MULTAN City News

Trade between Pakistan, Nepal negligible: envoy

From Our Correspondent

MULTAN: Nepalese Ambassador Bharat Raj Paudyal has called for improving economic relations between Pakistan and Nepal.

Addressing the Multan Chamber of Commerce and Industry here on Thursday, he said that Nepal was $22 billion economy and greatly valued its relations with Pakistan that were based on mutual respect and trust. He said that exchange of sector-specific trade delegations, single country exhibition, dissemination of economic data and a proactive involvement of chambers of commerce in the two countries could do miracles as far as two-way business was concerned. He said that Nepal was ready to make special bilateral trading arrangements with Pakistan as Nepalese businesspersons felt quite comfortable while dealing with their Pakistani counterparts. He said that the fast-changing global scenario called for innovative economic strategies and, therefore, the businessmen of the two countries should join hands for a better tomorrow.

At present, trade between Pakistan and Nepal was negligible and the state of affairs demanded steps to improve it, he added. He said that considering the size of Nepalese economy, whose total trade was just over $2 billion in 2011, it would be fair to expect that both Pakistan and Nepal should create some opportunities of trade with each other. The exports to Nepal, which had been way below $2 million, still had great potential to grow, he added. He said that direct air link between Pakistan and Nepal and establishment of display centres in each other’s countries could considerably increase the bilateral trade. The Nepalese envoy urged the MCCI president to bring the MCCI delegation to Nepal for having firsthand knowledge about economic opportunities in Nepal.

Speaking on the occasion, MCCI president Fareed Mughis Sheikh said that Nepal had always been an important partner for Pakistan in the region. Both the countries enjoyed friendly relations, he added. He said that there should be more exchanges of delegations and people-to-people contact on regular basis to further invigorate the cordial ties. He suggested that both countries should appoint distributors of their respective famous brands in the two countries.

MCCI vice-president Mian Shafi, MCCI Executive Committee members Aneela Iftikhar, Rabia Shahzad, Syed Iftikhar Ali Shah, Mirza Ali Ahmad, Rehman Nasim, Khawaja Muhammad Farooq and others also spoke on the occasion.