FPCCI Call May 2014

Pakistan attached great importance to enhance its trade and economic relations with Philippines as an important country of ASEAN regional block. Huge potential for expansion in bilateral trade and economic relations between Pakistan and Philippine should be successfully tapped. This was stated by Mr. Zakaria Usman, President FPCCI in a meeting with H.E. Domingo D. Lucenario, Ambassador who visited Federation House along with the Commercial Attaché and Economic Diplomacy Officer. The meeting was very important and fruit full during which several measures were discussed for enhancement of bilateral trade and economic relations through increase in people to people contacts. The meeting was attended by Senior Vice President Shaukat Ahmed, Vice Presidents Ismail Suttar, Khurram Sayeed and the Secretary General of FPCCI and other prominent businessmen.

Zakaria Usman further said that frequent interaction between the private sectors of both the countries, will help to identify new avenues of trade and economic. Pakistan has great potential for the export of halal food products to Philippines and we should work on it. He further said that the business communities of the two sides should join hands for joint ventures as well as FPCCI and Philippine national Chamber must interact with each other to achieve the ultimate objectives of enhancing bilateral trade volume. He stressed on need to activate framework of agreements on trade and economic ties.

The Philippine Ambassador said that Philippine have such a long relation with Pakistan but volume of trade is not significant and not depicting the true potential of the two countries despite the fact that Pakistan is a huge market for Philippine products. He further said that efforts should be made to accelerate the trade and economic relations between both the countries as per their true trade potential. He informed that a Philippine trade delegation will visit Pakistan to explore different sectors for trade and investment. He requested the President FPCCI for the facilitation and arrangement of their interaction with Pakistani counterparts. He said that Philippine is open for business; everyone can bid and win the opportunity.

During the meeting Khurram Sayeed, Vice President suggested measures for development and enhancement of trade and economic relations between the two countries. He stressed on the establishing of Joint Business Council between FPCCI and the national Chamber of Philippine and participation in the trade exhibitions on reciprocal basis. He suggested that the visit of Philippine delegation would be better in the month of October, 2014 on the occasion of Expo Pakistan at Karachi. He also invited them to participate in Expo Pakistan 2014 for which FPCCI will facilitate them for coordination with TDAP. Khurram Sayeed further said that FPCCI is planning a trade delegation to Philippine sometime in August/September for which the Ambassador expressed his gratitude and ensure his full support and coordination to make the visit successful in terms of business. He also informed that MOU between both the countries would also be considered during the visit.

M. A. Lodhi Secretary General