EU delegation in Lahore to find trade opportunities between EU, Pak

LAHORE: European Union’s (EU) special delegation to Pakistan has been tasked with finding opportunities to increase trade between the European Union and Pakistan. This was the focus of the visit of Deputy Head of EU Delegation to Pakistan Pierre Mayaudon and First Counsellor Political and Trade of EU Union Delegation Alexander Borges Gomes, where they met members of the Lahore Stock Exchange (LSE) and prominent business figures.

Mayaudon and Gomes were welcomed at the LSE by the Managing Director and Chief Executive Officer of LSE Aftab Ahmed Chaudhary. The visiting dignitaries also held a detailed meeting with directors and senior members of the exchange during the visit.

LSE Chief Information Officer Khurram Zafar, briefed the visitors about the role and function of LSE. He also highlighted the role of LSE in the development of the capital market in the country. He stated that LSE was the first stock exchange in the country to introduce electronic trading back in 1997 and had gone on to indigenously develop its own trading platform called ULTRA. This trading platform was subsequently been sold to Karachi, Islamabad and Ghana Stock Exchanges. LSE was also the only stock exchange to focus on retail expansion by setting up regional trading floors. He emphasised that stock markets in Pakistan offer a favourable and open environment to foreign investors.

Chaudhry highlighted various initiatives to be taken by the exchange in future to promote business opportunities and investments in various sectors of Pakistan. He informed the visiting dignitaries that there are many opportunities even at small and medium scale still waiting to be tapped by entrepreneurs and companies and the exchange is fully equipped to facilitate these investments. This would also offer a broader array of investment opportunities to foreign and local investors. He impressed upon the visitors to play proactive role in apprising the foreign investors about the conduciveness of making investment in Pakistan in the prevailing business environment. He further apprised them about the steps taken by the exchange in recent times to enhance the confidence and trust of the investors in the functioning of the exchange as a frontline regulator. Especially, the exchange is committed to provide transparent and fair dispute resolution mechanism for adjudicating the disputes arising between the member and broker of the exchange and investors.

Mayaudon and Gomes lauded the efforts of LSE for playing pivotal role in the development of the capital market. He informed the LSE Board members of the initiatives taken by the European Union in the past and in progress to help in the development of economy of Pakistan.

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