South African High Commissioner D. J. Mavimebela has said that measures are afoot to increase bilateral trade between Pakistan and South Africa, as the existing figures do not match with both countries potential.
He expressed these views while speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday, said a spokesman for the LCCI. LCCI President Mian Shafqat Ali, Vice President Aftab Ahmad Vohra, former LCCI president Mian Misbahur Rehman and newly appointed Honorary Consul of South Africa in Lahore Syed Shahid Ali were also present on the occasion.
Mavimebela said that despite the fact that the two-way trade between Pakistan and South Africa are registering increase, but there are a quite a few sectors that are still untapped.
He said the high commission in Pakistan had evolved a strategy and by the end of the year, the situation would take a positive turn by creating a win-win situation for both countries.
Talking about the dissemination of trade-related information and exchange of trade delegations, he said the high commission was in contact with chambers of commerce in South Africa and very soon a high-powered business delegation would be visiting Pakistan for having first-hand knowledge about the opportunities available here. He urged the LCCI chief to arrange an LCCI delegation to South Africa, as exchange of trade delegations has become an effective tool to promote businesses in the backdrop of globalisation.
He said the South African government is also encouraging foreign investment; and it is high time that the Pakistani business community should take advantage of the business-friendly policies of the South African government.
Speaking on the occasion, LCCI President Mian Shafqat Ali said that South Africa, at present, is one of the most sophisticated and promising emerging markets in the world.
"The unique combination of a highly developed first-world economic infrastructure and a huge emerging market economy has given rise to a strong entrepreneurial and dynamic investment environment," he added.
He said there is an enormous potential for Pakistani high quality products in textiles, sports goods, carpets and handicrafts. South Africa could boost their exports to Pakistan of items like chemicals. Similarly, Pakistan could supply to South Africa a number of items, including engineering goods, sanitary goods, machine tools, auto-parts, surgical instruments, vegetables and rice.
Moreover, there also exists a great scope for joint ventures.
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