Pakistan should focus on Asia to boost trade

Asia

ISLAMABAD: Next century is the century of Asia and Pakistan should give priority focus on the huge markets for promoting trade and exports.

 

Shaban Khalid, president of the Islamabad Chamber of Commerce and Industry (ICCI) stated this, while addressing a two-day international workshop on “Doing Business with China” on Wednesday.

 

The ICCI in collaboration with Comsats Institute of Information Technology, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Tsinghua University organised the workshop to facilitate enhanced business between the two countries.

 

Shaban Khalid said Pakistani entrepreneurs need to reorient their focus on West against East and balance their approach based on the future potential and prospects for business in East.

 

“For too long, we have been focusing on West for trade but keeping in view the emerging markets and huge business potential in Asia, we have to reassess our approach and focus on areas, which are closer to us and are offering us immense scope for trade.”

 

He said the government should take immediate measures to address unnecessary bureaucratic hurdles, corruption, lack of good governance, energy and all other issues to facilitate promotion of investment and business activities.

 

Such hurdles are holding back several potential foreign investors from investing in Pakistan, despite good potential of high returns in the country, he said, adding that in this age of competition, time is money for any business and quick and easy facilitation measures are needed to attract more investment and promotion of business.

 

The ICCI president termed Pakistan-China economic corridor a historic long-term project of cooperation between the two countries and expressed the hope that its materialisation will open up the underdeveloped areas of Pakistan to a new era of economic development and prosperity by connecting the two countries through a network of highways and railways.

Source: The NEWS

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