LCCI calls for strengthening of economy

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.