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Czech Republic, Pakistan to ink deal

By Our Correspondent
March 22, 2018

ISLAMABAD: Czech Republic would sign an agreement with Pakistan on trade cooperation and foreign affairs to further strengthen economic ties between the two countries, an official said on Wednesday.

“The global economic environmental and financial changes have led to a lower trade volume between the two countries,” Ivan Jancarek, deputy minister for foreign affairs of Czech Republic, said at a meeting with the officials of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) held at the trade body’s office.

“The volume of bilateral trade was below the potentials and had declined to $150 million from $217 million last year.”

Jancarek continued that volume of Pakistan’s export to the Republic stood at $92 million and imports from Czech Republic were recorded at $57 million, which did not reflect the true trade potential of the two nations. “Pakistan … has a great attraction for foreign investment particularly in the backdrop of China-Pakistan Economic Corridor (CPEC),” he said.