It is a great honour and pleasure for me to extend my views on the auspicious occasions of Poland - the 214th anniversary of the proclamation of May 3 constitution - the national day of Poland, Poland's 1st anniversary of EU membership and the 60th anniversary on May 9th of victory in World W II (VE Day). I appreciate the struggle made by the Polish people for the sovereignty of their country. On this occasion, I extend my warm regards and best wished for Poland & Polish peoples. Pakistan is a developing country.
During the period (2000-2005), all the macroeconomic indicators of the economy have touched at more than satisfactorily level. This level was achieved due to structural economic reforms of the present Government of Pakistan, practical macroeconomic policies and financial discipline that had transformed Pakistan in to a fast growing economic country. All the international financial agencies have also been appraised to achieving these targets. The real GDP, at factor cost, grew by 6.4% during current fiscal year. Large scale manufacturing sector grew 17.1%.
These growth rates achieved is a result of internal & foreign investments have which been registered during last 4 to 5 years shows Pakistan's investment friendly policies. The total direct foreign investments US $798.0 million recorded during 2002-03, which is 100% more than the previous year. This growth showed that Pakistan's investment policies are in favour of foreign investment. I expects, the direct foreign investment would be registered US $1.5 billion in the country during the next year.
Pakistan's economy has registered on the path of sustainable growth. Financial and structural reforms of Pakistan had enhanced the role of the private sector. These achievements restored the confidence of both domestic and international investors, it is, therefore, now, up to the business communities of both the countries to take advantages of the opportunities that are offered by Pakistan & Poland.
Furthermore, Pakistan is an investment friendly country. It has a great potential especially for foreign investment in each & every sector of economy. I feel confident that the investment climate has bottomed out that Pakistan is well positioned to live up to its reputation as the New Business Frontier of Asia in the new millennium. Pakistan's investment policy generally recognised as on the most favourable in the region, has long characterised by steady moves to liberalisation, deregulation & privatisation. The policy direction has been consistent, market-led, and business friendly. The business opportunities are manifold: our domestic market is growing and we offer access to the tremendous market potential of the land locked economies of Central Asia. Our labour force is will trained and diligent; industries with strong potential for investment include Textile, Oil & Gas, Food Processing, IT, Engineering Industries, Tourism, Mineral Based Industries, Onyx and Granite Quarrying and processing, etc.
It is my firm opinion that both the countries have similarities in terms of business opportunities, foreign investment policies & expertise in their respective field. Pakistan can import refined copper, nitrogenous & phosphate fertilisers, sulphur, hard coal & brown coal and sulphuric acid from Poland.
At present trade relationship between two countries need to be more strengthened. Unfortunately, our potential in developing economics and trade relations has not fully explored and used. Pakistan has huge natural resources and a skilled entrepreneurs & talented people. It is my firm opinion that Pakistan-Poland Business Forum shall further explore more areas of bilateral ties in trade, economics & human resources between the two countries.
At present, Pakistan's imports with Poland stood US $34 million & Poland's imports with Pakistan stood US $65 million. I agree this Cupertino in trade & economics of both the countries is not significant but this relation also shows a great potential of opportunities between the two countries. Further, I assure, this co-operation shall be further strengthened & enhanced within few years through Pakistan-Poland Business Forum.
Poland and Pakistan both have privileged by nature & their location. Pakistan offers outlets for Afghanistan, the countries of Central Asia and approaches to Middle East and China. Polish products and services can import not only to Pakistan, but also via Pakistani businessmen/ exporter to neighbouring countries. Likewise, Poland is located in the center of Europe. Pakistani businessmen and industrialist has an opportunity to introduce their products through Poland to European union. This type of trade ties shall benefit the entrepreneurs of both the countries.
I confident that the regular contacts and co-operation in all fields between Pakistan and Poland will move forward rapidly. It is my firm opinion that Poland will be able to co-operate with Pakistan in power-generation, oil, gas and coal extraction, sugar production and scientific research, deliveries of electric power generators, earth moving machinery, agriculture machinery including tractors, machine devices and services for mining. Poland can also assist Pakistan in procurement & transfer of technologies in food processing, deep freezes, condensed and powder milk products & power generation.
It is our firm believe that we will work together with the assistance & guidance of His Excellency Bogdan Marczewski, Ambassador of the Republic of Poland & Mr Ireneusz Makles, the Consul General of the Republic of Poland, Karachi to further boost up the bilateral trade & investment in both the countries especially in Pakistan.
As Chairman Pakistan-Poland Business Forum I wish to extend greetings and best wishes to Polish government and Polish people on the occasion of the national day of Poland. Pakistan-Poland Business Ties Zindabad
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