Tuesday, April 23, 2024

Belgium holds lucrative investment opportunities for Pakistani firms: Belgium Trade Commissioner

Abid Hussain, Trade Commissioner at the Belgian Embassy in Pakistan said that Pakistani firms in Belgium have lucrative investment opportunities, especially in the pharmaceutical, gem, jewellery and diamond industries. As these sectors are advanced in the country and hold the potential for huge profits, Pakistani companies should look at investing and establishing Joint Ventures (JVs).

“Pakistani businessmen should come forward and take advantage of these opportunities,” stated Abid Hussain. “A Pakistani company is already investing in the pharmaceutical sector there, but the presence of this sector should also be made there. Belgium is one of the world’s top 10 richest nations. It has modern infrastructure, high-tech industries and 85% of its production is exported,” he added.

He stressed that Gwadar and Port Qasim were also initially established by Belgians and that, in order to enter the European market, Pakistani companies should form JVs with Belgian companies. He also emphasized that there is a huge trade opportunity between the two nations and in 2019, the current trade stood at $950 million on both sides, which has been declining in the previous two years.

Countries can increase trade by implementing the products needed by each other to boost cooperation, as well as by boosting the economy of both the countries.

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