Argentinian Ambassador Ivan Ivanissevich called for sector-specific measures and collective efforts to increase the bilateral trade volume which is less than the real potential. Exchanging views during his visit to Pakistan Textile Exporters Association (PTEA), Argentinean envoy urged that the business communities of both the countries must join hands and work together for improving trade ties by regularly participating in exhibitions, organizing trade delegations and other such trade promotional activities in both countries.
He said that 60 percent of Argentina's textile products are being imported and the remaining 40 percent are being produced locally; whereas the textile clothing imports have also witnessed an upsurge of 27 percent in 2016, which is an opportunity for Pakistani textile producers to benefit from the situation.
He said that although Pakistan has been exporting various products including textiles, clothing, sports and leather goods etc yet the exporters have to look for more possibilities of enhancing their share in the Argentinean market and they must also focus on branding which is very essential in all the fields. Commenting on Chairman PTEA's comments about investment opportunities in Pakistan, he opined that there are opportunities for Argentinean farmers to invest and cooperate in the agriculture sector as Pakistan's agriculture sector is not as developed when compared with Argentina.
"We can share our know-how on how to improve yield and also assist in improving the irrigation which would result in more yield and less water consumption," he said. "Our embassy was also looking at the possibility of sending Pakistani farmers to Argentina so that they could learn from Argentinian expertise and improve their skills," he added.
He stressed that the Argentinean Embassy and PTEA must maintain a working relationship in order to help identify different areas of cooperation which has to be done by keeping in mind the exact position in both countries.
Earlier, Chairman PTEA Ajmal Farooq in his welcome address, declared Argentina as one of the reliable supporter of Pakistan. Both the countries have been enjoying friendly and cordial relationship and understanding on all the major global and regional issues. He termed Argentina one of the major export destinations in South American region; however the volume of bilateral trade is less than a quarter of the real potential.
He said Argentinean companies and investors should explore Pakistan for investment and joint ventures. Pakistani textile exporters have been traditionally concentrating on European and American markets in the past and had built good reputation in Home textiles especially in bed linen, he said and added that it is the right time to re-design existing trade strategies to have a wider and pragmatic co-operation in trade and investment. While stressing the need to promote trade, commerce and economic co-operation between the two countries, he advocated steps to organize trade and investment delegations, B2B interactions and establishment of display centres.