The European Union (EU) has launched the second phase of Euro 41 million Asia Invest Programme (AIP), which is aimed at promoting business between Asia and Europe, especially through arranging match-making leading to joint ventures between companies in the same sector.
One of the activities under the Asia-Invest II is to arrange match-making between medium scale businesses-to-business encounters organised in the EU or Asia, around one or several sectors involving at least 30 hosting companies and 20 visiting companies in one or more sectors.
The programme would provide assistance for small-scale trade missions and flexible business encounters to raise the EU awareness about opportunities in less prosperous countries in Asia and promote their market potential.
The target countries for such assistance are Pakistan, Afghanistan, Bangladesh, Bhutan, Cambodia, East Timor, Laos, Nepal and Indonesia.
The programme will organise a small number of EU companies to meet the small and medium enterprises (SMEs) from eligible Asian countries. It will also arrange visits to the EU of eligible Asian companies with a view to promoting market potential for trade.
The other objectives of the Asia Invest II (2003-2007) is to explore opportunities for partnership between the SMEs of the two regions, to enhance Asian private sector development and its internationalisation to reinforce institutional capacity.
It also focuses on business dialogue and net working of business intermediaries in an effort to enhance the export capabilities and Foreign Direct Investment (FDI) of the less prosperous countries in Asia.
The Senior Vice-President of Pakistan-France Business Alliance (PFBA), Shabbir Ahmed, told Business Recorder that various trade forums such as Pakistan-Italy, Pakistan-France, Pakistan-German and Pakistan-Belgium had decided to take advantage of the programme for development of private sector businesses in the country.
Pakistan-Belgium Business Forum President Mohammad Rajpar has requested the members of various forums to intimate their interest in availing of the facilities provided by the EU to find match-making partners in Europe in their respective businesses.
He said that the members could select and identify their sector of investment either in trade purposes - imports and exports. The possible sectors, which can be identified, include textile, engineering, synthetic yarn, leather, surgical goods, paper, and allied products, and chemicals.
The members have been advised to send their request on a prescribed proforma at the earliest, which would be sent to the EU authorities.
Initially, 30 companies in various sectors would be selected for matchmaking with their counterparts in the EU.
The expenses to a certain extent of travelling, boarding and lodging would be borne by the host EU company.