Argentinian investors invited to exploit CPEC incentives

ISLAMABAD, Nov 8 (APP):Federal Minister for Commerce Syed Naveed Qamarhas has asked the Argentinian business community to take advantage of the incentives offered by the Pakistan government in Special Economic Zones (SEZs) under the China Pakistan Economic Corridor (CPEC).

The minister who is currently visiting Argentina visited Chamber of Commerce-Asia Pacific in Buenos Aires, Argentina, said a message received here on Tuesday.

The Minister invited the Chamber to send a business delegation to Pakistan to explore business opportunities in Pakistan and to meet with the relevant stakeholders.

He urged the Chamber and Argentine businessmen to avail the excellent opportunities of trade and investment which Pakistan offers.

The Minister was warmly welcomed at the Chamber by Dr. Luciano Ojea Quintana, the Vice President of the Chamber.

Martin Lococo, the Chief Executive Officer and Laura Miani, the Institutional Relations Officer in the Chamber also attended the meeting.

The Vice President expressed his deep appreciation for the visit and gave a brief overview of the Chamber and its contribution for promotion of trade and economic relations between Argentine and the nations of Asia and Pacific.

He explained the objectives as to foster commercial exchange and relationships between local businesses and the countries of Asia-Pacific – a region that has become the major market for Argentine products – and to bridge the cultural divide, particularly in connection with language, customs and commercial practices.

He particularly emphasized the strong and cordial relations between the Trade Mission of Pakistan and the Chamber and appreciated the efforts of the Mission in promoting business to business contacts between Pakistan and Argentina.

The Vice President informed the Minister that there is an exclusive Chapter in the Chamber dealing economic and trade relations with Pakistan.

The Minister expressed his gratitude for the warm welcome and stated that the current level of the bilateral trade between the two nations is not commensurate with the potential the two countries have.

He informed the Chamber that Pakistan has put in place an investor friendly regime with number of lucrative investment related incentives both fiscal and infrastructure with duty and tax exemption on import of plant and machinery in various sectors.

Regarding cooperation in agriculture sector and grain preservation, the Minister appreciated the proposal of procuring silo bags and grain preservation technology from Argentina given its expertise in the area.

The Minister also invited the Chamber to participate in Pakistan’s premier textile and fashion industry exhibition TEXPO-2022 scheduled from 26-28 May, 2023 in Karachi, Pakistan.

The two sides also expressed their deep desire to further strengthen and economic and cultural relations between the two countries.