The acting president of Karachi Chamber of Commerce and Industry (KCCI), Abrar Ahmed, has urged the Karachi-based diplomats, particularly those of developed world, to encourage entrepreneurs in their respective countries so that they should come forward and invest in Pakistan in a big way.
Speaking at KCCI Iftar dinner for Karachi based diplomats on Wednesday, he stress the need for developing more co-operation and co-ordination between consulates and KCCI in order to close the information gap and help promote bilateral and multilateral relations.
He said that the trade promotion efforts could also be intensified through exchange of delegations and individual businessmen, holding of single-country exhibitions and exchange of commercial literature.
He said that this also calls for liberal facilities of issuing visas to Pakistani businessmen.
Abrar said that the products of the developing countries like Pakistan must be provided more access in the markets of developed countries, so that their economies could flourish and contribute towards addressing the twin problems of poverty and unemployment.
He said that the country's economy has shown resilience as well as macro-economic stability. The growth rate in GDP has been within the vicinity of 6 percent. The export has surpassed the target of $12 billion and the foreign exchange reserves have also depicted sustainability of being around 12 billion dollars.
He said that a most redeeming feature of Pakistan's economy has been that the large manufacturing sector has shown a remarkable growth of over 17 percent.
KCCI acting chief said that the law and order situation in Karachi has now become quite conducive for business and investment, barring a few cases of target killing.
He said that the period after dismantling the multi-fibre agreement (MFA) and enforcement of full WTO regime on January 1, 2005, the world trading system would witness significant changes.
Meanwhile, the collapse of WTO negotiation at Cancun, particularly on the core issues of tariff rationalisation and subsidies on agricultural products have already added to the hardships of developing countries.
However, in this context , it is reassuring that the outcome of general council meeting of WTO , held in Geneva in July 2004 , has improved the changes of successful negotiations and closing the Doha Round, he added.
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