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‘Pakistani businessmen to make inroads in Bosnia to tap huge trade potential’

LAHORE: The Ambassador-designate to Bosnia-Herzegovina Lt Gen (retd) Muhammad Yousaf urged Pakistani businessmen to make inroads in Bosnia to tap huge trade potential exists in Eastern European countries.
Talking at Lahore Chamber of Commerce and Industry (LCCI) he said interaction with the Bosnian businessmen would enable Pakistan private sector to get access to whole of Balkan region that mostly comprises Muslims.
He informed the participants there were strong signals Bosnia was likely to join European Union (EU) group in near future and any business in that part of the world would bound to win EU.
He said he would make all out efforts to turn Pakistan mission into Bosnia a match making point for the business community in the two countries. 
He said he would also utilise Bosnian media to highlight the soft image of Pakistan, as in today’s world media was a strong tool to propagate information.
There is a great scope for the construction industry of Pakistan to make business deals with the Bosnian business community, said LCCI vice President Kashif Anwar.
He said instead of making any headway in increasing two-way trade, we were actually loosing the flow of trade, which was significantly low.
Recent years show a dismal trade performance and special efforts are direly needed to turn around this situation.
He said in 2013, Pakistan exports to Bosnia were just $72,000 and our imports were only worth $68,000. It does call to take serious steps at public and private level. 
He said Pakistan exports just electro-medical apparatus, articles of cutlery, gloves, mittens, leather garments and men’s suits etc. Our imports from Bosnia are flat rolled products of iron, printing machinery, conveyor belts, filtering machines and electro-medical apparatus etc.
Bosnia imports pharmaceutical products worth $321 million, raw hides and skins worth $208 million, footwear worth $181 million, cereals worth $145 million and sugars and sugar confectionery worth $131 million.
He said these were such items, which could be exported to Bosnia from Pakistan at much competitive prices. 
He stressed the need to identify new products to trade with and also make the trading arrangements much safer and efficient.
He said your good offices in Sarajevo could study these markets and suggest ways to improve the situation. We will certainly welcome to receive trade related information from you.
He informed the visiting diplomat LCCI has established a Mediation Centre i August 2012.
He said there were than 40 accredited mediators registered with LCCI who could the local, national and international businessmen for out of the court settlement. This Centre will serve as a confidence booster for Bosnian business community to positively consider Pakistan for trade expansion.

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