LAHORE – Ambassador of Lebanon Mona El Tannir has called for well tailored sector specific measures to cement mutual trade ties.
While talking to Lahore Chamber of Commerce & Industry (LCCI) President Malik Tahir Javaid, Vice President Zeshan Khalil and Executive Committee members here at the LCCI, the ambassador said that businessmen of both countries should focus each other’s market as Pakistan is an emerging economy while Lebanon offers investors a wide range of investment opportunities in all sectors of the economy, especially in tourism, agriculture, and energy. Furthermore, Lebanon represents a point of entry to a large regional market.
She said that Embassy of Lebanon in Pakistan is facilitating the business community for closer and strong trade and economic ties between Pakistan and Lebanon. She urged the Pakistani businessmen to visit Lebanon to identify the trade and investment opportunities.
The LCCI president said that the balance of trade is in favour of Pakistan but unfortunately there is decreasing trend in bilateral trade relations. The trade figures revealed that in 2014, the volume of two-way trade was just $34 million which fell down by 21 percent and by 23 percent in next two years. He said that exports of Pakistan were to the tune of $30 million in 2014 which contracted by 9 percent and 20 percent in 2015 and 2016, respectively. The same trend was witnessed in imports made from Lebanon to Pakistan.