Pakistan for the first time participated in the Commonwealth Business Forum organised by the Commonwealth Business Council and a special session was organised on “Pakistan’s Potential: Opportunities for trade and investment”. Tariq Puri, Chief Executive, Trade Development Authority of Pakistan (TDAP), chaired the special session. Mian Mansha, Chairman of Nishat Group and Razzak Dawood, Chairman of Descon Group were also the panelists on that session.
In his key note presentation, Puri highlighted the trade potential between Pakistan and other member states of Commonwealth. He stated that our exports to Commonwealth countries are $3.63 billion while our imports are $ 7 billion. However, the 173 products which Pakistan exports to Commonwealth countries, has the market share of 0.3 per cent of range of products which constitutes 55 per cent of Commonwealth nation’s total imports worth $ 1.18 trillion. He highlighted that Pakistan could increase its share by adding value in its supply chain and also to emphasised upon the need for product diversification.
He informed the participants, representing the leading entrepreneurs and investors from all over the world, that the World Bank’s ‘Ease of Doing Business Index’ has ranked Pakistan as number 1 in South Asia. Discussing the Agriculture sector; Mr. Puri highlighted the facts that Pakistan is the: 2nd largest Buffalo Meat producer; 2nd largest buffalo milk producer; 3rd largest cottonseed producer; 3rd largest chili producer; 4th largest goat meat producer; 5th largest mango producer; 7th largest wheat producer, but has not been able to optimise its strengths for capturing a larger share in the global processed food market.
He also emphasised upon the fact that Pakistan has the 5th largest coal reserves in the world and it is also blessed with an abundance of other natural resources. He said that Pakistan needs foreign investors to bring the requisite technology through mutually beneficial entrepreneurial arrangements and invited them to invest in the potential projects. Mian Mansha highlighted the fact that national and multinational companies working in Pakistan are satisfied with the promising environment being provided by the Government and that the rate of return on investment and the profitability ratio are substantial.
Mr Razzak Dawood also added that policies of the Government of Pakistan are encouraging and that the private the sector is thriving. They both displayed their confidence that opening of trade between India and Pakistan will indeed attract more investment in the region, especially for Pakistan.
