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Pakistan-Mexico has great potential to expand trade ties: Envoy Jose Alfonso Zegbe

Pakistan-Mexico has great potential to expand trade ties: Envoy Jose Alfonso Zegbe

LAHORE: Pakistan and Mexico have good prospects for improving mutual trade and economic ties therefore businessmen of the both countries should take initiatives for tapping all areas of mutual cooperation.

Ambassador of Mexico Jose Alfonso Zegbe has said this while speaking at the Lahore Chamber of Commerce & Industry. Director of Promexico for the Middle East Juan Cepeda, LCCI President Abdul Basit, Senior Vice President Amjad Ali Jawa, Vice President Muhammad Nasir Hameed Khan, former presidents Mian Anjum Nisar, Sohail Lashari, former Senior Vice President Malik Tahir Javed and Sultan Ali Lakhani also spoke on the occasion while Adnan Khalid Butt, Hassam Ali Asghar, Tahir Manzoor Chaudhry, Adnan Khalid Butt, Tariq Mahmood, Mian Muhammad Nawaz and Muhammad Arshad Chaudhry were present in the meeting.

The LCCI President Abdul Basit highlighted that in 2016, Pakistan’s total exports were worth $20.5 billion and out of that Mexico’s share was only 0.5%. Both countries should make effort to diversify bilateral trade as there is immense potential between the two countries. The LCCI Senior Vice President Amjad Ali Jawa announced to lead a trade delegation to Mexico in 2018 to explore trade and investment opportunities.

He said Mexican entrepreneurs are interested to know about Pakistan’s business procedures for setting up new businesses and potential areas of investment in Pakistan. He said Mexican economy is improving and diversifying. It is good time that Pakistani businessmen should explore Mexico for business opportunities. He said that sustainable relations can be developed through removing the issues of double taxation and Intellectual Property Rights etc.

Director of Promexico for the Middle East Juan Cepeda called for institutionalizing the channels to know more to each other. He said that Mexican embassy will ensure provision of trade fairs and exhibitions related information to the Pakistani businessmen.

He said that special economic zones and textile hubs are being established in Mexico. Mexico is gateway to the United States of America and Latin America. He informed the participants that Mexico has sent first consignment of Halal meet to Qatar and want to do work with Pakistan in this sector.

The LCCI President Abdul Basit said that Businessmen from both the countries should be encouraged to take more initiatives for exploiting the untapped potential of each other’s markets. Pakistan andMexico have good prospects for improving trade but the bilateral trade figures do not reflect it.

He said that Pakistan major exports to Mexico include traditional textiles, rice, cotton and surgical instruments whereas Pakistan’s major imports from Mexico include plastic, industrial tubes and automotive parts.

Furthermore Halal Food, food processing, pharmaceutical, auto-parts are promising sectors for mutual cooperation between the two countries. Abdul Basit Pakistan is enriched with great natural resources. It is a good time that Mexican entrepreneurs and businessmen should identify business processes and also explores ideas for setting up new businesses. We can help them out in marking the potential areas of investment in Pakistan.

“We really welcome the decision of Mexican government for formally setting up their embassy in Pakistan.”