Czech Republic for enhanced business ties with Pakistan

KARACHI: Jan Fury, ambassador of Czech Republic, has stressed the need to explore avenues for enhanced collaboration and bring the business communities of Czech Republic and Pakistan closer to each other, a statement said.

“We have to improve communication between the business communities of the two countries,” he said, while visiting the Karachi Chamber of Commerce and Industry (KCCI) on Friday.

The trade volume between the two countries is low, but it has been gradually improving since 2013, which is a good sign.

“A lot of potential exists to raise the current trade volume through collective efforts from both the sides and we must do more,” he added.

The Czech ambassador advised the business community of Karachi to focus on diversifying their exports, as currently textile products are mostly being exported to Czech Republic.

The business community of Karachi can consider exporting food and agricultural products, as well, whereas they can also benefit from the high-quality electronics, heavy machinery and IT services and technologies being offered by Czech Republic, he said.

Referring to the recent visit of a small delegation from Czech Republic, which was in Karachi to attend an exhibition, Fury said that a delegation comprising Pakistani businessmen and industrialists will also visit Czech Republic later this year to look for the possibilities of enhancing trade.

He extended full support and cooperation to the business community in benefiting more from the GSP Plus status granted by the European Union.

Earlier, welcoming the ambassador, KCCI President Younus Muhammad Bashir said that the chamber is keen to strengthen trade ties and explore new bilateral trade prospects with Czech Republic, as Pakistan’s improved relations and enhanced trade with the business and industrial community of Czech Republic would surely prove to be very fruitful for both the economies.

Commenting on Pakistan-Czech Republic’s trade and economic relations, he said that the bilateral annual trade between the two countries is around $60 million during FY15, of which Pakistan exported goods worth $39 million, while its imports stood at $20 million.

“Although the potential exists, but the existing trade volume is not reflecting the same," he added.