ISLAMABAD, Oct 5 (APP): Pakistan Belarus Investment Forum Wednesday held to promote trade activities between the two countries on the occasion of the visit of Belarusian President to Pakistan.
The event was attended by a significant number of private sector businessmen representing Agriculture, Dairy, Tractor, Pharma, Textile, Fertilizer, Automotive, machinery, footwear and Chemicals sectors.
The Belarus delegation was led by Vladimir Semashko, Deputy Prime Minister of the Republic of Belarus alongwith 54 businessmen representing major Belarusian companies in the sectors of Machine building industry, Automotive components, Chemical Industry, Petrochemicals and Footwear etc.
During the forum B2B meetings were arranged which provided a win win opportunity to Pakistani and Belarusian enterprises and organizations to establish business contacts and explore the possibilities of joint ventures, promote investment & trade activities in Pakistan.
The Chairman BoI, Dr. Miftah Ismail while inaugurating the event, reiterated the friendly relations between the two countries due to farsighted vision and a penchant for diplomacy of our two leaders President Lukashenko and Prime Minister of Pakistan Muhammad Nawaz Sharif.
He said that Pakistan is blessed with enviable natural and human resource of 200 million people with 100 million of middle class making Pakistan fifth largest in the world.
He said that since the Prime Minister has taken over the stewardship of our nation, our economy has been going on the right path and making progress.
From interest rates to budget deficits, and from inflation rates to per capita GDP almost every single economic indicator is moving in the right direction and these efforts are now being recognized both domestically and internationally.
Similarly the recent spate of international investments in Pakistan, specifically an investment of about Euro 500 million by a Dutch company in the dairy sector of Pakistan and the investment of over US $ 250 million by a Turkish company.
Pakistan has recently launched a new auto policy with lucrative incentives / facilities for auto industry.
Later business companies from the two countries signed seven Memorandum of Understandings including agreement between OJSC “BELAZ” Management Company of Holding “BELAZ HOLDING” and ‘Sindh Engro Coal Mining Company’, contract between “Belshina” Joint Stock Company and ‘Shahzad Trade Links’ (15 million. EURO), contract between OJSC “Naftan” and company
“SJI Chemiplast LTD”, contract between OJSC “Naftan” and company “Zuras Global FZC” and MoU between The Balarussian State Concern for Oil and Chemistry ‘Belneftekhim’.
This forum provided an opportunity to the businessmen of both the countries to discuss trade and economic cooperation as well as the ways to expand cooperation and implement joint projects in the most promising areas.
Pakistani companies are interested in establishing business ties with Belarusian companies in agriculture machinery like tractors, chemical, textile sectors, and industry (cotton, fabric and materials sales), mechanical engineering.