LCCI-Romanian Embassy vow to enhance trade
Romanian Ambassador Emilian Ion has said that Romania wants to strengthen its business, educational and cultural relations with Pakistan and Romanian Embassy in Pakistan is making all out efforts in this regards.
He was talking to the LCCI Senior Vice President Almas Hyder here at the Lahore Chamber of Commerce & Industry on Saturday. LCCI Executive Committee Members and Honorary Consul of Romania Usman Pirzada were also present on the occasion.
The Ambassador said that Pakistan is a resourceful country. It has all weathers, vast fertile land, best quality fruits & vegetable. He said that Romanian investors are keen to step in joint ventures with their Pakistani counterparts.
He said that honorary consulates, Business Council Friends of Romania Group have been established in Pakistan to strengthen mutual economic ties. He said that exchange of delegations between Romania and Pakistan can help boost the bilateral trade volume which at the moment does not match the potential exist in the two countries.
The Ambassador said that Romania, being one of the largest members of the European Union, has many reasons for Pakistani businessmen to collaborate with their Romanian counterparts. He said that Pakistan and Romania can enhance their cooperation in the fields of Agriculture, Alternate Energy Sources and Information Technology.
He urged the business community to evolve an effective and sector-specific strategy in collaboration with Romanian businessmen for increasing the volume of twoway trade He said that fast- changing global scenario demands an enhanced economic activity and exchange of trade delegation and joint exhibitions are pre-requisite in their regard. Speaking on the occasion, the LCCI Senior Vice President Almas Hyder said that Romania happens to be the oldest civilization in Europe and it has a long history in almost all spheres of life. So far as different economic systems are concerned, it tried and experienced most of them.
He said that Romania's economy before World War II had been primarily agricultural and it saw lots of ups and downs in other sectors of economy before finding the right balance. Today, the macro economic indicators of Romania are showing further improvements as compared to other European states.
He said that though mutual trade between the two countries has jumped up to $ 193.2 million in 2014 from $ 114.8 million in 2012 but still a lot of work has to be done as both countries have potential to double the existing trade volume. "Pakistan mainly exports to Romania consist of woven fabric, guts of animal, polymers of styrene, bed/kitchen linen, matches and electromedical apparatus etc. Major imports from Romania to Pakistan are colza seeds, sunflower seeds, wood in finished and rough form, petroleum oils, wheat and ball bearing etc", he added.
The LCCI Senior Vice said that a number of projects have been set up in Pakistan with Romanian assistance. He said that some years back, an oil refinery in Karachi and two cement plants in Lasbella and Kohat were jointly established. There are other areas of economic cooperation like energy, IT, pharmaceutical and engineering etc.