The Deputy High Commissioner of South Africa, Cassim Peer has stressed the need for joint efforts so that trade and economic relations between Pakistan and South Africa could be built on sustainable basis.
While talking to the Lahore Chamber of Commerce and Industry (LCCI) President Shahzad Ali Malik here on Tuesday, he said that Pakistan has a tremendous potential for South African businessmen but they could not make any inroads because of unavailability of proper trade related information.
The South African delegates said that their country is keen to build partnership with Pakistan on the basis of South-South co-operation policy of the country and would like to increase interaction between the two governments and business communities. South-South co-operation is corner stone of foreign policy of South Africa, they said.
They also called steps to reactivate the memorandum of understanding signed between the Lahore Chamber of Commerce and Industry and Minara Chamber of Commerce two years ago. They further said that both Pakistan and South Africa could increase economic co-operation in Mining, Steel, Auto, Chemical and Plastics, Engineering and Technology.
Speaking on the occasion, LCCI President Shahzad Ali Malik said that there is a great potential for expansion of trade between the two countries. South Africa can boost its exports to Pakistan of items like chemicals, gold, diamonds, platinum, metals and minerals, machinery and raw material of steel products to Pakistan.
Similarly besides increasing export of traditional products, like surgical equipment, rice, sports goods to South Africa, Pakistan can supply engineering goods, sanitary goods, machine tools, auto-parts etc to South Africa. South Africa is the main shopping centre of seven neighbouring countries. Even textile products' export to South Africa can increase because of greater demand in South African market.
The LCCI President said that there also exists a great scope for joint ventures between the two countries. Pakistani industrialists can set up textile units in South Africa to cater to the African market. There are ample opportunities of investment for Pakistani businessmen to invest in information technology, mining, agriculture and other sectors also when Chinese and Indian companies are capturing South African market.
The LCCI Executive Committee Member Dr Shahid Raza urged the African delegates to consider joint ventures in Pakistan in the engineering sector, which can prove highly lucrative for them. He said that exchange of trade delegations between the two countries and holding of single country exhibitions in each other's countries can prove to be an effective strategy for increasing our bilateral economic relations. He also called for creating a strong linkage between the Chambers of the two countries for this purpose and for exchange of trade related information.
The major exports of Pakistan to South Africa are leather, bed and table linen, carpets, fish and molasses, while Pakistan's imports from South Africa are iron and steel products, man-made staples, optical and photographic equipment, wood pulp and paper, organic chemicals and alum, he maintained. Ebrahim Patel, former President Minara Chamber of Commerce and Industry. LCCI Executive Committee Members Dr Shahid Raza, Yousaf Shah, Khawaja Khawar Rashid, Sheikh Mohammad Ayub and Tahir M Sheikh were also present on the occasion.
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