Karachi (PR): In a statement, Mr. Irfan Iqbal Sheikh, President FPCCI, has emphasized that Pakistan should take steps to plug the bilateral trade deficit with Belarus as currently the trade balance is overwhelmingly in Belarus’s favor. He added that as per the trade statistics of 2021, Pakistan imported $74.6 million worth of goods and, on the other hand, exported only $1.9 million worth of goods to Belarus; translating into a bilateral trade deficit of $72.7 million. This is disproportional and we must address the root causes, he added.
It is pertinent to note that a high-profile delegation of FPCCI’s Pakistan-Belarus Business Council is visiting Belrus on the advice of Mr. Irfan Iqbal sheikh; with a mandate to forge people-to-people; business-to-business and chamber-to-chamber alliances with the friendly country of Belarus. The delegation is being led by Mr. Umar Masood Ur Rehman, VP FPCCI.
Mr. Irfan Iqbal Sheikh maintained that Pakistan should focus on exporting value-added textiles; leather products; IT services; fruits & vegetables; minerals; surgical goods and sports products to Belarus. He added that Pakistan should strive to establish JVs in manufacturing with the fairly developed industries of Belarus; particularly in metal-cutting machines, tractors, trucks, earthmovers, motorcycles, synthetic fibers, fertilizers, refrigerators and other home appliances.
H. E. Mr. Sajjad Haider Khan, Ambassador of Pakistan in Belrus, hosted the delegation of the Pakistani business, industry and trade community and assured of his full support in facilitating trade and economic cooperation. He added that it is heartening to observe the efforts of FPCCI to explore the untapped export potential to Belarus; which will ultimately result in enhanced economic cooperation between the two countries.
Mr. Umar Masood Ur Rehman has held various significant meetings with his counterparts in Belarusian Chamber of Commerce & Industry; and, have discussed trade promotion activities; exchange of delegations; single-country exhibitions; B2B networking; measures to promote ease of doing trade; potential areas of investments and joint ventures. He noted that Pakistan and Belarus have the potential to become complementary economies through shared visions and interdependencies.
Mr. Saad Masood Ur Rehman, Chairman of FPCCI’s Pak-Belarus Business Council, extended the warm invitation to his Belarusian counterparts to visit Pakistan and explore the potential areas of cooperation. He added that FPCCI and its Pak-Belarus Business Council will help their Belarusian counterparts to form linkages and business alliances with Pakistani business community for the mutual good of the two countries.
