Lahore Chamber of Commerce and Industry delegation meet members of Pakistan Chamber of Commerce and Industry and United Kingdom Chamber

Lahore, June 16, 2012 (PPI-OT): After having hectic and high profile business meetings during their five-day stay in Turkey, the 37-member LCCI delegation Saturday reached London and had a very fruitful meeting at Pak-UK Chamber of Commerce.

The delegation headed by LCCI president Irfan Qaiser Sheikh and comprising LCCI former Senior Vice Presidents Engineer Sohail Lashari, Tahir Javaid Malik, Executive Committee Members Khawaja Shahzeb Akram, Khawaja Khawar Rashid, Fahimur Rehman Saigol, Chaudhry Wajid Ali and other prominent businessmen belonging to all sectors of economy spent over two hours at Pak-UK Chamber of Commerce and Industry. The LCCI delegation got a briefing of opportunities available in the UK for Pakistani businessmen besides having one-to one meetings with their counterparts in the United Kingdome.

While welcoming the LCCI delegates, the President Pak-UK Chamber of Commerce and Industry Syed Qamar Raza threw light on the very objectives of the establishment of the chamber and said that the enhancement of trade between the United Kingdom and Pakistan, identification of mutual investment and business opportunities, provision of an optimum networking platform to maximise two way business are the targets that are being pursued day in and day out.

He said that expatriate Pakistanis, particularly those living in the United Kingdom, are keen to make investment in Pakistan through joint ventures with potential businessmen.

He said that UK being the fastest growing economy in the European Union, has a huge potential for Pakistani businessmen as the process of globalization is bringing the people closer and there is a need to learn from the experiences of each other.

He said that the UK Pakistanis are committed to a long-term, productive and friendly partnership with their counterparts as they view it as a long-term strategic partner and Pak Uk Chamber would continue to support all LCCI endeavors aimed at expansion of trade relations between the two countries.

He added that a good number of UK Pakistanis were already doing business in Pakistan and the LCCI delegation’s visit would further strengthen these relations.

He said that it is needless to mention that “we must take advantage of each others’ strength. We believe that through collaboration, the role of UK based business community can be ensured in Pakistan.” Speaking on the occasion, the LCCI President Irfan Qaiser Sheikh urged the UK Pakistanis to pay their due role in getting GSP Plus status from EU for bringing the much-needed economic turnaround.

He said that for a sustained private sector based economic cooperation, there is need to develop and promote a network of business relations in both the countries. Exchange of trade delegations between the two countries can prove to be an effective strategy for boosting the level of bilateral trade.

He said that to supplement exchange of information, sector specific weeks focusing on a selected field of interest like agricultural, health, energy, infrastructure, can be organized at major cities of Pakistan and UK. It will greatly help create mutual awareness.

He assured UK Pakistanis of full LCCI support if they make investment in lucrative sectors like telecommunications, information technology, financial services, petrochemicals, livestock, dairy, consumer goods, food processing, pharmaceuticals, minerals, and particularly in energy sectors.

The LCCI President said that Pakistani businessmen attach a lot of value to these facts that UK is one of the top five export markets in the world for Pakistan. With regard to major importing countries to Pakistan, UK takes the 15th position. And in terms of favourable balance of trade, UK stands at the fifth place.

Irfan Qaiser Sheikh said that the presence of different multi-national companies from UK which are growing and doing well in Pakistan is indicative of the fact that there are ample opportunities and potential for UK investors for business in Pakistan.

The Multi-national Companies like GSK in pharmaceutical, ICI in chemicals, Standard Chartered Bank in financial services, Unilever in consumer goods, Massey Ferguson in automotives, Shell in petroleum, Ranhill Berhad in energy, Oxford University Press in publications and many more are doing well and further strengthen the notion that Pakistan is a good investment destination . The LCCI President said, “We as the representatives of private sector are ready to collaborate and facilitate any initiative taken by UK based companies.”

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854

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