LAHORE: Pakistan High Commissioner in Australia Naela Chauhan Friday said, Pakistani Consulate would share available business opportunities and would pave way for joint ventures between the private sectors of the two countries.
She stated this in a meeting with Lahore Chamber of Commerce & Industry (LCCI) President Abdul Basit at Canberra.
According to a press release issued by LCCI here, they agreed to further cement trade and economic relations between Pakistan and Australia. There was also a consensus to adopt new methodology to expedite the volume of two-way trade.
Pakistan High Commissioner said, private sector would have to play an important role to enhance existing trade volume that does not match the potential of the two countries.
She appreciated the LCCI efforts to promote external trade of Pakistan and promised to extend beset cooperation to promote bilateral trade.
LCCI President Abdul Basit said, Pakistani Missions abroad should establish display centers for Pakistani products and cultural centres to promote Pakistani culture. “These measures would help Pakistani products to get due share in the global market and would also attract foreigners towards Pakistan,” he added. Basit said, the size of global market for Halal products is estimated dollar 3 trillion. Pakistan is a natural base for Halal products. If we could acquire 10% share in its trade then we can easily enhance our exports by more than two times.
He said, Australia and Pakistan had been steady trading partners. “We are concerned about the comparatively low level of Pakistan’s exports to Australia which results in unfavourable trade balance,” the LCCI President added and said that the current level of exports to Australia did not match the actual export potential of Pakistan.
He said, trade diplomacy was another important tool that greatly helped in paving ways between two countries to increase the bilateral trade relations.
