Pakistan-Norway Trade Promotion Urged

Pakistan-Norway trade promotion urged

The volume of trade between Pakistan and Norway is increasing but not very impressive as there is big potential, which called for more steps on both steps ion.this account

KARACHI, (UrduPoint / Pakistan Point News - 10th May, 2022 ) :The volume of trade between Pakistan and Norway is increasing but not very impressive as there is big potential, which called for more steps on both steps ion.this account.

This was observed during the visit of Abassador of Norway to Pakistan, Per Albert Ilsaas to Karachi Chamber of Commerce and Industry, said KCCI release on Tuesday.

The Ambassador said that although Norway and Pakistan had been enjoying excellent relations and both countries had been cooperating with each other in multiple spheres, however more measures were needed to boost the bilateral trade.

"One of the main priorities for my team and me at the Embassy will be to see, how we can contribute to further deepening and strengthening trade relations and economic cooperation between our two countries", he said.

Norwegian Ambassador, who was on his maiden visit to Karachi, said the purpose of his visit to Karachi Chamber was to discuss the possibilities of enhancing trade between the two countries and seek advise on how the Norwegian Embassy and KCCI could work together for further strengthening bilateral relations.

Norway was fortunate enough to be home to a large and well-integrated Pakistani diaspora of 39,700 which was a size-able number for Norway as its overall population was 5.3 million only and the Pakistani diaspora had been contributing well to Norwegian society and the economy, he added.

He informed that Norway was a very rich country with huge natural resources particularly oil and gas resources while fish and salmon had been one of Norway's main articles of export.

President KCCI rightly pointed out immense opportunities in blue economy and Norway was a seafaring nation because the country had a large coastline.

These were the areas where there may be opportunities that were of mutual interest and benefits which could be identified and explored but Pakistan was not always perceived by Norwegians as the easiest place to do business, he said.

He said that a Norwegian company Scatec in collaboration with Nizam Energy had undertaken a project of setting up a solar power plant of 150 megawatts in Sukkur and the financial closure for this project was achieved in February 2021.

"The start of electricity generation by Scatec in Sindh would be a source of inspiration for other Norwegian companies." Earlier, President KCCI Muhammad Idrees said that Pakistan shares cordial ties with Norway where Pakistanis form one of the largest immigrant communities and the two countries have also signed a Double Taxation Treaty while Norway also provided development assistance to Pakistan.

He was of the opinion that there was much Muhammad Idrees mentioned that Pakistan and Norway could look into the possibility of enhancing trade of numerous products including medicaments for therapeutic purposes, flour, portland cement, fresh or chilled onions, potatoes, zen shrimps and prawns, fresh or dried bananas, vegetable fats and oils, flat-rolled products of iron or non-alloy steel etc.

He also underscored the need to undertake joint ventures in Pakistan in the renewable energy while the two countries can also engage in cooperating in other areas of blue economy. The coastal city of Karachi has the capacity to provide unlimited opportunities including for ports and harbors, marine transportation, fisheries, extraction of hydrocarbons, seabed minerals, value-added port logistics, shipbuilding, submarine cables, offshore installations, fish processing and coastal / eco-tourism.

Businesses in both countries could hold dialogues in this regard to capitalize upon Pakistan coastline of around 1,000 km, he said adding that business communities can also look into the possibility of undertaking joint ventures in ship building sector of Pakistan, KCCI said.