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Pakistani traders should avail business opportunities in Ukraine

Pakistani traders should avail business opportunities in Ukraine

LAHORE: Various economic sectors of Ukraine have huge scope for Pakistani merchandise therefore Pakistani businessmen should avail these opportunities through joint ventures.

This was stated by Ambassador-designate to Ukraine Major General ® Zahid Mubashir Sheikh while speaking at the Lahore Chamber of Commerce and Industry. The LCCI Acting President Khawaja Shahzad Nasir, Vice President Fahim ur Rehman Sehgal and Executive Committee Members also spoke on the occasion.

Ambassador said that both Pakistan and Ukraine have very strong credentials to give new strengthens to their respective economies but lack of information about each other’s potentials is coming in the way and there is a need to bridge this gap. He said that the Pakistan embassy in Ukraine would extend every possible cooperation for single country exhibition and for exchange of business delegations.

Speaking on the occasion, the LCCI Acting President Khawaja Shahzad Nasir stressed the need for cooperation in energy, steel and technology. He said that Ukrainian engineering sector is another area where Pakistan can benefit from the processes and consequent product development.

He said that Pakistani businesses were specifically eyeing the prospects of transfer of technology. Likewise, opportunities exist in cooperation between the heavy industry establishments in Ukraine and the emerging engineering sector in Pakistan in the form of joint ventures with third country market in view.

He said that Ukraine is known for manufacturing top of the line turbines in the world. These turbines are available in wide range. Pakistan is facing acute energy crisis and we are in pursuit of utilizing all the available options of generating electricity ranging from hydro, thermal and gas so that can be one area of economic cooperation.

In the domain of natural resources, Ukraine is home to metals and alloys which are being utilized in the engineering and other sectors of the manufacturing activity. There is a need to explore that area for a mutually beneficial matchmaking. He also called for devising ways to update the information crucial for trade and investment.

He said that Pakistan’s banking sector has progressed a lot and can help Ukraine in developing banking network at a wider scale as the business community is very much concerned for the lack of proper banking system in Ukraine.

He said that Pakistan and Ukraine have yet to fully exploit the mutually available potential of trade and investment.

Pakistan exports woven cotton fabrics, rice, woven fabric of synthetic staple, citrus fruit, sports goods, bed & kitchen linen, article of cutlery and electro-medical apparatus etc. to Ukraine.

Similarly Pakistan imports fertilizers, dried vegetables, semi-finished products of iron, bars & rods of iron or non-alloy steel and coal etc.