FAISALABAD City News

Pakistani businessmen should explore market of Bosnia: envoy

Says we are expecting EU membership soon

FAISALABAD: Pakistani businessmen should explore the market of Bosnia and Herzegovina by participating in Sarajevo business forum 2016 scheduled to be held in Bosnia on May 4-5, said Bosnian Ambassador Dr Nedim Makarevic.

Addressing the Faisalabad Chamber of Commerce and Industry (FCCI) here on Thursday, he said: “Although Bosnia is a small market with population of only 4 million but it can provide direct access to the entire European community as we are expecting membership of the European Union very soon.” He said that Bosnia and Herzegovina was the only Muslim majority country of Europe with GDP of $5,300 per annum. He said that people had sufficient purchasing power and hence there was huge scope for investment as well as exports to this country. He said that Pakistani products were available in his country but these were routed through other countries and hence Pakistani exporters should come forward and start direct export to this new and emerging market. He said that Bosnia was passing through a critical stage of reconstruction after civil war and now situation in the country was improving at a much faster pace. He said that Bosnia was importing defence products in addition to leather goods and surgical items from Pakistan. The textile products were being imported from Turkey and Germany and now the business community of Faisalabad should make efforts to get their due share from the textile related demands of Bosnia. He said that there was no business related restrictions and hence the Pakistani business community should participate in the business forum to explore the emerging opportunities in this part of the world. He further said that the businessmen intending to participate in the business forum should contact FCCI former president Sohail Bin Rashid for visa related facilitation. To a question, the ambassador said that Bosnia was producing cheap hydel electricity. It had surplus electricity but it could not be exported to Pakistan in the absence of transmission line, he added.

The spouse of Dr Nedim Makarevic also addressed the function and stressed the need to enhance bilateral cooperation for progress and prosperity of the two countries.

Earlier, M Nawaz, in his welcome address, said that the FCCI had more than 5,000 members within its fold, who represented all sectors of trade including, textile, construction, foundry, leather and confectionary.

FCCI former president Sohail Bin Rashid said that the trade between the two countries was growing but still it was not up to the mark as compared to their potential. He said that there were vast prospects of joint ventures in textile, agro-based industry, leather goods, oil and gas and information technology. He suggested exchange of business delegations on regular basis to enhance bilateral trade between the two brotherly countries.