Pakistan, Portugal To Expand Economic Ties: Ambassador Pocinho

Ambassador of Portugal to Pakistan Paulo Neves Pocinho on Thursday said that there are vast opportunities for trade and investment between Pakistan and Portugal

ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Jun, 2022 ) :Ambassador of Portugal to Pakistan Paulo Neves Pocinho on Thursday said that there are vast opportunities for trade and investment between Pakistan and Portugal.

The ambassador, Paulo Neves Pocinho, called for strengthening ties between the two countries, especially in economic terms related to investment and trade opportunities.

Ambassador of Portugal to Pakistan said this while talking to the Vice President Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Umar Masood ur Rehman , who paid a visit to the Portugal embassy in Islamabad, said a press release issued by FPCCI here.

Both sides discussed the matters of mutual interest and negotiated on wide-ranging trade, industry and commercial cooperation for engaging on investments and joint ventures.

The ambassador expressed the hope in enhancing bilateral trade with Pakistan in view of the high potential between the two countries.

He agreed to organize a webinar between the 'Portuguese and Pakistan Businessmen' in October 2022.

He said that Portugal and Pakistan should develop close cooperation with it to get better market access to European countries and African regions.

Paulo Neves Pocinho said that both countries have room to strengthen bilateral collaboration for mutual benefit.

He emphasized the need for exchange of trade delegations between both the countries.

The envoy said that Portugal has Preferential Trade Agreements (PTAs) with many countries to give them market excess in the EU and added that Pakistani investors can promote exports to Europe by the Portuguese market.

"Portugal can serve as a gateway to Europe for Pakistan" he said.

He said the FPCCI should form a delegation for Portugal to explore new business and investment opportunities.

He offered to expedite the visa processing for the business, industry, and trade community's representatives of Pakistan to create an enabling environment for them to forge business-to-business and people-to-people relationships.

On behalf of the business and trading community, VP FPCCI, Umar Masood ur Rehman has expressed his desire to enhance the bilateral trade relations between Pakistan and Portugal.

He said that there are many untapped potentials in different sectors, where trade and investment avenues need to be explored.

Umar Masood ur Rehman, said that Pakistan wishes to increase trade ties with Portugal as both countries have the potential to improve bilateral trade in different sectors.

He said that Pakistan is producing quality products at affordable costs and highlighted that Portugal can benefit from this situation.

Trade volume between Pakistan and Portugal is not encouraging and it is essential that both countries should promote strong connectivity between private sectors to identify untapped sectors of mutual cooperation.

He also stated that Portugal should enhance the import of Pakistani products including textiles, garments, surgical instruments, sports goods, leather products, fruits and vegetables and other required products to attain full benefits of GSP Plus.

He invited the Portugal companies to expand their presence in Pakistan; and, look into the joint ventures and strategic partners to extend their interests.

Portugal has enormous opportunities in Pakistan to invest in poultry, dairy, animal feed, modern agriculture, food processing, and industrial collaborations, he said.

He said that frequent exchange of business delegations are the options that can bring people of both the countries closer to each other that would eventually enhance the mutual cooperation between Pakistan and Portugal.