Trade Ukraine interested to explore Pak energy sector Ukrainian envoy

Islamabad: Pakistan and Ukraine have great potential of trading and investment in many sectors, which are needed to be exploited through greater cooperation between the two countries.

Mr. Volodymyr Lakomov, Ambassador of Ukraine in Pakistan, made these remarks in a meeting with Mr.Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry ICCI.

He said that Ukraine, being a large European economy is rich in mineral, energy resources other products like airplanes, turbines, locomotives, tractors and tracks.

He said that Ukraine is exporting many products to Pakistan comprising flat and rolled products of iron, oil seeds, potassium fertilizers, urea, bars and rods and other steel articles.

He said that Ukrainian businessmen have also signed various MoUs with its Pakistani counterparts to promote cooperation between the business communities of Ukraine and Pakistan in the fields of trade, investment, technologies and services.

Ambassador of Ukraine said that Exports from Pakistan to Ukraine have shown a substantial increase and currently Ukraine has emerged as one of the biggest market for Pakistani kinnows.

He said that Ukraine and Pakistan have enormous potential for energy cooperation, particularly in the field of hydropower as well as Ukraine is also interested to exploit Thar Coal Reserves which would help Pakistan to overcome its energy crisis.

Mr.Zafar Bakhtawari, President ICCI talking to Ambassador said that the annual bilateral trade between Ukraine and Pakistan was $300million that is quite encouraging.

He also proposed that Pakistan and Ukraine should establish direct air link between Islamabad and Kiev that would be a key to promote mutual relations between two countries.

ICCI President has shown interest in signing MoU with Kiev chamber of Commerce and Industry aimed at promoting trade and commerce between the two countries, so that in long run both the chambers could exchange information on economic and commercial matters and identify possible joint venture partners in their respective countries.

He said that ICCI is arranging exchange of business delegations with different countries while in May, 2013 ICCI will also have plan to take a business delegation to Ukraine as frequent exchange of business delegations would further strengthen bilateral relations between two countries.

Mr.Bakhtawari said that Ukraine is a new emerging market in Europe, there Pakistani business community is very keen to develop business relations with Ukrainian business community.

He also stressed for liberalization of visa policies for Pakistani businessmen that would deepen mutually beneficial relations between Pakistan and Ukraine.