LAHORE
Inviting Lahore’s businessmen, Ambassador of Mexico Jose Alfonso Zegbe has asked Lahore Chamber of Commerce and Industry (LCCI) President to arrange a trade delegation to Mexico for exploring trade & investment opportunities that may set the ground for joint ventures.
Speaking at LCCI here, on Friday, the Mexican ambassador pointed out that Mexico could be a tangible and lucrative market for Pakistani products and therefore Pakistani entrepreneurs must explore this huge untapped destination.
The ambassador said Mexican entrepreneurs were interested to know about Pakistan’s business procedures for setting up new businesses and potential areas of investment in Pakistan. He said Mexican economy is improving and diversifying. It is a good time that Pakistani businessmen should explore Mexico for business opportunities.
He said that sustainable relations can be developed through removing the issues of double taxation and intellectual property rights etc. He said that the Mexican embassy will facilitate the businessmen who want to do business with Mexico.
He said that Mexico and Pakistan have good prospects for improving mutual trade & economic ties, therefore, businessmen of the both countries should take initiatives for tapping all areas of mutual cooperation.
The LCCI President Abdul Basit highlighted that in 2016, Pakistan’s total exports were worth USD 20.5 billion and out of that Mexico’s share was only 0.5 per cent. Both countries should make effort to diversify bilateral trade as there is immense potential between two countries. The LCCI Senior Vice President Amjad Ali Jawa announced to lead a trade delegation to Mexico in 2018 to explore trade and investment opportunities.
Basit said that the businessmen from both the countries should be encouraged to take more initiatives for exploiting the untapped potential of each other’s markets. Pakistan and Mexico have good prospects for improving trade but the bilateral trade figures do not reflect it.
He said that Pakistan major exports to Mexico include traditional textiles, rice, cotton and surgical instruments whereas Pakistan’s major imports from Mexico include plastic, industrial tubes and automotive parts.
Furthermore Halal Food, food processing, pharmaceutical, auto-parts are promising sectors for mutual cooperation between the two countries. Abdul Basit further added that Pakistan is enriched with great natural resources. It is a good time that Mexican entrepreneurs and businessmen should identify business processes and also explores ideas for setting up new businesses. We can help them out in making the potential areas of investment in Pakistan.
“We really welcome the decision of Mexican government for formally setting up their embassy in Pakistan. This step is going to be essential in further improving our relations with each other. The role of Honorary Consul would definitely be very crucial in this regard,” the LCCI President concluded.
Furthermore, Amjad Ali Jawa announced to lead a delegation to Mexico in 2018 saying that Mexican untraditional market can be advantageous for Pakistani pharmaceutical and other sectors.
