Rawalpindi: Ukraine offers various sectors for possible joint ventures including energy, steel, and technology. Pakistani businessmen should capitalise on these opportunities, suggested Ambassador-designate to Ukraine Major General Zahid Mubashir Sheikh during his visit to the Rawalpindi Chamber of Commerce and Industry (RCCI) here on Thursday.
Speaking to the business community, Mubashar Sheikh said that bilateral trade and economic cooperation between the two countries demonstrates positive tendency to its intensification. The volume of trade between Ukraine and Pakistan amounted to 220 million US dollars, with export of goods amounting 164.4 million US dollars (43% increase compared to the same period of the last year) and import of goods amounting 56.6 million US dollars (19% to the same period of the last year) as of 2017, he informed.
“Both countries take interest in each other’s market and stress their readiness to exploit huge unused trade potential,” he added. He stressed upon business community to bridge the gap between the private sector of each destination. While assuring full cooperation, he said, “Pakistan embassy in Ukraine will extend cooperation in every possible way for holding a single-country exhibition and for the exchange of business delegations.”
The envoy appreciated RCCI efforts in promoting trade ties through exchange of delegations and exhibitions.
Speaking on the occasion, RCCI President Malik Shahid Saleem in his remarks stated that Ukraine was one of those countries that has strong and close ties with Pakistan as both countries have been cooperating with each other in the education sector and cultural exchanges. He emphasised the need for cooperation in the areas of agriculture, pharmaceutical and information technology.
He said Ukraine, being one of the biggest grain producers, can also transfer its agro-science knowledge to Pakistan for increasing crop yields, besides participating in Public-Private Partnership projects.
“Ukrainian engineering sector is another potential area where Pakistan can benefit from the processes and consequent product development,” he said. “Pakistani businesses are specifically eyeing the prospects of technology transfer.”
He pointed out, opportunities existed for cooperation between the heavy industry in Ukraine and the emerging engineering sector in Pakistan in the form of joint ventures with third-country market in view.
He emphasised that Pakistan and Ukraine had yet to fully exploit the available potential for trade and investment.
