Business

High-Tech Products: Where Pakistan’s Business Community’s Future Lies

The Ambassador-designate of Pakistan to Switzerland, Ahmed Warraich has urged the business community in Pakistan to focus and work on high-tech products and diversification of exports. The idea is to develop products that help in enhancing trade with other countries including Switzerland.

On Friday, Ahmed paid a visit to Islamabad Chamber of Commerce and Industry (ICCI) where representatives from the private sector briefed him about improving and boosting bilateral trade with Switzerland.

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High-tech products are the future

While speaking to the management of ICCI, Warraich said that the business community in Pakistan highly depends on textiles and some products for exports. He has been of the view that Pakistani businesses should now focus on high-tech products including mobile devices, computers and laptops and other value-added products. Ultimately, it will provide a massive boost to the overall export of the country.

Promoting tourism in Pakistan

In addition, Mr. Warraich also stated that the improved law and order situation in the country can also be a reason for tourism to return back to Pakistan. He made sure that:

“I would work hard for perception change of people in Switzerland about Pakistan so that our country could attract more foreign tourists”

One of the key areas of exploring new channels of boosting Pakistan’s trade and exports is the exchange of trade delegations. He stressed on establishing a form of delegation for Switzerland and ensured his complete support to make the visit successful.

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Business potential between the two countries is lower than what it should be

While speaking at the occasion, the President of ICCI Khalid Iqbal Malik stated that the bilateral trade between Pakistan and Switzerland is mere $500 million. Despite relishing good relations, the trade potential between the two countries is too less. He emphasized that the government should also play a positive role in, particularly with the private sector, to discover the new avenues of joint cooperation with Switzerland.

In his concluding remarks, Malik requested the Pakistani foreign missions to develop durable liaison with local chambers of commerce. The move will eventually help the private sector in identifying new markets for Pakistani products. Additionally, he also made sure that ICCI would also consider forming a delegation to Switzerland in the near future.

 

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