Enhancement of trade between Pakistan and Australia stressed

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LAHORE, June 30 (APP): Pakistan High Commissioner in Australia
Naela Chauhan Friday said, Pakistani Consulate would share available business opportunities and would pave way for joint ventures between
the private sectors of the two countries.
She stated this in a meeting with Lahore Chamber of Commerce &
Industry (LCCI) President Abdul Basit at Canberra.
According to a press release issued by LCCI here, they agreed
to further cement trade and economic relations between Pakistan
and Australia.
There was also a consensus to adopt new methodology to expedite
the volume of two-way trade.
Pakistan High Commissioner said, private sector would have to play
an important role to enhance existing trade volume that does not match the potential of the two countries.
She appreciated the LCCI efforts to promote external trade of
Pakistan and promised to extend beset cooperation to promote
bilateral trade.
LCCI President Abdul Basit said, Pakistani Missions abroad should
establish display centers for Pakistani products and cultural centers
to promote Pakistani culture. “These measures would help Pakistani
products to get due share in the global market and would also attract foreigners towards Pakistan,” he added.
Basit said, the size of global market for Halal products is
estimated dollar 3 trillion. Pakistan is a natural base for Halal
products. If we could acquire 10% share in its trade then we can
easily enhance our exports by more than two times.
He said, Australia and Pakistan had been steady trading
partners. “We are concerned about the comparatively low level
of Pakistan’s exports to Australia which results in unfavourable
trade balance,” the LCCI President added and said that the current
level of exports to Australia did not match the actual export
potential of Pakistan.
He said, trade diplomacy was another important tool that
greatly helped in paving ways between two countries to
increase the bilateral trade relations.