LCCI calls for strength­en­ing of econ­omy

The Pak Banker - - Front Page - Staff Re­porter

LAHORE

The Lahore Cham­ber of Com­merce and In­dus­try Wed­nes­day called for an al­to­gether new coun­try-spe­cific strat­egy to show­case to the outer world the in­vest­ment op­por­tu­ni­ties avail­able in Pak­istan and to high­light the strength of econ­omy and coun­try's strate­gic lo­ca­tion.

The LCCI Se­nior Vice Pres­i­dent Ir­fan Iqbal Sheikh and Vice Pres­i­dent Mian Abuzar Shad were talk­ing to newly ap­pointed Am­bas­sadordes­ig­nate to Ja­pan Farukh Amil who called on them be­fore leav­ing for Ja­pan to take charge of his new as­sign­ment.

Lahore Cham­ber of Com­merce and In­dus­try Ex­ec­u­tive Com­mit­tee Mem­bers Mu­das­sor Masood, Mian Zahid Javaid Ah­mad and Nasir Hameed Khan were also present on the oc­ca­sion.

The LCCI of­fice-bear­ers in­formed the Am­bas­sador-des­ig­nate that iden­ti­fi­ca­tion of new ar­eas of co­op­er­a­tion and dis­sem­i­na­tion of trade-re­lated in­for­ma­tion in an ex­pe­dited way are the ar­eas need to be fo­cused on pri­or­ity ba­sis. They said that the com­mer­cial sec­tions of all the em­bassies abroad would have to play an ac­tive role for giv­ing much­needed quan­tum jump to Pak­istan's ex­ports.

"Com­mer­cial Sec­tion should keep it­self abreast of the de­mand of the Ja­panese for im­ported goods and to get en­gaged with Ja­panese busi­ness cir­cles."

The Lahore Cham­ber of Com­merce and In­dus­try of­fice­bear­ers said that Ja­pan of on of the tril­lion economies of the world but un­for­tu­nately Pak­istan share in its busi­ness with the outer world is neg­li­gi­ble.

They said that Pak­istan's ex­ports to Ja­pan in 2011 were only $206 mil­lion while the im­ports were 1,860 mil­lion dol­lars against Ja­pan's to­tal im­ports of $854 bil­lion and ex­ports $823 bil­lion.

Ma­jor ex­ports of Pak­istan to Ja­pan con­sist of cot­ton yarn, pe­tro­leum prod­ucts, wo­ven cot­ton fab­ric, veg­eta­bles, elec­tro med­i­cal ap­pa­ra­tus, leather, leather gar­ments, car­pets and sports goods etc.

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