Pakistan-Mexico mull to deepen trade ties: Yassar Sakhi Butt

ISLAMABAD: Mexican government is keen to accelerate the trade and investment activities with Pakistan considering it an important market for its various products. These remarks were made by Mr.Mark MCGuiness, Pakistan Honorary Consul in Mexican State, during a meeting with Yassar Sakhi Butt, President of Islamabad Chamber of Commerce and Industry ICCI . Lt. Gen. Mr. Masood Aslam, Ambassador of Pakistan in Mexico also accompanied him.
Mr. Mark said that more than 80 percent of Mexican trade is with the USA as it did $400 billion of business with the United States in 2011. He said that Mexico is an export-oriented economy, dominated by a mixture of industries and agriculture and is one of the biggest exporter to Latin America and recently became one of the largest automobile exporters in the world, who manufactured 2million units of cars per year.
Honorary Consul said that mutual efforts to strengthen bilateral relations and cooperation in diverse fields should be made to enhance the volume of bilateral trade between the two countries.
During the meeting, Lt. Gen. Mr. Masood Aslam, Ambassador of Pakistan in Mexico said that it is essential that private sectors of both the countries should come forward and interact more frequently. He said that there is tremendous untapped potential in both the markets and Mexico and Pakistan should seriously sit together and draw out a strategy to boost economic cooperation.
Speaking on the occasion, Yassar Sakhi Butt, President ICCI said that Pakistan is a very promising economy and an attractive investment destination, all sectors of the economy were open for investment with attractive incentives.
He termed the annual bilateral trade between Mexico and Pakistan was very low which is around $175million and underlined the need to further improve it. He said that exchange of business delegations could be better option for exploring areas of common interest.
ICCI President suggested that cooperation could be enhanced in energy, tourism, surgical, sports goods, textile, agro, pharmaceutical and marble sectors. He also said that Pakistan is becoming more competitive in the world by having cheap labour which provides an ample opportunity for foreign investors to explore the areas of common interest.

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