Czech companies urged to explore trade opportunities in Pakistan

ISLAMABAD: Lauding the expertise of the Czech Republic in the engineering and auto sectors, Adviser to Prime Minister on Commerce Abdul Razak Dawood has urged the Czech companies to make investments in the special economic zones of Pakistan in order to earn better returns.

The Czech-Pakistan Inter-Parliamentary Friendship Group called on Adviser to Prime Minister on Commerce Abdul Razak Dawood on Tuesday to discuss issues pertaining to bilateral trade and investment, according to a statement issued by the Ministry of Commerce.

The delegation head on the occasion called for more interactions on bilateral trade in order to establish long-term economic ties between Pakistan and the Czech Republic.

He further stressed collaborations on areas of mutual interests, particularly in the trade and industry-related projects.

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He invited the relevant Pakistani officials to visit the Czech Republic so that untapped potential of bilateral investment could be explored for mutual economic benefit. “This, in return, will create job opportunities in Pakistan as the Czech Republic is deficient in the labour force.”

He said prominent Czech companies are interested to invest in different projects related to the IT and energy sectors of Pakistan.

Adviser to PM Razaq Dawood said that the government has taken various effective steps to improve the trade procedures by establishing trade facilitation centres. He informed the delegation about the enormous technology-related investment opportunities in the textile sector, as “the manufacturers are still using old methods, which are eroding their competitiveness”.

He apprised the delegation that the special economic zones (SEZs) provide incentives to investors by allowing duty-free import of machinery, besides tax holidays for ten years.

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