FAISALABAD: Belarus has huge potential to enhance bilateral trade relations with Pakistan and Pakistani exporters must make concerted efforts to harvest maximum dividends of untapped potentialities, said Sajjad Haider Khan, Pakistani Ambassador in Minsk Belarus.
He was addressing a zoom conference with the business community of Faisalabad. Sajjad Haider said that Belarus is a technologically developed country with a population of only 9.4 million. He said, “We should consider capitalization of its technology by proposing efficient hi-tech joint ventures which could have a trickle down effect on our entire industrial sector.” He said that the main export of Belarus comprises minerals and fuels which is around 20% of its total exports. About trade balance, he said, “Pakistani exports to Belarus are around 15 million dollars whereas our imports are around 35 billion dollars. Hence the balance of trade is in favor of Belarus”.
He added that Belarus has a well-developed banking system. He said that serious efforts are required to bridge the trade imbalance and in this connection, Pakistani exporters must focus on this potential market. He said that the Pakistan embassy in Minsk had arranged around 120 promotional activities during the last one year with a high-profile mango festival which was participated by more than 5, 000 visitors and guests. He further said that both countries have so far inked 18 MoUs while another 12 are in the pipelines. He said that Belarus has developed nine special economic zones where joint ventures could be launched. He said that Belarus is also exporting dairy products worth 6.5 billion dollars and Pakistan should also benefit from its experience and expertise in this specific sector.
He said that hardly 70 Pakistani are living in Belarus with 28 students. He also identified the potential areas in which Faisalabad based exporters could play their proactive role and launch joint ventures for the benefit of two countries. In this connection, he particularly mentioned textile, hosiery products and fresh Kinnow which has great demand in Belarus. He hoped that Faisalabad Chamber of Commerce & Industry (FCCI) would arrange a trade delegation which could interact with their concerned counterparts and launch new and innovative ventures in near future.
Earlier Atif Munir Sheikh President FCCI said, “We must pool our energies to give a quantum jump to the national exports.” He said that the government is also offering liberal incentives to attract maximum FDI and in this connection one window scheme has been launched. He said that industrial estates like M3 and Allama Iqbal Industrial Estates have been established where foreign investors are establishing their hi-tech industrial units. He said that FCCI will welcome investors from Belarus and would facilitate them to set up their industrial units in these industrial estates. He said that FCCI is planning to send a trade delegation to Belarus so that they could directly interact with their counterparts and explore new business opportunities. He requested the Pakistani ambassador to facilitate this delegation by arranging their meetings with serious investors from Belarus.
Imran Mahmood Sheikh Senior Vice President FCCI introduced Faisalabad and FCCI and said, “We must enhance our exports to stabilize the economy on a sustained basis.”
Bilal Jameel, Muhammad Tayyab, Muhammad Ammar Saeed, Shehzad Hussain, Khalid Nadeem, Shahbaz Ahmed, Rana Habib and Engineer Asim Munir were also present during this zoom meeting.