FAISALABAD: Trade Commissioner Royal Embassy of Belgium Abid Hussain has suggested that Faisalabad must diversify its export base to en-cash maximum dividends of GSP Plus.
Addressing a function at Faisalabad Chamber of Commerce and Industry (FCCI) on Belgium Business Contact Day and Catalogue Exhibition, he said that Belgium was third major trading partner of Pakistan from amongst 27 EU countries. He said that Belgian productivity is highest in the world while creativity, originality and high value technology had enabled it to develop its production structure.
He said that foreign trade was a key factor in Belgium’s economic development. ‘It represents only 0.2% of the world population,” he said and added that it accounts for almost 2.4% of world exports making it 11th largest exporter of goods worldwide and 13th largest exporter of services.
He said that the economic and commercial representative of Belgium organises several business-related activities every year which include catalogue exhibition in col
laboration with chambers. He also invited Pakistani entrepreneurs to explore the possibility of investing in Belgium. ‘The area of immediate interest would be to set up distribution centers and warehouses for your products that could be re-exported to other European markets,” he added.
Trade and Commercial Officer Shaukat Niazi, speaking at the event, said that various companies had displayed their catalogues at this exhibition; however, the FCCI members could get the required material by presenting a written application. He appreciated the quality of Pakistani products and said that Abid Hussain had been serving in that capacity for the last 35 years. During that long period, only five complaints of minor nature were received, he recalled.
FCCI Senior Vice President Dr Sajjad Arshad welcomed the guests and said that Belgium is leading the world in technology, pharmaceutical and services sectors. He said that Belgian investors should explore opportunities for investment in the pharmaceutical sector in Pakis
tan. FCCI has 10000 members representing 118 sectors and sub sectors, he added. The FCCI official said that bilateral trade with Belgium was far less than the potential and it should be enhanced to at least $5 billion annually. He quoted his recent visit to Ethiopia and said that that country was importing 96% medicines from different countries. He said that Pakistan could develop its pharmaceutical sector in collaboration with Belgium and export its surplus to Ethiopia and other similar countries.
A documentary about Belgium was also screened while Executive Member FCCI Mian Muhammad Tayyab offered a vote of thanks. Vice President Hajji Muhammad Aslam Bhalli, Chaudhry Talat Mehmood, Hajji Muhammad Abid, Mian Abdul Waheed, Sheikh Muhammad Fazil, Tayyab Gillani and Sohail Butt took part in the question-answer session.
Later, SVP Dr Sajjad Arshad presented the FCCI shield to Abid Hussain, who also visited the catalogue show and had a group photo with the participants in the meeting.