Lahore, August 04, 2016 (PPI-OT):The Lahore Chamber of Commerce and Industry has urged the private sector to establish close contacts in Central Asian States, Africa and South America to enhance exports while government should support export-oriented industry through resolving their issues like undue delay in refund claims, energy shortage and high input cost etc.
In a statement issued here, the LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said that at a time when regional countries are taking big strides towards economic prosperity and gaining the status of global economic players, decline in the exports of Pakistan is a matter of concern and needed to be resolved within the shortest possible time.
The LCCI office-bearers said that dependence on limited products and a few countries for exports is one of the major reasons of sluggish and discouraging exports. They said that Pakistan’s main export partners are United States (13.6 percent of the total exports), China (11 percent), United Arab Emirates (8.5 percent) and Saudi Arabia (8.5 percent). They said that our reliance for exports on a few countries is unremarkably high which has forced our exports to remain limited.
They said that Argentina, Brazil, Peru, Venezuela and Chile do not require introduction in Pakistan if discussed under the subjects of sports, geography and culture etc. But in economic scenario, they carry a very inadequate eminence among us. They said that a very few Pakistanis know that the unblemished and strong economies of South America yearn for the attention of Pakistani investors to do business we cannot avail this unique opportunity.
The LCCI office-bearers said that government and private sector should recognize the importance of these regions and should gear up efforts to strengthen trade and economic ties. They said that bilateral discussions should be held between the diplomats and private sectors of these countries. They said that the trade relations with South America although already have been initiated but these must have to touch the core of available opportunities, which are still overlooked or minimally exercised.
They said that Pakistan have to focus other than the traditional partners to gain more economic benefits and to give boost to the national exports. They said that the upcoming global economic shift would be more advantageous for us if Pakistan extends its economic associations towards South America that is not a traditional trade destination for Pakistan merchandise. The LCCI office-bearers also urged the government to resolve the issues being faced by the export-oriented industry to increase the exports.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan