Lahore: The Pakistan Association of Automation Parts and Accessories Manufacturers (PAAPAM) has stressed the need for technical collaboration with international companies, including Belarusian firms, for hi-tech auto parts manufacturing in Pakistan, besides cooperation in automobile sector specifically trucks, tractors, electric buses, IT and service sector.
PAAPAM Senior Vice Chairman Abdur Razzak Gohar while talking to Honorary Consul of the Republic of Belarus Walid Mushtaq, appreciated the efforts of the Belarusian Embassy to enhance cooperation between the two countries, underscoring the need for frequent people-to-people contact, regular exchange of trade info and business delegations.
The agenda of the meeting was to have an overall view of the automotive industry of Belarus and Pakistan, identifying key players for the possibilities of joint ventures with Belarusian engineering sector.
He said that the PAAPAM is interested in making contacts with foreign companies and analyze the possibility of joint ventures as well with them. “We are looking for joint ventures and trade agreements for the development of engine and hi-tech consumable parts for aftermarket and OEM consumption, besides targeting Middle Eastern, Central Asian and African markets”, he added.
PAAPAM Senior Vice Chairman said that despite having cordial and healthy relations, the trade volume between Pakistan and Belarus is merely around $50.2 million and exports of Belarusian goods to Pakistan amounted to $35 million dollars. Trade balance is heavily skewed in favor of Belarus as Pakistan exports to Belarus are just $15 million.
Pakistan mainly imports tractors, tractor parts, potash fertilizers, tyres, synthetic yarn and synthetic fibers from Belarus. He said that there is tremendous potential for Pakistan to enhance its exports of value-added textile goods, pharmaceutical products, surgical instruments, sports goods and leather products to Belarus.
There is also a huge scope to enhance collaboration in the fields of agriculture and energy. He urged the Honorary Consul of Belarus to play his role in identifying additional products which have the potential to be exported to Belarus from Pakistan.
He said that since the two countries have very limited knowledge about each other’s economies, PAAPAM believes that exchange of trade delegations and single country exhibitions can play a vital role in enhancing the trade volume between two countries.
Honorary Consul of the Republic of Belarus Walid Mushtaq, on this occasion, assured his full support for arranging meetings with their Belarusian counterparts. He said that Belarus has an ideal geographical location and earns huge revenue from logistic cargo services.
“Pakistan should diversify its export destinations and come out of a few mainstream countries”, Mushtaq said.
He said that a rightful alignment can have a better way to enhance bilateral relations of the two countries. He urged the PAAPAM members to consider joint ventures in the fields of automobile, services and other industrial products since enormous potential exists for both countries to benefit from each other by means of bilateral trade and economic ties, which will provide a potential market for the economy of Pakistan to progress.