LAHORE:Norwegian Ambassador Kjell Gunnar Eriksen said on Friday that Norway and Pakistan had great potential to boost mutual trade.
Various Norwegian companies are operating here including Telenor and more are ready to invest, he said.
While talking to LCCI Vice President Tahir Manzoor Chaudhry at the Lahore Chamber of Commerce & Industry, the Ambassador said that Norway is one of the largest foreign investors in Pakistan.
He said that that Pakistan needs to take measures for ease of doing business for the foreign investors. He said that all procedures should be simplified which would attract more companies of Norway to start their businesses in Pakistan. The Ambassador said that Norway is establishing a solar power plant of 150 MW in Sindh.
LCCI Vice President Tahir Manzoor Chaudhry said that Norway is second home to many Pakistanis and both the countries have excellent relations ranging from diplomatic, cultural and economic relations. “We wish to further strengthen the economic and trade relations with Norway”, he added.
He said that the volume of bilateral trade has not even touched 100 million dollars as it stood at around 83 million dollars in 2020. Exports from Pakistan to Norway are around 57 million dollars while our imports from Norway are around 26 million dollars. It is worth mentioning that Pakistan’s exports to Norway are heavily concentrated in textiles.
The LCCI Vice President said that although Pakistan enjoy a positive trade balance with Norway but the volume can be increased by many times and in this connection the support and guidance of the Embassy of Norway holds great importance.
He said that Norway holds a special place in the world’s economy due to its Energy sector. He said that there are tremendous opportunities for Norwegian companies to enter into joint ventures with Pakistani companies, particularly in Oil, Gas, Renewable Energy and Maritime sectors.
Tahir Manzoor Chaudhry said that the other potential areas where Pakistan and Norway can enhance trade and economic cooperation are Mobile Phone Manufacturing, Electric Vehicle Manufacturing, Automotive Parts, Pharmaceuticals, Processed Food, and Surgical Instruments etc.
He said that Special Economic Zones are being established all across the country under China Pakistan Economic Corridor with all the essential infrastructure facilities. The government is also giving lucrative tax incentives to both the local and foreign investors in these SEZs. We would request you to play a role in apprising the Norwegian companies about these latest developments. He said that there is a vast scope for joint venture between the two countries in the fileds of biotech and cosmetics. Former LCCI Senior Vice President Amjad Ali Jawa, Muhammad Khalid, Dr. Riaz Ahmad, Haji Asif Sehar, Wasif Yousaf and Naeem Hanif also spoke on the occasion.