ISLAMABAD
Spain and Pakistan have great potential to improve bilateral trade in many areas, which still remain untapped and businessmen of both countries should step up efforts to develop strong connectivity for promoting volume up to their real potential.
This was stated by Aitor Santiago Garin, Economic and Commercial Attaché of Spain Embassy, while interacting with the business community during his visit to Islamabad Chamber of Commerce & Industry, said a statement issued on Monday.
He said that the current bilateral trade volume between Spain and Pakistan is quite low with the bulk of Pakistan’s exports to Spain confined to textiles products. However, trade could be increased significantly by developing business linkages between the private sectors of both countries, he added.
He said that Pakistani fruits including mangoes have great potential for exports and Pakistani fruits exporters should focus on complying with the Sanitary and Phytosanitary (SPS) standards to capture EU market.
He said that Pakistan should develop easy trade dispute resolution mechanisms to attract more foreign investors. He said that Spain gives great importance to Pakistan and there is an equal opportunity for Pakistan to penetrate European trade markets.
He assured that the Spanish embassy would cooperate with ICCI in further increasing trade and economic relations between Spain and Pakistan.
Speaking at the occasion, ICCI President Sardar Yasir Ilyas Khan said that Pakistan can export many products at cost effective prices to Spain including mangoes, agro products, pharmaceuticals, sports goods, leather products, surgical instruments, and IT products, adding the Spanish importers should focus on Pakistan for imports.
He said that Spanish cooperation in the tourism sector could help Pakistan to promote its tourism industry. He said that Pakistan is an emerging market for business and investment, therefore, the Spanish companies should consider technology transfer to Pakistan and explore JVs in the country to produce value-added products.
He said that Pakistan can also provide outsourcing services to Spanish companies in IT and services sectors. He assured that ICCI would connect the Spanish companies with right counterparts in Pakistan for JVs and partnerships.
ICCI Senior Vice President Fatma Azim, VP Muhammad Aslam Khokhar and Muhammad Saeed Khan also gave many useful suggestions to further enhance trade relations between Pakistan and Spain. They said that ICCI will be in touch with the Spanish Embassy to increase the bilateral ties and bridge the gap between the business communities of both countries.
Both sides also discussed a wide range of areas to strengthen the trade ties between the two countries.
