'New strategy should be finalised to initiate JVs in various fields': Spanish delegates visit LCCI

President of Lahore Chamber of Commerce and Industry Sheikh Muhammad Arshad has said Spain and Pakistan have a lot to offer to each other's businessmen, and should work out a new strategy to begin joint ventures in the areas of common interest. "Being an emerging economy, Pakistan has lot of opportunities for foreign investors in the fields of energy, leather, textile, tourism, food products, infrastructure, agro-based products, livestock and various other sectors of economy," he said this in a speech to a five-member Spanish delegation including Suprio Bose, Faiz Ahmed, Naveed Ahmed, Miquel Calpe and Jaume Mir at the Lahore Chamber, here on Tuesday.
LCCI Vice President Nasir Saeed also made a speech. LCCI chief said, "The trade and economic relations between the two countries have remained insignificant despite the fact that there is a lot of potential exists in the two countries to bring the two-way trade to the new height. There is a great scope of co-operation in various industrial sectors between Spain and Pakistan. The possibilities of joint ventures in the areas like pharmaceuticals; electrical appliances, food items, engineering goods, agro-based products, mineral and mineral-based products and power generation sectors are very bright. Spain has the technology to construct dams besides being the biggest user of renewable sources of energy. Both the countries could join hands for transfer of technology in these sectors."
"Spain is famous for its well-developed tourism. Pakistan has abundant historical as well as natural sights, which have a strong potential of earning foreign exchange if properly developed," he added. He said that Pakistan would like to share Spanish expertise in this field and welcome joint ventures with businessmen of Spain. Pakistan is an agro-based economy but unfortunately it does not have technology to preserve excess agriculture produce and the professional expertise of Spain agro-based industrial sector will be welcomed. He said significance of frequent exchange of trade delegations and mutual discussions cannot be overemphasised for creating more opportunities between business communities of the two countries.
LCCI Vice President Saeed then called for more interaction between the business communities of the two countries to increase the volume of two-way trade. He said, "It is necessary that the business houses, like LCCI and chambers in Spain also play their due role. Trade fairs, single country exhibitions as well as exclusive country weeks can be arranged on reciprocal basis to achieve this goal."
Spainish delegates said on the occasion, "There is a dire need of institutionalised relations between the two countries and the Chambers of Commerce in Spain and Pakistan could play a very vital role for the promotion of trade relations. Because of the rapid economic growth in Pakistan, Spanish SME sector is diverting its attention towards it and it is high time that both the countries should take advantage from each other's expertise." They also urged LCCI office-bearers to bring a business delegation to Spain so the Pakistani business community could assess the situation well.