Belgium vows to make big investment in Pakistan

Shares
Belgium vows to make big investment in Pakistan

ISLAMABAD: Ambassador of Belgium to Pakistan Philippe Bronchain has said that his country was interested in making investments in Pakistan, as it was a potential country for business and investment activities.

The Belgian ambassador said during while addressing the business community at the Islamabad Chamber of Commerce & Industry (ICCI) on Tuesday.

Philippe Bronchain discussed various prospects to enhance bilateral trade, investment and joint ventures between Belgium and Pakistan. He said that he would play a constructive role in building a strong image of Pakistan in his country.

In his address, Embassy of Belgium Trade Commissioner Abid Husain said that Pakistan was mostly exporting textiles products and some raw materials to Belgium. However, he added, Pakistan needed to invest in technology in order to produce value-added products that would increase its footprint in foreign markets.

“This will also help Pakistan to fully capitalise on the GSP-Plus concession offered by the EU.”

He said that Pakistani diaspora in Belgium could play a leading role in upscaling bilateral trade ties between the two countries.

Speaking at the occasion, ICCI President Muhammad Ahmed Waheed said that Belgium was one of Pakistan’s important trading partners within the European Union, however, the bilateral trade volume between the two countries was still below $1 billion despite the fact that both countries have the potential to promote trade in many areas.

He briefed the Belgium ambassador about the potential opportunities for JVs and investment in Pakistan.