Pak-EU trade in first 10 months of current FY stands at $8,928m

According to the Ambassador of Pakistan to Belgium, Luxembourg and the European Union Zaheer A. Janjua Pakistan sold products worth $5,769 million to Europe during this period while the volume of products sold to Pakistan from Europe was $3,159 million.

Seen in this light, the current trade balance is in Pakistan's favour.

The Pakistani Ambassador said that trade between the European Union and Pakistan is beneficial for both sides, not just one.

He said that the machinery or raw materials of the products which Pakistan export is bought from Europe thus it is an important part of a positive relationship between the two sides.

Meanwhile, the Ambassador of Pakistan also released statistics on bilateral trade between Belgium and Pakistan.

According to these figures, from July 2020 to April 2021, Pakistan's exports to Belgium stood at $523 million, while its imports from here amounted to $283 million.

Pakistan sold most of its textiles and allied products, while bought textile machinery, petroleum and its by-products, agricultural machinery, medicines, scrap and a variety of polymers from Belgium.

On the other hand, the businessmen termed these figures as positive and stressed that it is very important to increase the list of worthy items for Pakistan's exports through the involvement of Pakistan's business community.

They said that for this, the government, research institutes and the business community of Pakistan would have to work together, otherwise reliance on the same industry would fail to solve its financial problems.