Pakistan can supply textiles to Czech Republic: LCCI

19 Mar '14

2 min read

Pakistan’s strength lies in textiles and it can supply its textiles and other products to the Czech Republic, Lahore Chamber of Commerce and Industry (LCCI) president Engineer Sohail Lashari said during a meeting with Czech Ambassador to Pakistan Miroslav Krenek in Lahore, according to a LCCI press release.

Mr. Lashari said there is a huge potential of trade between the Czech Republic and Pakistan and aggressive marketing needs to be done by both the countries. He suggested that frequent exchange of business delegations and holding of single country exhibitions can be instrumental in raising trade and investment between the two countries.

LCCI president said Pakistan can supply textiles, leather products, sports goods, carpets and other items to the Czech Republic, however, the country’s strength lies in textiles. He added that the investment made by the Czech Republic in Pakistan’s textile sector would not only cater to the demand of Pakistan and the Czech Republic, but would also cater to the demands of a much expanded market of Central Asian States, Gulf countries, and other regional countries and even the EU and the US.

Hence, the Czech businessmen should seriously study and monitor investing in Pakistan’s textile and other industries, Mr. Lashari said. He informed the Ambassador that Pakistan’s investment policy offers attractive terms to foreign investors.

He said the Government allows 100 percent foreign equity and no government sanction is required. Moreover, the Government also allows remittance of capital, profits, dividends and royalty.

Ambassador Krenek said the current volume of bilateral trade was no match to the business potential between the two countries, and urged the LCCI to come forward and play its role. He said there was a need to work together in order to identify possible fields of cooperation and to provide proper information to business communities of both sides.

At present, textile imports from Pakistan account for only 2.1 percent of total textile imports made by the Czech Republic.

Fibre2fashion News Desk - India

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