LAHORE: Ambassador of Bosnia to Pakistan Nedim Markarevic has urged the Pakistani businessmen to visit his country to explore available business opportunities as the existing volume of two-way trade is far below their respective potential.
The Ambassador was speaking at the Lahore Chamber of Commerce and Industry on Monday. The LCCI President Engineer Sohail Lashari updated the visiting diplomat on economic situation in Pakistan while LCCI Senior Vice President Mian Tariq Misbah and Vice President Kashif Anwar also spoke on the occasion.
LCCI Executive Committee members Zafar Mehmood, Maqsood Ahmed Butt, Talha Tayyab Butt, Mian Zahid Javaid Ahmad, Muhammad Haroon Arrora, Khawaja Khawar Rashid, Chaudhry Muhammad Aslam and Haji Muhammad Akram also attended the meeting.
The Ambassador said that the exchange of delegations was a must to give boost to the bilateral trade therefore the Lahore Chamber of Commerce and Industry should constitute a sector-specific delegation to Bosnia.
He said that Bosnian Embassy in Islamabad would extend all possible cooperation for the success of the delegation. “The embassy would ensure LCCI delegates’ meeting with counterparts in Bosnia.”
Nedim Markarevic said that business in Bosnia means business with European countries as the strategic location of his country opens up doors to a number of EU members.
He said that Tourism and Construction sectors offer a huge opportunity to Pakistani business community therefore they should avail them.
The Ambassador said that very low inflation rate and high per capita income were some of the features that provide sufficient reasons to do business in that part of the world.
Nedim Markarevic also gave a detailed presentation to the LCCI office-bearers about the strategic location of Bosnia.
The Ambassador said that Bosnia & Herzegovina for being located in the heart of Europe has its 43 per cent of the total territory most useful for modern industry.
He said that Bosnia and Herzegovina has large capacities in the wooden industry related to production of goods for foreign markets. The Ambassador said that the country is quite rich in the metal industry and the opportunities are available in Steel and Aluminum sectors.
Speaking on the occasion, the LCCI President Engineer Sohail Lashari said that the LCCI delegation would visit Bosnia in the month of July to have firsthand knowledge about the available business opportunities.
He said that both the private sector and the public sector in the two countries would have to make concerted efforts to increase the volume of bilateral trade.
The LCCI President said the economic relations between the two countries did not reflect their close fraternal ties and there was a need to cement trade and economic relations. He called for exchange of trade related information to enable the Pakistani businessmen to have interaction with their counterparts.
“We need to identify new products to trade with and also make the trading arrangements much safer and efficient.”
He said that continuous engagements of the diplomatic missions with the business community of both the countries, exchange of business delegations, orientation to the products of each other’s countries and holding of single country exhibitions can be highly fruitful in enhancing trade between the two countries.
Exchange of information through websites, printed matter, cultural events and documentaries can also help to promote the bilateral socio-economic relations.
Bosnia Herzegovina has a highly developed dairy and auto industry. Pakistani business community would like to share technology in these sectors through joint ventures.
Pakistan exports electro-medical apparatus, articles of cutlery, gloves, mittens, leather garments and men’s suits etc.
Imports from Bosnia are flat rolled products of iron, printing machinery, conveyor belts, filtering machines and electro-medical apparatus etc.