ISLAMABAD: Pakistan and Mexico have abundant natural resources, highly skilled manpower and good manufacturing capacities. Therefore, both countries should accelerate efforts for deepening trade, investment and commercial ties between Pakistan and Mexico to take full advantage of the vast opportunities that the economic success of both countries have opened up.
This was stated by Shaban Khalid, Acting President, Islamabad Chamber of Commerce and Industry while exchanging views with Arturo Hernandez-Basave, Ambassador, Embassy of Mexico who called on him at ICCI. He said both countries should focus on increasing cooperation in areas of oil exploration, automobile, steel, electronics, IT and other sectors.
ICCI Acting President said the bilateral trade between Pakistan and Mexico is very low which is hovering around $100-150 million with balance of trade in favor of Pakistan. He underscored the need of exploring joint collaboration possibilities particularly to further increase bilateral trade in textiles, apparels, home linen, garments, handicrafts, furniture, wooden panel etc.
He said apart from textile products and sports goods, Pakistani vendor industry in the segment of steel, auto parts and pharmaceutical products has good potential for exports and called upon the Mexican Ambassador to look for probing these areas for enhancing bilateral cooperation in these sectors. Speaking on the occasion, Arturo Hernandez-Basave, Ambassador, Embassy of Mexico said Pakistan and Mexico are still unexplored countries for businessmen and investors of both the countries.
He said Mexican Embassy was established a year ago in Pakistan and efforts are on to find out more areas of common interest for enhancing trade and economic relations between the two countries. He said Mexico is willing to diversify its trade relations with other countries apart from US, Canada and Latin American countries and opening of Mexican Embassy in Pakistan was a further step in that direction.
He said about 400-450 businessmen annually visit Mexico while businessmen of Sialkot visit almost every month to Mexico to enhance business relations. He said textile products of Faisalabad and sports & surgical goods of Sialkot are of very high quality and are well known in Mexico while Mexican food industry has potential to grab a share in Pakistani food market.
He said Mexican Embassy in Islamabad plans to launch some cultural activities like exhibition of paintings, photo sessions, musical concerts & film festivals etc. in the federal capital which are essential to familiarize with one another for enhancing trade and economic activities. For this purpose, he sought the support of business community to make this initiative a successful one for which he was given full cooperation.