The ambassador of Czech Republic, Pavol Sepelak has said Czech Republic has huge business opportunities for Pakistani businessmen in power, textile, pharmaceutical, leather and construction sectors and Czech businessmen are ready to initiate joint ventures with their Pakistani counterparts for the mutual benefit of both the countries.
He was speaking at the Lahore Chamber of Commerce and Industry (LCCI) here on Monday. Honorary Consul of Czech Republic Kamal Monnoo and Third Secretary (Political and Commercial) Tomas Danhel were also present on the occasion. The Ambassador said that some Czech companies were already investing in the construction of two power plants in Balloki and Muridke while others were investing in gas and agriculture field.
Czech Republic is also constructing a bio-fertilisers factory. "Pakistan already has access to European markets and during Czech EU Presidency. We outlined new comprehensive package of measures and incentives to gradually build up our trade relationship and boost and diversify further the exports of Pakistan. We are also exploring options available under EU preferential access schemes such as Free Trade Agreement. The EU is actually running programme of technical assistance called TRTA (Trade Related Technical Assistance) whose aim is to strengthen the export capacity of Pakistani companies," he said.
He said that there was a need to work together in order to identify possible areas of cooperation. He said a number of potential investors from Czech Republic were planning to visit Pakistan to have first-hand knowledge about the available business opportunities.
Speaking on the occasion, the LCCI President Zafar Iqbal Chaudhry has said the current level of trade between Pakistan and Czech Republic calls for more concrete steps from both sides and foremost among them was the exchange of information.
He said there was a huge potential of trade between Czech Republic and Pakistan provided both the countries pay attention towards marketing. Frequent exchange of business delegations and holding of single country exhibitions could be helpful. He said Pakistan could supply products like surgical instruments, sports goods, fresh fruits and vegetables, carpets, handicrafts, rice, fish and its preparations, besides textiles and leather products.
The investment made by Czech Republic in medical equipment, pharmaceuticals and textiles in Pakistan would not only cater to the demand of Pakistan and Czech Republic but would cater to the demands of Central Asian States, Gulf countries, and other regional countries, EU and USA.
The LCCI chief said that Pakistan's major exports to Czech Republic include leather and textile products but these exports constitute a petty fraction of Czech's total imports of these commodities. For instance, whereas, Czech Republic's total imports of leather products from the world in 2005 amounted to $176.1 million, Pakistan's share in these imports was only $3.0 million ie 1.7 percent.
Similarly, textile imports from Pakistan accounted for only 2.1 percent of Czech Republic's total imports of textile products from the world. Conversely, Pakistan's major imports from Czech Republic include machinery, paper, paperboard and electrical and electronic equipment. These too are a very small segment of Pakistan's imports of these commodities. Czech Republic's share in Pakistan's total imports of machinery, paper and paperboard and electrical and electronic machinery in 2005 was only 0.08, 1.0 and 0.12 percent respectively.