Bosnia and Herzegovina has a huge potential in a number of sectors including construction, energy, agriculture, infrastructure, textiles, tourism and fresh fruits, thus the Pakistani businessmen could avail the opportunities by initiating joint ventures with their counterparts. The Ambassador of Bosnia and Herzegovina Armin Limo stated this while speaking at a meeting at the Lahore Chamber of Commerce and Industry on Saturday.
Honorary Consul of Indonesia Jamil A Naz also spoke on the occasion and threw light on the issues coming in the way of two-way trade. The Ambassador said that Bosnia & Herzegovina for being located in the heart of Europe has its 43 percent of the total territory most useful for modern industry. He invited the Pakistani businessmen to visit the country for having first hand knowledge about the available opportunities and initiating joint ventures with their Bosnian counterparts. He said that Bosnia and Herzegovina has large capacities in the wooden industry related to production of goods for foreign markets. He said that Bosnia & Herzegovina is quite rich in the metal industry and the opportunities are available in steel and aluminium sectors.
Speaking on the occasion, the LCCI President Zafar Iqbal Chaudhry said that the existing trade relations between the two countries leave much to be desired at. He said that continuous engagements of the diplomatic missions with the business community of both the countries, exchange of business delegations, orientation to the products of each others countries and holding of single country exhibitions can be highly fruitful in enhancing trade between the two countries.
Exchange of information through web-sites, printed matter, cultural events and documentaries can also help to promote the bilateral socio-economic relations. Bosnia Herzegovina has a highly developed dairy and auto industry. Pakistani business community would like to share technology in these sectors through joint ventures.
Pakistan is the fifth largest producer of milk in the world and a big market for automobiles. Pakistan's Foreign Direct Investment policy is liberal that allows 100 percent repatriation of capital, dividends, profits and royalties, he added.