Spanish investors invited to explore Pakistani market

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ISLAMABAD: Commerce Secretary Sardar Ahmad Nawaz Sukhera on Tuesday invited the Spanish investors to visit Pakistan and hold business-to-business meetings with their Pakistani counterparts.

In a meeting with Ambassador of Spain to Pakistan Manuel Durán Giménez-Rico in Islamabad, the commerce secretary said that there are numerous opportunities for Spanish investors if they explore the Pakistani market, adding that they can also penetrate into the Chinese market following the signing of China-Pakistan Free Trade Agreement (FTA) Phase-II.

The Spanish ambassador welcomed the suggestion and said that such B2B interaction between both business communities would be encouraged.

The commerce secretary thanked the Spanish envoy for his country’s continued support to Pakistan in acquiring and maintaining the European Union’s Generalized System of Preferences (GSP- Plus) status.

He also highlighted that prior to GSP Plus status, the bilateral trade between the two countries was $851 million, which has now crossed the $1 billion mark and currently stands at $1.18 billion.

“Pakistan’s exports have increased from $707 million in 2013-14 to $965 million in 2017-18,” he noted. “Similarly, our imports from Spain also jumped from $144 million to $215 million.”

Expressing satisfaction over the consistent rise in bilateral trade, the Spanish envoy assured that Spain would continue to support Pakistan in retaining its GSP Plus status.

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