The Embassy of Ukraine in Pakistan has conferred the presidency of the newly formed Pak-Ukraine Friendship Club (PUFC) upon Captain Abdul Rasheed Abro, a leading businessman and chairman of the standing committee on ports and shipping of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
The platform has been conceived in line with the directions of the government of Ukraine, which are being conveyed for implementation by allowing formation of Pak-Ukraine Friendship Club with full support of the Embassy of Ukraine in Pakistan.
The objective of establishment of the Club is to bring the businessmen of both sides close to each other for advocating with their respective governments needful trade facilitation through exploitation of all the tools not limited to but including fiscal policy, trade policy and bilateral agreements as few of the identified areas which help in creating a competitive environment for performing trade between both the countries.
Pakistan is importing its requirements up to the level of $40 billion in which Ukraine has very little share of about $300 million which arithmetically works out to be less than one percent of the share in total imports of Pakistan from all destinations. Similarly, the export produce of Pakistan to Ukraine in terms of dollars is less than $50 million which again is a very insignificant import figure for Ukranie which levels up to $60 billion of import from all destinations.
Pakistan's share in textile is about 80 percent of total exports from Pakistan to Ukranie, which establishes a base to expand in the given situation when the cost erosion of textile and clothing is losing its market share in the traditional destinations which have remained focused upon without any diversification of destinations.
Ukraine has a history of trade with Pakistan compounded by transfer of technology since the initiation of metallurgical plant in Karachi. Pakistan steel mill houses more than 60 percent equipment from Ukranie and Ukranian experts have trained Pakistanis in different fields from chemistry to mechanical and electrical which has generated human capital to serve the engineering industry in Pakistan.
Ukraine is a classic example of a country which offers trade with transfer of technology such as the development of Al-Khalid tanks in Pakistan in which Ukraine shares the equipments and has also transferred technology. Abro said that the trade profile of Ukranie suggests that Pakistan can target the HS codes of domestic produce which is needed by Ukraine and which are, and could be produced, by Pakistan to improve export performance.
Some of the products which PUFC could identify are pharmaceutical products, marine products, tobacco, ceramic products, furniture, prefabricated buildings, glass and glassware, cement, citrus fruit, melons, stones articles, precious stones, metals, vegetable, fruit and food preparations, etc. Enger M A Jabbar has been conferred the position of advisor to PUFC as desired by the Ambassador of Ukraine in Islamabad.
Other office-bearers include: Chief Patron Dr S.Waqar Ali Asad, senior vice-president Saud Mehmood, Vice-President Trade Anjum Nisar, Secretary General Anjum Rizvi, Younis Khamisani, Nadeem Khalid, Zahid Saeed and Shehzad.
Talking to Business Recorder, Engr Jabbar said that Pakistan Steel Mills is improving the coke oven batteries with the technical services of Ukraine and the past also confirms the satisfactory utilisation of equipment and services imported from Ukraine.
He said that Pakistan's export profile to Ukraine is limited to a few HS codes under chapter 52, 68, 42, 90, 25, 63 which relate to textile, articles of stone, articles of apparel of leather, instruments and appliances used in medical sciences, portland cement and fabrics of cotton. "These products have very limited export value of about $48 million in 2008 but with diversification, compounded by support ingredients by government we could add this destination," he said.
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