KARACHI, May 02 (APP): The Deputy Head of Mission Embassy of Mongolia Lkhanaajav Munkhtushig, Thursday, expressed keenness to expand trade and investment ties with the business community of Karachi through maximum exchange of business delegations between the two countries.
The Mongolian envoy, speaking at a meeting during his visit to Karachi Chamber of Commerce and Industry (KCCI) said that exchange of delegations will help understanding each other and jointly explore new horizons of trade and investment cooperation, said a statement issued here.
“We look forward to more engagements between the business people from Pakistan and Mongolia so that potential products for enhancing trade could be identified,” he said and stressed on collective efforts from both the sides to enhance bilateral trade between Pakistan and Mongolia.
“As Mongolia imports mostly from China, Pakistan’s business community can also look into the possibility of enhancing exports to Mongolia by offering products at cheaper rates that’s why, we are here to identify such products which can be offered to Mongolia”, he added.
Mongolia, being a landlocked country, uses a Chinese port for its trade, and China Pakistan Economic Corridor (CPEC) connectivity with China along with other corridors in the region would certainly improve Mongolia’s connectivity with the rest of the world, he anticipated.
“In this scenario, we can offer middle and long-term opportunities to Pakistan which is very strong in textiles, pharmaceuticals and other sectors”, he said, adding that in order to achieve tangible results, it was really important to have more exchanges of trade delegations.
Mongolian envoy pointed out that although Mongolia was a small country with a population of just 3.5 million yet it recorded a strong economic growth of 5.6 % which, according to World Bank, was estimated to improve further to 6.2 percent this year.
Mongolia’s total trade, last year, stood at US$24 billion, of which US$15 billion represent exports whereas goods worth $9 billion were imported while China is the largest trading partner of Mongolia, he added.
Earlier, Senior Vice President KCCI Altaf A. Ghaffar, extended full support to Mongolian envoy for all the efforts being made to improve trade and investment ties between business communities of the two countries.
Pakistan also holds potential for Mongolian business community in mines and mineral sector which still remains largely untapped, he pointed out adding that, the two friendly countries could also look into the possibilities of collaborating in other potential sectors.
Consul General of Mongolia Nadeem Khalid, Vice President KCCI Tanveer Ahmed Barry and KCCI Managing Committee Members attended the meeting.
