LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Malik Tahir Javaid said on Monday that average trade around $70 million between Pakistan and Greece was not a healthy state of affairs.
Meagre trade between the two countries is well below the actual potential existing between the two countries, therefore, the private sector of the two countries should enhance their interaction to play a vital role in this regard.
He was talking to the President Greek-Pakistan CCI Maria Rubina G Markopoulou along with the LCCI Senior Vice President Khawaja Khawar Rashid and Vice President Zeshan Khalil.
Malik Tahir Javaid said though the balance of trade has traditionally been in favour of Pakistan but its volume is discouraging and called for strategic efforts.
He said that in 2016, the worth of Pakistan’s exports to Greece was $62 million against the imports amounting to $8 million. Greece comes at 12th place among the top exporting countries and at 22nd place among the top importing countries for Pakistan in European Union, he said. Malik Tahir said that to create a conducive atmosphere, private sector of the two countries must identify the areas that may create opportunities for greater trade. “We need to adopt modern and progressive marketing techniques with result-oriented follow-ups”, he added.
The LCCI President said that exchange of trade delegations could also help enhance the process of trade and investment related information and respective chambers of commerce can play the vital role in this connection. He said that relation building between our institutions can greatly contribute in exploiting the trade and investment potential between two countries.
Maria Rubina G Markopoulou said that communication gap must be bridged as it is one of the biggest reasons of low trade between the two countries. She said that exchange of trade delegations and time dissemination of trade and investment related information can help boost two-way trade.
Both the chambers also agreed to business information to develop sustainable business cooperation between their respective members.
LCCI and Greek-Pakistan CCI will arrange B2B meetings between delegations of their organisations in order to improve trade between Pakistan and Greece as well as explore opportunities of mutual collaboration.