KARACHI: A high-powered delegation from Belarus Chamber of Commerce and Industry (BCCI) comprising representatives of the textile, leather, heavy machinery, construction machinery, petrochemicals, medical equipment and tire sectors, during its visit to the Karachi Chamber on Friday, expressed keenness to undertake joint ventures with their counterparts in Karachi in order to promote trade and investment ties between the two countries.
The Belarusian delegation, which was led by Valery Labun, Director General of the Brest branch of BCCI, comprised of Denis Kozlov, Senior Foreign Economic Relations Expert of BCCI, Alexey Koryagin, Mrs. Nadezhda Shedova, Mrs. Anna Dashkova, Mrs. Natalia Bukach, Vadim Kolosov, Yauhen Maskaliou, and Jurabek Kirgizbekov.
President KCCI Younus Muhammad Bashir, Senior Vice President KCCI Zia Ahmed Khan, Vice President KCCI Muhammad Naeem Sharif, Former SVP KCCI Muhammad Ibrahim Kasumbi and KCCI managing committee members were also present at the meeting.
Speaking on the occasion, Director General of the Brest Branch of Belarusian Chamber of Commerce and Industry Valery Labun stated that they were visiting KCCI as part of an agreement on cooperation between the two Chambers which was inked during the last visit of Belarusian Prime Minister to Islamabad.
He was fairly optimistic that Belarusian delegation’s visit to KCCI would help in matchmaking and prove very fruitful in furthering cooperation between the Karachi and Belarusian Chambers.
He also invited the KCCI to participate in an ‘International Exhibition and Business Forum’ scheduled to be organized from April 23rd to April 27th, 2016 in Belarus which would help in bringing the business communities more close to each other.
Earlier, while welcoming the delegates, President KCCI Younus Muhammad Bashir stated that with improved law and order situation and upon completion of China-Pakistan Economic Corridor (CPEC), Pakistan was likely to attract substantial amount of foreign investment and the Belarusian investors can also benefit from the situation by investing or undertaking joint ventures, particularly in Karachi city.
He also expressed KCCI willingness to strengthen trade ties and exploring new bilateral trade prospects with Belarus which would result in improving the existing meager trade volume. He noted that during Fiscal Year 2015, Pakistan exported goods to Belarus worth $1.66 million whereas its imports stood at around $26.77 million. “In this regard, collective efforts are needed from both sides to improve the existing trade relations between the two countries”, he added.
Younus Bashir was of the opinion that there was a huge potential to enhance trade by focusing numerous sectors of the economy, particularly heavy vehicles and other construction machinery which have been in great demand in Pakistan but their rates must be competitive to appeal to the Pakistani market. Moreover, Belarus can also assist Pakistan in boosting its automobiles industry, he added.
“Pakistan’s business community may take advantage of the Customs Union arrangement between Belarus, Russia and Kazakhstan whereby goods imported into either of the three states can freely cross borders between the member states of the union”, Younus Bashir said, “Belarus has favorable conditions for setting up new businesses, and Pakistani businessmen may appoint their agents in the capital city of Minsk to further promote business activity.”
He further stressed that both countries can explore the possibilities of joint ventures in automobiles, services and industrial products while investment in the agriculture machinery sector could also be a healthy offer and collaboration with the Pakistan Military organizations in the production of heavy vehicles would be very useful.
