Swiss envoy calls for more trade between Pakistan-Switzerland

While speaking at the Lahore Chamber of Commerce & Industry (LCCI) on Monday, the Swiss envoy said that the political system in Switzerland is stable while regulations are pro-business.

“Pakistani businessmen should come forward and join hands with the Swiss counterparts to avail the opportunities.”

He admitted that mutual trade does not reflect the real potential of the two countries as exhibitions and exchange of trade, delegations can help to boost mutual trade.

He said that both countries should also work together on the green economy.

The Ambassador added that the USA, Germany, Italy and France are the major trade partners of Switzerland. He said that the pharmaceutical industry in Switzerland is the most sophisticated and developed in the world.

Speaking on the occasion, LCCI President Mian Tariq Misbah said that good relations should be translated into trade and economic ties to benefit both countries. He said that interactions between the private sectors provide excellent opportunities for exploring new ways to expand trade and investment relations.

Mian Tariq Misbah said that Pakistan and Switzerland enjoy good diplomatic relations but however these relations are not reflected in the figures of trade volume. The bilateral trade volume stood at merely $336 million in 2020 out of which Pakistan’s exports to Switzerland were only around $15 million.

The LCCI President mentioned that the exports of Pakistan to Switzerland average around $15 million in the last ten years. This scenario seriously requires Pakistan to find new avenues for enhancing its exports to Switzerland.

He said that the LCCI is well aware of the economic importance of Switzerland as its global imports are more than $291 billion and its global exports are more than $318 billion.

Mian Misbah added that the potential areas, in which both the countries that can enhance trade and economic cooperation include Pharmaceuticals, value-added textiles, surgical instruments, sports goods, agriculture technology and renewable energy etc.

He said that Special Economic Zones are being established all across the country under China Pakistan Economic Corridor with all the essential infrastructure facilities. The government is offering lucrative tax incentives to both the local and foreign investors in these SEZs.

“Moreover, the introduction of Mobile Device Manufacturing Policy and Electric Vehicle Policy by the Government of Pakistan has given a special focus on bringing new players and technology innovation in the country”, the LCCI President added and requested the Ambassador to play a role in apprising the Swiss companies about these latest developments.

He said that Switzerland is well known for its tourism. Both countries should collaborate in exploiting the immense potential of the tourism sector in Pakistan. The joint venture between Pakistani and Swiss investors in this sector will create a win-win situation.

Mian Tariq Misbah said that Pakistan and Switzerland would have to take concrete steps including exchange of business delegations, organizing trade fairs and single country exhibitions to further enhance and expand bilateral economic and commercial interaction.

The LCCI President hoped that the Swiss Embassy will play a role to increase private to private contacts between the two countries.