Spanish companies invites for B2B, JVs with local businesses

ISLAMABAD, May 21 (APP):Secretary Commerce, Sardar Ahmad Nawaz Sukhera on Tuesday invited Spanish companies to visit Pakistan, and hold business to business meetings with Pakistani counterparts and also to setup joint ventures in Pakistan.

There are huge opportunities for Spanish investors to take advantage of the Pakistani market as well as of the Chinese market after the China-Pakistan Free Trade Agreement (FTA) Phase-II, Secretary Commerce said this in called on meeting to the Ambassador of Span to Pakistan, Manuel Durán Giménez-Rico here.

Spanish Ambassador welcomed the suggestion and assured that such B2B interaction between both business communities would be encouraged, said a press release issued by Ministry of Commerce here.

Secretary Commerce thanked the Spanish Ambassador for Spain’s continued support to Pakistan in acquiring and maintaining European Union’s, Generalized System of Preferences (GSP- Plus) status.

He also highlighted that prior to GSP Plus status, the bilateral trade between the two countries was US$ 851 million which has now crossed the one billion mark and currently stands at US$ 1.18 billion.
Pakistan’s exports have increased from US$ 707 million in 2013-14 to US$ 965 million in 2017-18, he said.

He said that similarly, our imports from Spain have also jumped from US$ 144 million to US$ 215 million.

While expressing satisfaction over the consistent rise in bilateral trade, the Spanish Ambassador assured that Spain would continue to support Pakistan in retaining GSP Plus status and enhancing bilateral trade.