Pakistan and Thailand’s Bilateral Trade has Great Potential, says ICCI
Published on: December 3, 2023.
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A delegation from the Islamabad Chamber of Commerce and Industry (ICCI) recently visited Thailand to explore business opportunities between the two countries. Led by ICCI President Ahsan Zafar Bakhtawari, the delegation represented various sectors, including pharmaceuticals, textiles, construction, edible oil, hospitality, and more.
During the visit, President Ahsan Zafar Bakhtawari highlighted the immense potential for bilateral trade between Pakistan and Thailand. He emphasized the need to exploit these opportunities for the benefit of both economies. Currently, the trade volume between the two countries is relatively low, but there are countless untapped opportunities for growth and expansion.
Thailand is a major exporter of electronics, automobiles, and machinery, while Pakistan boasts a market of over 240 million consumers, as well as abundant natural resources such as cotton, rice, and textiles. President Bakhtawari suggested that both countries can complement each other in many areas, particularly in agriculture, textiles, and energy sectors. He also mentioned Thailand’s expertise in renewable energy and the potential for cooperation in meeting Pakistan’s growing energy needs.
The aim of the ICCI delegation’s visit to Thailand was to interact with Thai counterparts and explore new areas of cooperation to unlock new business opportunities for a more prosperous future. President Bakhtawari also briefed the Thai counterparts about investment potential in various sectors of Pakistan’s economy and invited them to visit Pakistan for exploring possibilities of joint ventures and investment.
The office bearers of the Thai Chamber of Commerce and Thai-Pakistan Business Council warmly welcomed the ICCI delegation and expressed their full cooperation in promoting business linkages between the private sectors of both countries. They stressed the importance of increased trade and investment between Thailand and Pakistan and encouraged frequent exchange of trade delegations to identify new areas of improvement in business and investment relations. With supportive policies and incentives from both sides, the business relationship is expected to flourish in the years ahead.
The visit of the ICCI delegation to Thailand holds great promise for forging strong business partnerships between the two countries. By working together, Pakistan and Thailand can tap into their economic potential and achieve mutual prosperity. The delegation included members such as Ameer Hamza, Ch. Javed Iqbal, Ch. Muhammad Ali, Shahbaz Majeed Sheikh, Raja Muhammad Imtiaz, Faizan Shehzad, Akhtar Hussain, Saif ur Rehman Khan, Nasir Mehmood Chaudhry, and Malik Mohsin Khalid.
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