Enhancing Trade Ties With Islamic Countries Urged

Pakistan Furniture Council (PFC) Monday termed Prime Minister Imran Khan's official tour to Saudi Arabia and Malaysia imperative for revival of economy and urged the need for enhancing bilateral economic ties and trade relations between brotherly Islamic countries in addition to gulf states.

ISLAMABAD, (UrduPoint / Pakistan Point News - 22nd Oct, 2018 ) :Pakistan Furniture Council (PFC) Monday termed Prime Minister Imran Khan's official tour to Saudi Arabia and Malaysia imperative for revival of economy and urged the need for enhancing bilateral economic ties and trade relations between brotherly Islamic countries in addition to gulf states.

Chairing the board of directors meeting PFC Chief Executive Mian Kashif Ashfaq said the council was organizing furniture fair at Lahore in which furniture manufacturers from all Islamic countries would be invited to boost the trade volumes among them, a press release said.

Furthermore, he said it was also decided that a special high level PFC delegation would be dispatched to middle east countries, Malaysia, Indonesia including Philippine to explore new vistas of trade in furniture industry and invite furniture makers and investors to visit Pakistan and invest in Pakistani furniture sector to earn billions of rupees as there was huge scope and ample opportunities in this sector for investment.

He appreciated the prime minister for deciding to play active role for revival of the economy and started foreign tours to woo foreign investors and buyers and to boost the volume of the exports.

He said the Muslim countries had enormous resources and potential to succeed, but the task was to transform the potential into real asset. Promotion of economic linkage within the Muslim communities by creating opportunities could help generate greater flow of capital from within and beyond the Islamic world.

He further said there was great need to promote integration amongst the Islamic countries in the era of globalization and absence of unity among the OIC countries which was the biggest challenge in the present situation.

He said there was also a great cushion of expansion in the market share of food sector products already being exported. "Pakistan can also easily cater to the rapidly growing sector of organic foods and furniture in Saudi Arabia. Similar potentials exist in services sector be it financial services, insurance sector, facilities management, IT services, entertainment industry." He underscored that there should be regular exchange of meetings between the investors and businessmen of the both countries. It would open up new avenues of investment and further boost the relations between the two countries, he added.

He said Saudi Arabia was our true friend and brotherly country while every Pakistani considered Saudi Arabia as his second home. Both countries were connected with each other through religious, cultural and economic linkages which provided fresh impetus to their relations, he added.

He further said frequent exchange of business delegations and enhanced business-to-business interactions were guaranteed to accelerate the commercial relations. Liberalized business visa regime on both sides would greatly facilitate such interactions.