FAISALABAD. Free Trade Agreement (FTA) between Pakistan and Thailand is in the final stage and efforts are being made to include maximum textile related lines in it to make this bold initiative favorable for Pakistan in general and for Faisalabad in particular.
Addressing a dinner hosted by Pakistani ambassador in Thailand Mr. Asim Iftikhar Ahmed in honor of the FCCI (Faisalabad Chamber of Commerce & Industry) Trade Delegation. He said that the widening gap between import and export is a matter of concern not only for the government but also for the business community of Pakistan. He told that Thailand is a potential market for most of Pakistani products but our exports mainly restricted to the textile sector. He urged upon the Pakistani exporters to focus on exporting nontraditional products so that the share of Pakistan in bilateral trade between Pakistan and Thailand could be enhanced. He assured maximum facilitation to the Pakistani exporters who are interested in exploring new opportunities that may emerged after the formal inking of FTA.
Earlier Mr. Shabbir Hussian Chawla President FCCI and Head of Trade Delegation said that Pakistan and Thailand are enjoying good and bilateral relations since 1951. He said that trade between the two countries is progressing but still is not up to the mark. He further told that in 2017 trade between Pakistan and Thailand was 1422.17 million dollars. Pakistani exports to Thailand were only 142.85 million dollars as against the imports of 1279.32 million dollar from Thailand. He said that implementation on FTA which is about to finalize, bilateral trade between Pakistan and Thailand is expected to double.
Continuing, Mr. Shabbir Hussian Chawla said that Pakistani economy is expecting strong GDP growth of 5.6%. The improved economic and security conditions demand that international investors should also take benefits of trade and investment opportunities as Pakistan is enjoying a unique strategic position in the region. He said that China Pakistan Economic Corridor (CPEC) is yet another important milestone where Thai investors could also get maximum benefits by investing a logistic and infrastructure projects. President FCCI said that in order to give quantum jump to exports, FCCI is regularly organizing trade delegation to various potential markets. The objective of visit to Thailand is to personally witness and explores the business opportunities in this country.
Mr. Chawla also thanked the cooperation of Pakistan ambassador Mr. Asim Iftikhar Ahmed and Commercial Consular Ghulam Nabi Kamboh for arranging their meetings with the potential investors of Thailand.
Later he also presented FCCI shield to Mr. Asim Iftikhar Pakistani ambassador in Thailand.