Lahore Chamber delegation leaves for 12-day visit to South Korea, China, Vietnam

LAHORE: A six-member Lahore Chamber of Commerce and Industry (LCCI) delegation under the leadership of LCCI President Shahzad Ali Malik Monday left for a 12-day visit to South Korea, China and Vietnam with an objective to bolster foreign investment and further strengthen bilateral trade relations.

Meeting with the top KORAIL management for securing locomotives for Sheikhupura Dry Port, visit to Eui Wang Inland Container Depot, tour of Locomotive Maintenance and Central Railway Traffic Centre in Seoul and Business-to-Business meetings at Seoul Chamber of Commerce and Industry after talks with South Korean Business leaders are the main features of LCCI delegation visit to South Korea.

The Delegation having in its fold LCCI Executive Committee Member Khawaja Khawar Rashid, former EC member Mohammad Amjad Chaudhry, Shahzaib Gull Vohra, Shamim Ahmad Malik and Sheikh Khalid Humayun will depart for China on June 9.
During their three-day stay in China, the LCCI delegation would have meetings with President Shenzhen Chamber of Commerce and Industry, business community of Shenzhen.

The delegation would also attend a working lunch arranged by Pakistan Consul General in Shenzhen and a working dinner by Biocentury Transgene.

The LCCI team would also visit different factories besides having B-2-B meetings in Guangzhou Province.

On June 12, the LCCI delegation would have a meeting with Vietnamese business leaders at Ho Chi Minh Chamber of Commerce and Industry. A visit to various industrial units in Ho Chi Minh City is also part of LCCI delegation’s tour to Vietnam.

From Ho Chi Minh City, the LCCI delegation would leave for Hanoi on June 14 where it would be meeting with Hanoi Chamber of Commerce and Industry. Pakistan’s Ambassador in Hanoi has also arranged a working dinner in honour of LCCI delegates.
The LCCI President Shahzad Ali Malik said that South Korea is one of the important trading partners of Pakistan and the volume of trade between Pakistan and South Korea was bound to increase as both the governments are making sector-specific moves to get the desired results.

He said that non-availability of required trade-related information was the biggest hurdle in the way of South Korean investment in Pakistan. Korean investment in Pakistan is very little when it is compared with the rest of the world. There is a need for the technology transfer as both the countries have a lot to learn from each other.

To create a win-win situation for both the countries, Koreans need to increase their imports of cotton, raw hides & skins, fish, medical apparatus, toys & games, leather products, articles of apparels and textile articles from Pakistan. Most of the Korean demand for these commodities is being met by Korea from sources other than Pakistan and only a small fragment is being imported from Pakistan. A little attention by the Korean Government and businessmen can increase Pakistan’s exports to Korea considerably.

He said Vietnam’s market offers huge potential for Pakistani products like auto parts, pharmaceutical products, man-made filaments, knit fabrics, plastics & plastic products, fish, dairy products, surgical instruments, distillation products and handicrafts. Pakistan and Vietnam both being agricultural economies can also collaborate in agricultural implements and machinery sectors and can share their agricultural experience.

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