The Trade Commissioner at the Embassy of Belgium in Pakistan, Abid Hussain, has said that there are lucrative investment opportunities for Pakistani firms in Belgium, especially in the pharmaceutical, gems, jewelry, and diamond industry. Pakistani firms should look at investing and forming Joint Ventures (JVs) as these sectors are advanced in the country and hold the potential for huge profits.
Abid Hussain said, “Pakistani businessmen should come forward and avail themselves of these opportunities. A Pakistani company is already investing in the pharmaceutical sector there but this sector of Pakistan should make a strong presence there. Belgium is one of the top 10 richest states in the world. It has advanced technology, high-tech industries, and 85% of its production is exported.”
He highlighted that the Gwadar and Port Qasim were initially developed by Belgians as well and Pakistani companies should form JVs with Belgian companies to enter into the European market. He also emphasized that there is a huge potential for trade between the two countries and the current trade stood at $950 million from both sides in 2019 which has been decreasing in the previous two years as well.
The countries should increase the trade by introducing items required by each other to boost cooperation as well that will boost the economy of both countries.
Image Source: Business Recorder
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