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Chile for boosting trade relations with Pakistan February 14, 2012
Meeting at ICCI
 
Pakistan and Chile have great potential of trading and investment in many sectors, which are needed to be exploited through greater co-operation between the two countries.

Chilean Director of Asia-Pacific, Ambassador José Miguel de la Cruz made these remarks in a meeting with Yassar Sakhi Butt, President, Islamabad Chamber of Commerce and Industry (ICCI). He said that Chambers of Commerce and Industry could play an important role in building trade relations between the entrepreneurs of both the countries.

He said that Chile has received foreign investment of $80 billion in the last year and opening its various sectors for foreign investors. On contrary, Chile has also signed free trade agreements with 60 countries to tap in further opportunities of business with rest of the world, he added.

Chilean Director of Asia-Pacific highlighted the expertise, technical strength and experience in the field of mining and said that joint ventures could be initiated in this sector which would accelerate mining activities in under-explored areas of Pakistan. He invited business community to visit Chile and establish joint ventures in areas of mutual interest for realizing the full potential of trade.

Speaking on the occasion, Yassar Sakhi Butt said that Pakistan is a peaceful nation and regretted on the role of international media that portrays a very negative image about Pakistan, resulting foreign buyers and investors show reluctance to do business with us. He said that Pakistan offers lucrative investment opportunities in mining, energy, oil & gas, agriculture, infrastructure development, construction and in many other sectors of its economy.

ICCI President said Chilean investors should take advantage of these opportunities and by investing in Pakistan, they cannot only cater to the needs of a rapidly growing domestic market but could also earn good profits by exporting surplus products around the world.

Yassar Sakhi Butt termed the annual bilateral trade between Chile and Pakistan was very low which is around $800million and underlined the need to further improve it. He said that exchange of business delegations could be better option for exploring areas of common interest.