entire economy of Pakistan – as geographical contiguity and regulatory uniformity offers a huge market for Pakistani products in a number of industries, sectors and verticals.
President FPCCI highlighted Pakistan’s major exports to the EU – including textiles & garments; agricultural products and leather goods – which are valued at $10 billion annually. Nonetheless, he emphasized the need to diversify Pakistan’s export portfolio to fully capitalize on the benefits of the GSP Plus status of Pakistan with the EU.
Mr. Zubair Baweja, Chairman of Pak – EU Business Forum of FPCCI, welcomed and congratulated the participants of the inaugural session; and, informed that the EU is the second largest trading partner of Pakistan. We are aiming to diversify, enrich, expand and value-add our export-basket to the EU member states, he added.
Mr. Zubair Baweja noted that the formation and activation of Pak – EU Business Forum marked a significant step towards strengthening Pakistan – EU trade relations; and, FPCCI looks forward to working closely with the EU diplomatic missions; trade delegations and Pakistani businesses to promote mutual cooperation and growth. It was decided to make working groups on different sectors and product categories for a focused and result-oriented facilitation to the trade & industry, he added.
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