LCCI-Ro­ma­nian Em­bassy vow to en­hance trade

The Pak Banker - - NATIONAL -

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.

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