Businessmen urged to exploit opportunities in Spain

FAISALABAD: Spain is ready to expand its bilateral trade with Pakistan with a focused approach on food processing and tourism development.

Addressing the members of Faisalabad Chamber of Commerce and Industry (FCCI) here on Wednesday, Economic and Commerce Attache of Spain Embassy, Mr Misuel Pena said that Spain had made tremendous progress in industrial sector while 90 million tourists visited Spain last year.

He said the private sector of Pakistan should avail the expertise and experience of Spain in these sectors. He also mentioned that 70,000 Pakistanis are living in Spain and they are contributing in the overall development, progress and prosperity of Spain. He said Pakistan could export a long chain of different products to Spain and other EU countries but the main emphasis of Pakistan remained on the textile.

Mr Pena said that Pakistan should diversify its export by exploiting the opportunities available in other fields also. He stressed the need for B2B linkages between the private sectors of two countries.

He hoped that Spanish embassy will remain in touch with the R&D directorate of the FCCI for exchange of current business trends prevailing in two countries. Earlier, FCCI president Zia Alamdar Hussain said that Faisalabad was the third major city of Pakistan.

“This city is contributing 55 per cent towards textile and 30 per cent towards the total export of Pakistan.” He said that Pakistanis settled in Spain should also play their role in technology transfer to their country.

“The quantum of bilateral trade stood at 1113.48 million dollars in 2017. Pakistani made 904.52 million dollar export while imports from Spain were only 208.5 million, hence the balance of trade remained in favour of Pakistan,” he added.

He said that Pakistan was the fourth largest milk-producing country. “Similarly, we are also producing a large number of organic crops which could be used in value addition. Spain has developed latest technology for value addition and we must get benefit from it to promote value addition in Pakistan.” He told that Spain could also invest in this sector in addition to technology transfer to Pakistan.