Huge Opportunity For Pharmaceutical products in EU Market
\n Islamabad
\nA Parliamentary delegation of the European Union visited FPCCI Capital Office in Islamabad. The delegation comprises MEP Hervc Juvin, Identity & Democracy Group (France), Member of the Committee of International Trade (INTA) and Subcommittee on Security and Defence, MEP Ms. Virginie Joron, Member of the Committee on the Internal Market, Consumer Protection and Committee on Legal Affairs MEP Mr. Mick Wallace, Left Group (Ireland), Member of the Committee on Environment, Public Health and Food Safety and Subcommittee on Security and Defence, MEP Ms. Clare Daly, Left Group (Ireland), Member of the Committee on Civil Liberties, Justice and Home Affairs and Vice Chair-Delegation for relations with Afghanistan. and Ms. Roxana Cristea.
\nPakistan is gold but unfortunately, the victim of propaganda stated by Mr. Hervc Juvin, leader of the EU Parliamentary delegation. He said the GSP Plus scheme of the European Union for Pakistan will be ended this year while they have started favorable working on the further renewal of the scheme from January 2023 with diversification of potential sectors of Pakistan\u2019s economy.
\nMr. Irfan Iqbal Sheikh, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) said that EU \u2013 Pakistan relations have a strategic aspect that covers all the relevant areas including counterterrorism, trade, climate change and GSP Plus Scheme.
\nHe further said that GSP Plus status holds significant importance for Pakistan\u2019s economy as it has played a vital role in the expansion of multilateral trade. He quoted the statistics and informed that in 2021 Pakistan\u2019s total volume of trade with the EU was US$ 13.289 billion out of which our exports were US$ 7.63 billion which is 29.4% of our total exports and our trade balance with the EU is positive. However, the existing GSP Plus scheme is confined to the textile sector but it should be enhanced to other sectors also, he added.
\nHe highlighted various potential sectors including pharmaceutical, surgical, sports goods, agricultural sector, minerals and mines, and gems stone and said that Pakistan needs foreign investments under joint ventures in these sectors.
\nHe also highlighted the potential in the tourism sector of Pakistan and invited investors for investment. He further said that Pakistan is a gateway to the central and south Asian market, CPEC is very important for Pakistan and Gwadar is a gold mine of our country. He told that CPEC has special economic zones and we invite European investors to take benefit from this profitable investment in Pakistan
\nThe President of FPCCI further said that Pakistan has 51% women population and we are working on it to convert them into a real working force for the development of our country.
\nThe FPCCI supports businesspersons and in this regard 24 women\u2019s Chambers of Commerce and Industry in different parts of the country under its umbrella.
\nDuring the meeting, it was told that the EU member states are importing 90% of the pharmaceutical products from India and on the recommendation of the committee; we have to diversify our suppliers.
\nIt would be a good opportunity for Pakistan\u2019s Pharmaceutical sector to explore the EU market. President FPCCI ensured the delegation that in this regard he will lead a business delegation of Pharmaceutical companies to EU Countries very soon to tap this business opportunity.
\nThe meeting was also attended by President Rawalpindi Chamber Mr. Saqib Rafique, Sohail Altaf, former President RCCI and Mr. Hamza Sarosh, Senior Vice President at FPCCI Capital Office, Islamabad.
\nThe business leader of Rawalpindi Chamber of Commerce and former Vice President of FPCCI Sohail Altaf said that Pakistan also has good human resources and there is 70% youth population with excellent English conversant. During the Covid pandemic, Pakistan adopted good governance, controlled, and managed it very well which was appreciated by the whole world.
\nHe further said that during this pandemic era, the government had given various concessions to the Construction sector that links almost 40 other sectors but now all such concessions has been withdrawn due to the IMF program.<\/p>\n","protected":false},"excerpt":{"rendered":"
Huge Opportunity For Pharmaceutical products in EU Market Islamabad A Parliamentary delegation of the European Union visited FPCCI Capital Office in Islamabad. The delegation comprises MEP Hervc Juvin, Identity & Democracy Group (France), Member of the Committee of International Trade (INTA) and Subcommittee on Security and Defence, MEP Ms. Virginie Joron, Member of the Committee […]<\/p>\n","protected":false},"author":2,"featured_media":293842,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[545,11352,20,1714,9645],"class_list":{"0":"post-293826","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-gold","9":"tag-hervc-juvin","10":"tag-pakistan","11":"tag-propaganda","12":"tag-victim"},"yoast_head":"\n