Call for new methodology to enhance exports to Kuwait
The Lahore Chamber of Commerce and Industry on Wednesday called for a whole new methodology to increase Pakistan's exports to Kuwait that has a huge potential for Pakistani products.
The LCCI President Farooq Iftikhar was talking to Ambassador-designate to Kuwait Syed Abrar Hussain during latter's visit to the Lahore Chamber of Commerce and Industry. LCCI Vice President Mian Abuzar Shad and Executive Committee member Mian Zahid Javaid Ahmad also spoke on the occasion.
While assuring his full support to the Ambassador, the LCCI President aid that Kuawit has a marvelous potential for Hilal Food products and a little attention towards this particular sector could give a quantum jump to Pakistan's exports.
Farooq Iftikhar was of the view that Pakistan's exports to all the Muslim countries are very small as compared to their respective potential and Pakistani missions in these countries would have to go extra mile to enhance bilateral trade relations.
He also urged the Ambassador to play his role proactively for the dissemination of trade related information as a lot many business opportunities go out of hand because they often could not reach right hands.
The LCCI President said that the exchange of trade delegations is a proven and important tool to strengthen bilateral relations therefore the embassy in Kuwait should convince Kuwaiti businessmen for a visit to Pakistan.
He said that energy shortage in Pakistan is a huge opportunity for the Kuwaiti businessmen and they could initiate joint ventures with their counterparts in solar energy sector for the benefit of the people of two countries.
He said that coal mines in Punjab are an attractive area as energy deficit can be combated by producing electricity with coal thus providing a vast ground for Kuwaiti investors. The export of Rice is another sector which is not fully exploited. Pakistan can earn far more than present by exporting rice to Kuwait and decrease the deficit of its oil bill
He said that joint ministerial commissions should be arranged more frequently.
He said that Pakistan has expertise in the textile sector and has a fair share of trade in exporting textiles to Europe and USA. Exports in this sector need to be enhanced.
He said that Kuwaiti investment in the country can reap lucrative results for the economy of Pakistan. It can create employments and hence add to the GDP.