LAHORE: Australian investors should come forward and explore the huge potential exists in Pakistan which is fast becoming good destination for Foreign Direct Investment (FDI) in South Asia.
These views were expressed by the LCCI Vice President and Deputy Head of a trade delegation visiting Australia, Syed Mahmood Ghaznavi while addressing at a high profile meeting Australia Pakistan Business Council. Chairman of the Council Rana Iftikhar, Pakistani Consul General in Australia Abdul Aziz, Member Australian Parliament Toni Issa, Khawaja Khawar Rasheed and other members of the delegation also spoke on the occasion.
Syed Mahmood Ghaznavi said that said that Australian technology and experience in Power Generation, Agriculture, Livestock, Sports goods, Information Technology, Health and Education sectors of Pakistan could play important role for economic uplift of the country.
Syed Mahmod Ghaznavi said that said that with extensive natural resources, including oil and natural gas reserves, the fourth-largest coal reserves in the world and potential for hydropower, Pakistan offers marvelous opportunities to Australian businessmen.
He said that there are prospects for growth in trade and investment particularly in the field of agribusiness, education, mining for oil and gas exploration, IT & Communications and development of processed foods etc.
LCCI Vice President also stressed the need for an enhanced bilateral trade between the two countries. He said that both the countries can take the bilateral trade to USD 1 billion with some concerted efforts at public and private levels.
Syed Mahmood Ghaznavi said that dairy and livestock sector is growing well in Pakistan and there is still a tremendous potential of growth which can be explored through joint ventures between Pakistani and Australian businessmen. Similarly animal fattening projects are also picking up in Pakistan and the animals are being imported from Australia. Other important sectors are fresh fruit juices and beverages which promise excellent return on investments.
LCCI Vice President said that Pakistan was an agro-based economy but unfortunately, most of excessive agriculture produce wasted due lack of post harvest technology. He said that Pakistan was striving hard to strengthen its agro-based and dairy industry. He said that in this regard, the professional expertise of Australian agro-based industrial sector could be very helpful. He said that there is a vast scope of investment in horticulture, cattle and sheep breeding, processing, canning, packing, and preservation of fresh fruits and vegetables.
President of Australia Pakistan Business Council Rana Iftikhar in his address pledge to work for strengthening the trade and economic ties between the two countries.
