FPCCI VP seeks raise in trade with Belarus

KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Vice President Fehmida Jamali said we welcomed the first visit of the Prime Minister of Pakistan to Belarus which clearly reflects that Pakistan foreign policy is moving on the upwards and looking forward to increase trade with Belarus under Preferential Trade agreement (PTA).

Pakistan and Belarus have a unique significance for each other and exchange delegates of the business fraternity would further strengthen the friendship bond. She said: “We have built the right foundation for our further partnership in order to increase the trade between the two countries multifold in the next few years.”

Fehmida emphasized the need to establish economically feasible air and sea routes for swift delivery of cargo. As Belarus is a land-locked country; therefore, the establishment of air-link is necessary for the export of perishable items from Pakistan that has great demand in Belarus.

“Pakistan not only provide cheap labour, but also offer great incentives for investment. Pakistan is also a gateway to the Middle East and a larger market for industrial goods. she invited the Belarusian investors to benefit from the incentives provided by the government in the Special Economic Zones.

It may be recalled here that Pakistan exported $15.23 billion worth of items to Belarus in 2014, 36% of which was rice, 9.27% light pure woven cotton, 10.03% styrene polymers, 7.43% edible preparations, 4.48% leather apparel and 4% citrus. Pakistan’s imports from Belarus stood at $42.65 billion, which mainly consisted of tractors (62.04%), artificial filament yarn (13.01%) and rubber tires (8.06%). Pakistan intends to correct this trade balance in its favour by exporting more value added items to Belarus. Tariff rationalisation for this purpose was also sought during the bilateral meetings and JEC.