FAISALABAD: A multi-sector trade mission from Belgium will visit Pakistan in 2018 while another group of Belgian buyers will also participate in Expo to be organized by Trade Development Authority of Pakistan in Karachi, said Frederic Verheyden Ambassador of Belgium. Addressing the business community at Faisalabad Chamber of Commerce and Industry here on Tuesday, he said that Faisalabad-based businessmen could be facilitated to have meetings with their counterparts to finalize their deals.
He said that Belgium was the geographical heart of European Union and hence, it’s member states and it is the Capital of Europe. “This small country is a great transit point allowing its ports in Antwerp and Zeebrugge to feed the European market of almost 500 million consumers by providing a fast and efficient cargo handling infrastructure”, he added.
He said that Belgian productivity was amongst the highest in the world. “Originality, creativity and high value technology have enabled Belgium to develop its production structures on modern lines”, he said and added that the in turn favours the birth and development of new industries.
Continuing, he said that steel, metallic, mechanical and electric construction, chemical and glass are the historical basis of the country’s prosperity. “Focused on the future, Belgium has also developed its expertise in the fields of telecommunications, software, new materials, bio-technology, aeronautical, petrochemicals, graphics, textile machinery and multi-media etc”, he added.
He said that it was therefore not surprising that foreign trade was a key factor in Belgium’s economic development and its exports amount to more than 80% of national GDP. “Although it represents only a small area on the map of the world, Belgium nevertheless accounts for a significant amount of global trade making it in the 10th largest exporting country in the world”, he added.
He said that industrial companies generate two thirds of their turn over through exports. “The figures for the service sector is almost 50%”, he said and added that these rates are among the highest in the world and also indicate why Belgium attracts so many foreign investors.
Giving an overview of the Belgium-Pakistan bilateral trade, Mr. Abid Hussain Trade Counselor said that it shows a steady increase every year. “In 2016, Pakistan’s exports to Belgium reached 406 million Euros, confirming the importance of Belgium as a strategic transit point for the European markets”, he said and said that 73% of Pakistanis exports were textile related.
Earlier, in his welcome address, Shabbir Hussain Chawla, President FCCI underlined the importance of Faisalabad and FCCI and said that Faisalabad has its own International Airport, largest Agricultural University of Asia, Dry Port, largest Industrial Estate of the province and the largest National Textile University in textile sector.
He said that major items of exports to Belgium are Textile Articles, cotton fabric, Synthetic textile, bed-ware, Readymade garments, Hosiery, Apparels & Clothing Accessories while Major Items of Imports are pharmaceuticals, Chemical Industry products, Metals, Plant and Machinery, Plastic and rubber products, Mechanical Appliances and Organic surface active agents etc.
He said that China Pakistan Economic Corridor (CPEC) was about to be materialized which will provide opportunities to the whole world, for Foreign Direct Investments (FDI) in Pakistan.
He said that most precious asset of Pakistan was its productive youth. “Its share in the total population of Pakistan is 45 percent”, he said and added that we must equip them with vocational and technical skills. He hoped that Belgium would support Pakistan in launching technical and skills up-gradation programs for its youth in addition to arranging scholarships for Pakistan students for their education in emerging sciences.
He also proposed exchange of information between embassy of Belgium and FCCI on market studies, product demand, business laws and regulations. On the occasion, FCCI mementoes were presented to Mr. Frederic Verheyden the Ambassador of Belgium and Mr. Abid Husssain Trade Consular of Belgium whereas Mr. Frederic Verheyden also presented a gift to Shabbir Hussain Chawla.
Later, Mr. Frederic Verheyden also formally inaugurated an Exhibition of Catalogues of the Belgium Companies in FCCI boardroom.
