The Nepalese Ambassador has stressed the need for improving Pak-Nepal economic relations and enumerated well-tailored measures to boost up existing trade figures that have no match to their respective potentials. The Ambassador, Bharat Raj Paudyal, was speaking at the Multan Chamber of Commerce and Industry (MCCI) and also gave a detailed presentation on available business opportunities in Nepal.
The MCCI President Fareed Mughis Sheikh , Mian Shafi Anis Sheikh Vice President Muhammad Tariq Khan , Former MCCI Presidents Khawaja Jalaluddin Roomi, Mian Iqbal Hassan Asrar Ahmed Khan Shahid Naseem Khokhar, Muhammad Khan Saddozai, Khawaja Muhammad Yousaf ,Khawaja Muhammad Usman gave their point of view on as to how the economic ties between the two countries could further be enhanced.
The Ambassador said that Nepal is a $22 billion economy and greatly values its relations with Pakistan that are based on mutual respect, mutual trust and shared perceptions on regional and international issues. He said that exchange of sector-specific trade delegations, single country exhibitions, dissemination of economic data and a proactive involvement of chambers of commerce in the two countries could do miracles as far as two way business in concerned.
He said that Nepal is ready to make special bilateral trading arrangements with Pakistan for the sake of economic well being of both the countries as Nepalese businessmen feel quite comfortable while dealing with their Pakistani counterparts. He said that the fast changing global scenario calls for innovative economic strategies therefore the businessmen in the two countries should join hands for a better tomorrow.
He said that at present the mutual trade ties between Pakistan and Nepal are negligible and the state of affairs asks for an increased frequency of reciprocal visits by the Pakistani and Nepalese business community. He said that two countries can exchange their experiences in tourism, agriculture and trade. The Ambassador urged the MCCI President to bring a delegation to Nepal for having first hand knowledge about the economic opportunities in Nepal as frequent visits are a way to expand business ties.
The MCCI President, Fareed Mughis Sheikh expressed his grief and sorrow on the April Earthquake which took the lives of 9000 people and great losses and said that Nepal has always been an important partner for Pakistan in the SAARC region. Both the countries enjoy friendly relations based on historical linkages and have common views and commitment to preserve regional peace and security. As far as mutual trade ties are concerned, both the sides need to do much more to know about each others' potential areas.
He said there should be more exchanges of delegations and people-to-people contacts on regular basis to add new impetus to and further invigorate existing cordial ties. He suggested that both the countries should appoint distributors of their respective famous brands in the two countries. He said, we need to focus on promotion of bilateral cooperation to ensure our continued partnership for achieving much needed progress and prosperity in our region and at the international level.
He also suggested joint endeavours for promoting cooperation in the fields of health, human resource development and agriculture and setting up joint ventures in textiles and pharmaceutical sectors. He said that considering the size of Nepalese economy, whose total trade in 2011 was just over US $2 billion, it would be fair to expect that both Pakistan and Nepal should create some opportunities of trade with each other. The exports to Nepal which have been way below $2 million still have great potential to grow.
In contrast to that the imports from Nepal followed upward trend which grew from US $0.84 million in 2009 to US $1.99 million in 2011. In that situation, both the sides need to make concerted efforts and ensure maximum and regular interaction among the business communities of Pakistan and Nepal.
Furthermore, he said, people to people contact, tourism links, exchange of business delegations, direct air link between Pakistan and Nepal and establishment of display centers in each other's countries can considerably upgrade the bilateral trade. MCCI Executive Committee Members Anila Iftikhar, Rabia Shehzad, Syed Iftikhar Ali Shah, Mirza Ali Ahmed,Rehman Nasim ,Khawaja Muhammad Farooq ,Khurram Javed Secretary General also spoke on the occasion.
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