Ambassador-designate to Bosnia-Herzegovina urges Pakistani businessmen to make inroads in Bosnia to tap huge trade potential

Lahore, May 30, 2014 (PPI-OT): The Ambassador-designate to Bosnia-Herzegovina Lt Gen (retd) Muhammad Yousaf on Friday urged Pakistani businessmen to make inroads in Bosnia to tap huge trade potential exists in Eastern European countries.

The Ambassador was talking to LCCI Vice President Kashif Anwar during a visit to Lahore Chamber of Commerce and Industry. Hasnain Raza Mirza and Muhammad Anwar also spoke on the occasion. He said that interaction with the Bosnian businessmen would enable Pakistan private sector to get access to whole of Balkan region that mostly comprises Muslims.

The Ambassador-designate also informed the participants that there were strong signals that Bosnia was likely to join EU group in near future and any business in that part of the world would bound to win European Union.

He said that he would make all out efforts to turn Pakistan mission into Bosnia a match-making point for the business community in the two countries. He said that he would also utilize Bosnian media to highlight the soft image of Pakistan as in today’s world media is a strong tool to propagate information.

Speaking on the occasion, the LCCI Vice President Kashif Anwar said that the Lahore Chamber of Commerce and Industry understands that there is a great scope for the construction industry of Pakistan to make business deals with the Bosnian business community.

Talking about two-way trade between two countries, he said that the business community could not materialize the actual potential for the greater benefits of each others.

He said that instead of making any headway in increasing two way trade, we are actually loosing the flow of trade which is significantly low. He said that recent years show a dismal trade performance and special efforts are direly needed to turn around this situation.

The LCCI Vice President said that in year 2013, Pakistan exports to Bosnia were just USD 72,000 and our imports were only worth USD 68000. It does call to take serious steps at public and private level.

He said that Pakistan exports just electro-medical apparatus, articles of cutlery, gloves, mittens, leather garments and men’s suits etc. Our imports from Bosnia are flat rolled products of iron, printing machinery, conveyor belts, filtering machines and electro-medical apparatus etc.

Kashif Anwar said that Bosnia imports pharmaceutical products worth USD 321 million, raw hides and skins worth USD 208 million, footwear worth USD 181 million, cereals worth USD 145 million and sugars and sugar confectionery worth USD 131 million.

He said that these are such items which can be exported to Bosnia from Pakistan at much competitive prices. He stressed the need to identify new products to trade with and also make the trading arrangements much safer and efficient.

He said that your good offices in Sarajevo can study these markets and suggest ways to improve the situation. We will certainly welcome to receive trade related information from you. He informed the visiting diplomat that LCCI has established a Mediation Centre in August 2012 with active collaboration of IFC.

He said that there are more than 40 accredited mediators registered with LCCI who can help the local, national and international businessmen for out of the court settlement. This centre will serve as a confidence booster for Bosnian business community to positively consider Pakistan for trade expansion.

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854

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