Business Recorder
Traders urged to explore business opportunities in Belarus

Traders urged to explore business opportunities in Belarus

KARACHI: 適ey Reforms and a transparent and business friendly regime in Pakistan such as hardworking labour force, competitive tax & tariff structure, no restriction on holding 100 percent equity, no bar on repatriation of capital or dividend, low cost of doing business have shaped up Pakistan for a high-paced economic activity and as such offers a lot of opportunities to foreign investors.

This was stated by Aamer Ata Bajwa, Acting President of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) in his welcome address, while inaugurating the 3rd session of Pak-Belarus Joint Business Council (JBC) meeting which was attended by a high profile Belarus trade delegation headed by Vataly Vovk, Minister of Industry of the Republic of Belarus; Inam, Secretary Trade Development Authority of Pakistan (TDAP), Members of Joint Business Councils of both the countries and member of trade bodies.

Acting President of FPCCI underscored the need to explore the unexploited business avenues/opportunities and expand bilateral trade between both the friendly countries, which at present are at minuscule level and does not reflect actual potential of trade. He added that this is evident from the existing volume of trade -$47 million- of both the countries, out of which Pakistan痴 exports to Belarus was $7 million only as against Belarus exports of $40 million, besides signing of 19 Memorandum of Understandings (MoUs) between both the countries in the recent past with the view to strengthen mutual multifaceted ties particularly in the areas of trade, commerce, education, culture etc.

The FPCCI Acting Chief attributed the reason for low level of trade to the confinement of trade in few traditional products, from both the sides. He proposed that the trade volume can be increased by including the competitive products such as fertilizers, agri-auto, chemicals etc from Belarus, while Pakistan is a leading exporter of agro-based industrial products such as textiles, leathers and leather goods, surgical instruments, sports goods, marble & onyx etc

Bajwa further informed that MoU for the establishment of the Joint Business Council (JBC) was signed on 27th May 2015, and its first meeting was held in the month of August, 2015, during the visit of Prime Minister Nawaz Sharif to Belarus.

Acting President emphasized the need of holding single country exhibitions and exchange of trade delegations between both the friendly states, which will ultimately increase the bi-lateral trade.

Andrey Ermolovich, Ambassador Extra Ordinary and Plenipotentiary of Belarus to Pakistan said that the cordial relations between both the countries provide good joint venture opportunities to the private sector of both the countries.

The Joint Business Council meeting was also attended by Ishtiaq Baig and Masooma Sibtain, Vice Presidents and Tariq Khalil, Co-Chairman, Pak-Belarus Business Council of FPCCI and others prominent businessmen. At the conclusion of the JBC, B2B meetings were held between Pakistani and Belarusian businessmen.猶R

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