SIALKOT, Nov 21 (APP): Ambassador of Algeria in Pakistan Dr. Brahim Romani has said that his country was keen to promote trade and economic ties with Pakistan as Pakistan was a huge market for business relations.
He stated this during an important meeting with the Sialkot business community at the Sialkot Chamber of Commerce and Industry (SCCI) here today.
SCCI President Abdul Ghafoor Malik, SVP Wahub Jahangir, VP Amer Majeed Sheikh and business people were also present on the occasion.
The ambassador urged Sialkot exporters to come forward and tap and explore the untapped international trade markets of Algeria to promote bilateral trade between Algeria and Pakistan.
He said that Pakistan was one of the first countries to recognize Algeria and both countries enjoyed good relations. He said that the ties between Algeria and Pakistan spanned over several decades as they had flourished with the passage of time.
“However, it is the need of the hour that both countries focus on improving trade and economic relations to achieve more beneficial results for their economies,” he added.
He said that Algeria is very keen to establish stronger business-to-business contacts between the two countries besides strengthening bilateral trade relations. “Pakistan has great potential to enhance trade relations with the African region and its close cooperation with Algeria would help it increase its outreach to Africa.”
He said that an international trade fair was held in Algeria in June 2023 and Pakistani companies participated in it to improve business linkages with Algerian counterparts and explore new avenues of trade promotion with Algeria. He assured that his embassy would facilitate Pakistani entrepreneurs in visas for visiting Algeria to explore business opportunities.
Sialkot Chamber of Commerce and Industry (SCCI) President Abdul Ghafoor Malik said that Sialkot had promoted an SME culture and was an ideal hub for business partnerships and collaborations in various industries.
“Our city’s export industry proudly crafts top-notch products, including but not limited to surgical instruments, sports gear, leather products, gloves, safety equipment, musical instruments, and cutlery, to military uniforms. I mention with a great sense of satisfaction that new product lines are added to the Sialkot export sector while the conventional are upgraded and modernized in line with top international standards.
Not only have we excelled in business, but our commitment to social development and people’s welfare is exceptional. We’ve undertaken many mega projects that have positively impacted our society. These pioneering initiatives include the establishment of Sialkot International Airport, the Sialkot Dry Port Trust, the Sialkot City Development Program, the Sialkot Export Processing Zone, the Sialkot Business & Commerce Centre, the Sialkot Tannery Zone, Child Social Development Organization and AIRSIAL. A project of Sialkot Medical City is also shapping up,” he added.
The SCCI president said, “I wish to stress how crucial it is to further build upon the existing friendship and untap the potential of trade that exists between the two countries by promoting economic and people-to-people linkages.
” Malik said that as per the data made available by the State Bank of Pakistan, the total bilateral trade of goods and services between the two countries in the financial year July 2022 to June 2023 was just around $11.7 million. “We believe that bilateral trade has immense potential for growth considering the fact that Algeria is a huge import market of $35.91 billion as per UN COMTRADE,” he added.