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Friday June 21, 2024

B2B link with Bahrain urged

By Our Correspondent
September 21, 2023

KARACHI: Pakistan’s Ambassador-designate to Bahrain Saquib Rauf visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday to take stock of issues, promote IT exports to the gulf country and explore B2B linkages.

The ambassador visited the FPCCI head office in Karachi to take the business community on board vis-à-vis enhancement of trade and economic relations between the two countries, and help Pakistani exporters to tap into new product categories.

He maintained that there are a lot of MoUs and other trade promotion agreements of Pakistan with other countries. However, many remain unfulfilled and therefore he has come to the business community to take stock of the real issues and ground realities.

He took special interest in promoting IT exports to Bahrain and organising visits of businessmen from Bahrain to Pakistan to help them explore investment opportunities and establish B2B linkages. “We need to boost our exports, remittances and FDI to help cope with the economic challenges,” he added.

FPCCI President Irfan Iqbal Sheikh said trade with Bahrain surged by almost 400 percent to $595.12 million in FY22 compared to $119.95 million in FY20, with trade balance in favour of the gulf country.

He said that Pakistan possesses considerable potential for exports to Bahrain, with key commodities including plastics and articles ($418.43 million), pharmaceutical products ($313.33 million), optical and photographic instruments ($220.024 million), furniture ($190.87 million), edible fruits and nuts ($189.17 million), and salt, Sulphur, earth and stones ($159.33 million).