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Austria to double its trade with Pakistan: trade commissioner

Austria to double its trade with Pakistan: trade commissioner

LAHORE: Trade Commissioner of Austria Richard Bandera has said that he was putting all efforts to double Pak-Austria trade and some encouraging improvements had started emerging.

He was leading an Austrian business delegation to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Tuesday, while Bruno Mellacher, Leonhard Lucki, Ing. Rudolf Edlinger and Saleem Shamshi from Commercial Section of Austrian Embassy were part of the delegation.

Richard Bandera appreciated the role of FPCCI in trade promotion, asserting that the FPCCI and the Federation of Austrian Industries could mutually raise the opportunities of trade promotion. He also shared information related to Advantage Austria, which had approximately 110 offices in over 70 countries, providing a broad range of intelligence and business development services for both Austrian companies and their international business partners.

On this occasion, FPCCI Regional Chairman and Vice President Manzoor-ul-Haq Malik said that business community of Pakistan was always keen to develop strong bilateral trade relation with Austria.

“There are immense investment and joint venture opportunities in various sectors e.g. tourism, information technology, mines and minerals, dairy products and agriculture sector,” he said and added that the FPCCI had established Business Councils with 140 countries and Austria Business Council was one of them which drew the attention towards Austria as an economic partner.

He said Pakistan’s major exports to Austria had traditionally been cotton and related products, as well as leather products, carpets, clothing and sporting equipment. Austria imports machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products, natural gas; foodstuffs and exports machinery and equipment, paper and paperboard, metal goods, chemicals, iron and steel, textiles, foodstuffs.

Malik said that trade delegations would not only enhance trade and economic ties between the two countries but also proved a source of getting essence of investment opportunities.

All Pakistan Business Forum (APBF) President Ibrahim Qureshi said that Pakistan was a big consumer market with lots of trade opportunities. “As we know that Pakistan has achieved international tax index and has improved ease of doing business, therefore, joint collaboration in research should be made. Austrian tremendous high technology can be shifted to Pakistan for value addition,” he viewed.

The delegation was comprised of members from Austrian Wood Industry products, Concrete Shuttering panels, beams, to single and multiple ply panels, glulam products and pallet blocks, briquettes, pellets and bio power, Food sector, especially processed cheese products, Drinking water and sewage treatment plants.