Ric Smith, the Australian Special Envoy to Pakistan and Afghanistan, visited the Overseas Investors' Chamber of Commerce and Industry (OICCI) to review business relationship between Australia and Pakistan and to gauge the overall economic and investment environment in the country.
The delegation included Tim George-Australian High Commissioner to Pakistan, Ms Nicola Rosenblum-First Secretary and Jon Merril-Assistant Secretary, Afghanistan and Pakistan. The meeting was attended by members of the Managing Committee of OICCI, Asif Jooma, Asif Saad, Mohammad Zubair and the Secretary General, M. Abdul Aleem.
Secretary General updated the delegation on the current state of the economy, especially the perspective of foreign investors and talked about the significant role of OICCI in creating a conducive business environment. He said that OICCI works hand-in-hand with the Government of Pakistan (GoP) to improve the business and investment landscape and assists the GoP in timely removal of impediments to FDI and economic growth.
Ric Smith appreciated the overall investment climate in Pakistan and added that based on his extensive experience, focus on promoting regional trade and contacts with the business community is going to help in promoting economies of countries in the South Asian region. He assured his support to assist Pakistan in promoting a positive image to attract additional investment and trade. He stressed on the need to market Pakistan's positives aggressively and appreciated efforts made by platforms such as the OICCI in this regard.
Meanwhile, Richard C Smith and Tim George, High Commissioner of Australia, visited the Karachi Stock Exchange on Friday, along with Ms Nicola Rosenblum, First Secretary, and Tahir Mahmood, Team Leader, Agribusiness and FMCG, Australian Trade Commission.
They were welcomed by Muneer Kamal, Chairman of KSE, and Nadeem Naqvi, Managing Director of KSE. The two sides discussed issues of mutual interest and co-operation in attracting investment into Pakistan. Muneer highlighted the fact that across the political spectrum there was consensus regarding promoting the private sector and encouraging foreign direct and portfolio investment in Pakistan.
Nadeem pointed out the positive impact of food commodity prices run-up on rural incomes in Pakistan and how that was translating into enhanced opportunities for agribusiness and FMCGs. Smith showed keen interest in the role the stock exchange played in broader economic context and encouraged the KSE management to have a dialogue with the Australian Stock Exchange.-PR
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