President FPCCI Apprises D-8 CCI Business Forum About Opportunities In Pakistan

President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mian Nasser Hyatt Maggo while addressing to the participants of D-8 Business Forum, highlighted the opportunities available in energy, mining, infrastructure, automobiles, telecommunications; value added textiles and leather, banking and finance and engineering of Pakistan

KARACHI, (UrduPoint / Pakistan Point News - 12th Apr, 2021 ) :President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mian Nasser Hyatt Maggo while addressing to the participants of D-8 business Forum, highlighted the opportunities available in energy, mining, infrastructure, automobiles, telecommunications; value added textiles and leather, banking and finance and engineering of Pakistan.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in collaboration with D-8 Chamber of Commerce and Industry (D-8 CCI) and the Union of Chambers and Commodity Exchanges of Turkey (TOBB) organized D-8 Business Forum on the sideline of 10th D-8 Summit Dhaka, said a statement issued by the FPCCI here on Monday.

While addressing the D-8 CCI Business forum, Mian Nasser Hyatt Maggo highlighted the diverse resources and exports basket of Member countries like Malaysia's export consist of high technology goods, Turkey exports automobile and machinery, Iran, Nigeria and Egypt exports depend on natural gas, coal and mineral fuel, Pakistan's and Bangladesh's exports comprises textile etc.

Maggo also highlighted the potential areas of investment along the CPEC and Indonesia China Corridor.

The D-8 CCI Business Forum was graced by Foreign Minister of Bangladesh Dr. A. K. Abdul Momen, Minister of Trade of Turkey Ruhsar Pekcan , Commerce Minister of the Bangladesh Tipu Munshi and other notables.

The D-8 CCI Business Forum was attended by more than 200 businessmen including Presidents/Chairmen of Members Chambers of Commerce and Industry that is Bangladesh, Indonesia, Malaysia, Egypt, Nigeria, Pakistan, Iran and Turkey. During the plenary session, the Presidency of D-8 CCI was handed over to FBCCI from TOBB.

In his address, the President FPCCI emphasized the removal of tariff and non tariff barriers and implementation of Preferential Trade Agreement signed between D-8 countries.

He also discussed the Halal industry wherein the global market has increased to US$ 3.

5 billion and huge potentials are available for D-8 countries.

Maggo further underlined the need of joint collaboration for halal tourism wherein Malaysia and Turkey have expertise.

The President FPCCI also highlighted the visa issues, trade facilitation, harmonization of standards and custom related issues.

During the D-8 Forum, Ambassador Dato Ku Jaafar Ku Shaari, Secretary General of the D-8, urged member states to continue to enhance cooperation in the upcoming period.

There were three breakout sessions where distinguished speakers stressed on involvement of technologies to facilitate trade, investment, production and supply.

Capacity building and Skills development through collaboration among training institutes among D-8 Member States will have a significant impact on industries in the region.

They also emphasized that D-8 Member States should leverage the commonalities and aim to promote intra-trade, investment in innovation, minimize tariff and non-tariff barriers, better connectivity and collaboration among member states to ensure the target of US$500 billion trade in the region.

They also underscored the need of common investment policies, guidelines, and strategies including Diasporas investment opportunities and minimizing tariff and non-tariff barriers. The participants also discussed the challenges faced by member countries due to COVID-19 and hoped that with effective strategy and joint collaborations the member states of D8 will be able to minimize the losses.

In the Breakout Session III "Blue Economy, Marine Biotechnology & Resources", Director General National Institute of Oceanography and Chairperson FPCCI Standing Committee on Blue Economy Dr. Nuzhat Khan also gave presentation on Blue Economy, Sustainable Use of Marine Resources for sustainable Development and discussed the potentials of Pakistan in marine fisheries, aquaculture, seaweed resources, shipbuilding industries, ship-breaking industry, sea windmills, maritime tourism.