Pakistan and Ukraine have great potential of trading and investment in many sectors, which are needed to be exploited through greater co-operation between the two countries. Volodymyr Lakomov, Ambassador of Ukraine in Pakistan, made these remarks in a meeting with Yassar Sakhi Butt, President, Islamabad Chamber of Commerce and Industry (ICCI) here on Monday.
He said that Ukraine is rich in mineral, energy resources and mechanical products like airplanes, turbines, locomotives and tractors. He said that Ukraine is exporting many products to Pakistan comprising flat and rolled products of iron, oil seeds, potassium fertilisers, urea, bars and rods and other steel articles.
He said that Ukrainian businessmen have also signed various MoUs with Pakistani counterparts to promote co-operation between the business communities of Ukraine and Pakistan in the fields of trade, investment, technologies and services. The Ambassador said that exports from Pakistan to Ukraine have shown a substantial increase and currently Ukraine has emerged as one of the biggest market for Pakistani kinnows. He said that Pakistan should develop new varieties of fruit that meet the demand of other international markets as well.
Yassar Sakhi Butt, said on the occasion that the annual bilateral trade between the two countries was very low which is around $180 million and that needs to further improve. He highlighted that tremendous investment opportunities were available in the power, oil & gas, mining, pharmaceutical, textile and agriculture sector.
He said that marble and granite were fast growing sectors in Pakistan with huge investment potential. ICCI President invited Ukrainian counterparts to Pakistan for investment and transfer of technology to take advantage of these opportunities.
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