KCCI Chief Urged Ambassador of Romania to Invest in Pakistan

Karachi Chamber of Commerce & Industry’s President Muhammad Haroon Agar urged Ambassador of Romania to invite Romanian investors to invest in Pakistan. Exchanging views with the Romanian Ambassador to Pakistan H.E. Emilian Ion he highlighted the real and true potential of Pakistan with all its strengths. He said that Romania is a seventh largest European Union Market and has enormous potential for Pakistani products especially in textiles.

There is an excellent opportunity for Pakistani entrepreneurs to collaborate in textile and leather sectors in Romania. Pakistan can supply cotton yarn and fabrics for processing and value addition in Romania. Pakistan has benefited a great deal from Romania in industrial equipment for cement factories, refinery, power equipment, agricultural equipment, transport means, machine tools. Romania has been importing textile goods, leather, rice, and other food products, confectionaries, pharmaceuticals, sports goods from Pakistan.

But the current level of overall bilateral trade is insignificant, he voiced. Similarly, Pakistan may constitute an access gateway for Romania to SAARC region and Central Asian Republics, he stated. Pakistan as a profitable destination for investors offers attractive packages to Romanian investors for increasing capital inflows just as it happened in the past through their comprehensive technical offers in oil-refining, cement factories, power equipment, food, metal and wood processing in machinery, agricultural machinery etc.

He appreciated the initiative of Pakistan-Romania Business Council constituted to facilitate the business persons of both countries under the patronage of Romanian Ambassador. He also invited Romanian Exhibitors through Ambassador to participate in KCCI annual “My-Karachi, Oasis of Harmony” Exhibition scheduled to be held in July 2013 which is a showcase and B2B & B2C platform wherein local and foreign exhibitors participate. He assured the Karachi Chamber’s best support and cooperation for match-making with their Pakistan counterparts, particularly KCCI members with Romanian businesspersons.

Ambassador of Romania to Pakistan H.E. Emilian Ion recognized the KCCI’s vital role as leading Chamber in the promotion of trade and industry and for socio-economic development of Pakistan. He said that Pakistan and Romania enjoy good political relations however, the bilateral trade volume needs to be enhanced as per existing trade potential. Romanian Exports to Pakistan in 2011 were $46 Million while the imports from Pakistan were $22 Million and total volume of trade in 2011 stood around $68 Million.

Top three Romanian exports to Pakistan were plants and products of plant, electrical devices and parts whereas as top three imports from Pakistan were textile products, livestock, plastic and rubber products. He was of the view that exchange of business delegations was imperative to explore bilateral trade prospects. The initiative to establish Pakistan-Romania Business Council was to bridge together the business communities of two countries and explore new avenues of commercial cooperation and organizing of single country exhibitions in respective countries, he informed.

Senior Vice President KCCI Shamim Firpo, Vice President Nasir Mehmood and Managing Committee Members and Chairman of Pakistan-Romania Business Council Sohail Shamim Firpo also participated in the meeting