ICCI for harnessing Pak-Thailand untapped trade potential

Islamabad:A delegation of Islamabad Chamber of Commerce and Industry (ICCI) led by Ahsan Zafar Bakhtawari, President visited Thailand and held meetings with the office bearers of Thai Chamber of Commerce and Thai-Pakistan Business Council to explore the business opportunities between the two countries. The delegation was representing various sectors including pharmaceuticals, textiles, construction, edible oil, marble, light engineering, hospitality, retail sector, importers and exporters, says a press release.

Speaking on the occasion, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry said that Pakistan and Thailand have immense potential for bilateral trade, which should be exploited to achieve beneficial results for both economies. He said that the current trade volume between the two countries is relatively low, however, there are numerous opportunities for growth and expansion that remain untapped.

He said that both countries can complement each other in many areas as Thailand is a significant exporter of electronics, automobiles, and machinery while Pakistan is a huge market of over 240 million consumers with abundant natural resources like cotton, rice, and textiles. He said that agriculture, textiles, and energy sectors hold great potential for trade between Pakistan and Thailand, which should be taken benefit of. He said that Thailand has expertise in the renewable energy sector and it should cooperate with Pakistan in this sector to meet our growing energy needs. He said that the purpose of the visit of ICCI delegation to Thailand is to interact with Thai counterparts and explore new areas of mutual cooperation to unlock new business opportunities for a more prosperous future for their citizens. He also briefed the Thai counterparts about the investment potential in various sectors of Pakistan’s economy and invited them to visit Pakistan to explore possibilities of joint ventures and investment.

The Office Bearers of Thai Chamber of Commerce and Thai-Pakistan Business Council welcomed the ICCI delegation and assured their full cooperation to promote business linkages between the private sectors of Thailand and Pakistan to explore all untapped areas of mutual cooperation between the two countries. They said that Thailand and Pakistan can benefit from increased trade and investment, therefore, it is important for both countries to work together to encourage frequent exchange of trade delegations in order to identify new areas of improving business and investment relations. They said that with supportive policies and incentives from both sides, the business relationship between Pakistan and Thailand could flourish in the years ahead. They hoped that the visit of ICCI delegation to Thailand would lead to good business partnerships between the two countries.