950806

Meets FPCCI, KCCI heads

Nigerian HC for

promoting bilateral

trade with Pakistan

RECORDER REPORT

KARACHI: A.R.Yunusa, High Commissioner of the Federal Republic of Nigeria, has said that positive steps should be taken for the promotion of existing bilateral trade and economic relations between Pakistan and Nigeria.

During a meeting with S.M.Muneer, President, FPCCI, at the Federation house here, he informed him that major changes had taken place in the economic policies of Nigeria which should attract foreign investment in his country.

The Nigerian High Commissioner said need of frequent Nigeria is in great need of medicines, cement, sugar, machinery, cotton yarn, cotton cloth, medical and surgical instruments, whereas it could export cofee, tea, rubber, minerals, hides and skins and leather, Coco, timber and palm oil to Pakistan.

The matter of transportation also came under discussion during the meeting and both the sides emphasised that direct flights should be operated between Karachi and Lagos. It was also decided that FPCCI will look into the possibility of organizing Pakistan's participation in Lagos and Kuduna International Trade Fairs of Nigeria.

S.M. Muneer, assured Yunusa that FPCCI would soon arrange a trade delegation to Nigeria and expressed his concern over the limited volume of trade between Pakistan and Nigeria. He assured that in the next joint ministerial meeting of the countries FPCCI would present proposals for the improvement of trade between the two countries.

In another meeting with members of the Managing Committee of Karachi Chamber of Commerce and Industry (KCCI) on Sunday, he said. Nigeria being the biggest and open market in Africa provides an ideal opportunity for Pakistani businessmen to increase trade between the two countries.

He emphasised the need to increase exchange of trade delegations between the two countries so that the businessmen of both the countries explore the possibilities of improving trade relations and establishing joint ventures.

He also pointed out that despite announcement made by the Export Promotion Bureau (EPB) of sending a Pakistani businessmen delegation to Nigeria earlier this year, the delegation was still awaited in that country. Nigeria will be holding trade fairs in November this year and in February and May next year and Pakistani businessmen are welcome to participate in the fairs, he said.

Answering a query, he said that export of timber planks has not been banned in Nigeria, however it has been temporarily suspended as some unlicensed exporters were involved in the trade. "It will again be opened after the scrutiny was completed.", he added.

Speaking on this occasion, President of KCCI Ahmed A. Sattar stressed upon improving air and sea links between the two countries which was imperative for improving trade balance between Nigeria and Pakistan.

He expressed dissatisfaction between the prevailing trade balance between the two countries and said that it should be improved. Pakistan's total exports to Nigeria in 1993-94 stood at Rs 234 million as against imports of Rs 2.8 million during the same period.