A Swedish Clean Technology and women entrepreneurs’ delegation will visit Pakistan soon to help strengthen bilateral relations between the two countries, while Sweden would extend every possible help to Pakistan in winning GSP plus status from the European Union. Ambassador of Sweden in Pakistan Lars-Hjalmar Wide was speaking at Lahore Chamber of Commerce and Industry (LCCI) on Monday. LCCI President Irfan Qaiser Sheikh, Senior Vice President Kashif Younis Mehera and former President Mian Muzaffar Ali also spoke on the occasion. Mr Per Malmer, Chairman M/s Jarnamalmer Sweden, was also present in the meeting.
The Swedish ambassador said Sweden was presently doing 80 per cent of its trade with regional countries in the European Union, therefore, Pakistan should adopt the same methodology because it has a marvelous potential in all the sectors.
He said Sweden, being an important member of the European Union has a huge untapped potential and the Pakistani businessmen should come forward to avail these opportunities. There is a dire need to develop a close liaison between private sectors of Pakistan and Sweden for exchange of information and market research, he underscored.
He said both the countries need to identify more tradable products to enhance their mutual trade. Pakistan is known around the globe for its textile products, sports goods, surgical instruments, fresh fruits and vegetables, rice, carpets, leather made ups, fish and fish preparations, handicrafts, artificial jewelry, fancy furniture, footwear, hosiery, garments, and so many other consumable items, which still need to be properly introduced in the European market.
He added, Pakistani business community would have to adopt an aggressive strategy to enter into Swedish markets, because Swedes are not only quality conscious, but very selective and careful while making deals with other countries.
Speaking on the occasion, LCCI President Irfan Qaiser Sheikh said LCCI attaches great value to the upcoming delegation of Swedish companies which promote clean technologies. Since the Swedish delegation is arriving in between mid April to early May, therefore, LCCI has planned to organise a seminar prior to their visit in mid or late March to make their members aware of the benefits of clean technologies. This activity will certainly be beneficial to boost chances of matchmaking during B2B meetings and also for exploring possibilities of joint ventures.
He said Stockholm Chamber of Commerce and LCCI had signed an MOU in November 2010 and we keenly look forward to playing our due role to make most out of that opportunity. Taking into account the trade figures of last three years, it is a noticeable factor that the volume of bilateral trade between Pakistan and Sweden has significantly dropped. In 2008, the total trade was recorded as much as $453.7 million. Out of that, Pakistan exported items worth $102.1 million and imports from Sweden accounted for $351.6 million. But in 2009, the bilateral trade went down by 40 per cent and made no significant improvement in 2010, as well.
Though, in 2010 Pakistani exports recovered well by touching over $106 million mark, but constantly dropping level of imports from Sweden greatly contributed to keep the total trade at $280.3 million. LCCI President said both sides need to make efforts to cease this declining trend in bilateral trade. Pakistan has always been experiencing trade deficit with Sweden. “We would naturally like Sweden to import more from Pakistan to create a win-win situation for both the countries.”
Major exports of Pakistan to Sweden; include textile products, leather products, cereals, cotton, carpets, electrical equipment sports goods, etc.
Irfan Sheikh said Sweden should consider increasing its imports from Pakistan, particularly adding up agro products. “We are not only good in quality both in organic and inorganic agro products, but are competitive in the international market.”
On the other hand, Pakistan’s major imports from Sweden are iron and steel, paper and paper-board, machinery, electrical and electronic equipment, pulp of wood, plastics and copper products, chemical products, etc. These too form a trivial fragment of Pakistan’s imports from the world. Hence, there is a possibility of greater export of these commodities by Sweden to Pakistan.
For broadening our mutual trade and investment, there is no other way so powerful and effective than the exchange of delegations and both the countries should concentrate on organising single country exhibitions and catalogue shows.
Former Senior Vice President Tahir Javed Malik, former Vice Presidents Shafqat Saeed Piraca, Faisal Iqbal Sheikh, Executive Committee Members Sheikh Muhammad Ayub, Aftab Ahmad Vohra, Yousaf Shah, Khamis Saeed Butt and former EC member Mian Zahid Javed, were also present on the occasion.
