Pak industries in Mexico to help explore US, Canadian markets

LAHORE - Pakistani businessmen should establish industries in Mexico to have access to US and Canadian markets with which the country has 90 per cent of its trade.
The Ambassador of Mexico Arturo Hernandez Basave stated this while speaking at Lahore Chamber of Commerce and Industry here on Wednesday. LCCI President Mian Muzaffar Ali also spoke on the occasion.
The Mexican Ambassador said that Mexico has Free Trade Agreement with as many as 12 countries which itself is a big opportunity for all the developing countries including Pakistan as Mexico is concentrating on diversification of economic activity.
He said that the existing volume of two-way trade between Pakistan and Mexico was not matching with the potentials so both the sides should work on new methodologies to explore new area of business cooperation.
The Ambassador, who spent well over an hour at the Lahore Chamber of Commerce and Industry, spoke highly about Pakistan saying that political situation here was not an impediment in enhancing business between the two countries.
He said that Pakistan's strategic location had always been of great attraction for potential foreign investors but to bring more investment Pakistani businessmen would have to strengthen their trade relations with other countries.
The Ambassador also invited the LCCI President to arrange a business delegation to Mexico so that the Pakistani businessmen could have first hand knowledge about the available opportunities there particularly in the area of oil and gas and skill development.
The LCCI President Mian Muzaffar Ali while calling for more close relations between the two countries said that both Pakistan and Mexico have abundant natural resources, skilled manpower and good manufacturing capacities but none of the two countries is taking full advantage of these resources.
The LCCI President said that the era of traditional trade was now over and the immediate demand of the new millennium is new markets in the countries of similar structure.
He stressed the need for immediate steps to introduce both the countries in a big way on reciprocal basis. To expand the two way trade and economic collaboration for mutual benefits, single country exhibitions, frequent visits of trade delegations comprising private sector representatives, close co-ordination between trade bodies like chambers of commerce and industry, exchange of socio-cultural programmes etc can act as a catalyst for more closer interaction between the masses of Pakistan and Mexico.
To further add, there are bright prospects for joint ventures between Pakistan and Mexico in the fields like textiles, light engineering, food and fruit processing, agro-based products, poultry and dairy industry, automobiles, auto-parts, transport equipments, home appliances, plastic products, leather and leather products.
He said that the main items of exports from Pakistan are textile yarn and fabrics, surgical instruments, articles of apparel accessories, sports goods, and dry chilies. Major imports from Mexico to Pakistan comprise dying and tanning materials, general machinery equipments and parts, organic chemicals and pharmaceutical products.