Chile for boosting trade with Pakistan

ISLAMABAD: Pakistan and Chile have great potential for trade and investment in many sectors, which need to be exploited through greater co-operation between the two countries.

Chilean Director of Asia-Pacific, Ambassador Jose Miguel de la Cruz made these remarks in a meeting with Yassar Sakhi Butt, President, Islamabad Chamber of Commerce and Industry (ICCI). He said that Chambers of commerce and industry could play an important role in building trade relations between entrepreneurs of both countries.

He said that Chile received foreign investment of $80 billion in the last year opening its various sectors for foreign investors.

Chile also signed free trade agreements with 60 countries to tap further opportunities of business with the rest of the world, he added.

Chilean Director of Asia-Pacific highlighted the expertise, technical strength and experience in the field of mining and said that joint ventures could be initiated in this sector which would accelerate mining activities in under-explored areas of Pakistan.

He invited the business community to visit Chile and establish joint ventures in areas of mutual interest for realizing the full potential of trade.

Speaking on the occasion, Yassar Sakhi Butt said that Pakistan is a peaceful nation and regretted the role of the international media portraying a negative image about Pakistan, with the result that foreign buyers and investors are reluctance to do business with the country.

He said that Pakistan offers lucrative investment opportunities in mining, energy, oil and gas, agriculture, infrastructure development, construction including other sectors of its economy.

The ICCI President said Chilean investors should take advantage of these opportunities and by investing in Pakistan, they cannot only cater to the needs of a rapidly growing domestic market but could also earn good profits by exporting surplus products around the world.

Yassar Sakhi Butt termed the annual bilateral trade between Chile and Pakistan low which is around $800 million and underlined the need to improve it further.

He said that exchange of business delegations could be a better option for exploring areas of common interest.

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