Conference on Trade and Tourism Opportunities in ASEAN held at LCCI
Lahore (MNP) As part of the efforts of Lahore Chamber of Commerce and Industry aimed at exploring new avenues for trade, investment and economic gains, a Trade and Tourism Conference on ASEAN was held at LCCI on Monday.
Governor Punjab Muhammad Baligh ur Rehman, LCCI President Kashif Anwar, High Commissioner of Malaysia Mohammad Azhar Mazlan, Ambassador of Indonesia Adam Mulawarman Tugio, Senior Vice President Zafar Mahmood Chaudhry, Vice President Adnan Khalid Butt, spoke on the occasion while Convener LCCI Standing Committee on ASEAN Raja Hassan Akhtar and EC Member Fareeha Younas were also present.
Governor Punjab Muhammad Baligh ur Rehman congratulated LCCI President for organizing a conference on excellent topic. He said that it is also the primary responsibility of the Chamber to look for new opportunities.
He said that the country is going through extraordinary circumstances. At present we are witnessing the devaluation of the rupee and our economy is slowing down. He said that the country was going to default in 2022 and many economists said that we had already defaulted. But we came out of that situations and now we are moving towards new opportunities.
The Governor said that there are many opportunities for the businessmen in ASEAN. We now have to target our untapped export potential and the import potential of ASEAN. He said that Pakistan has to improve its halal standards to make its place in the halal market. He said that all institutions and government are fully ready to facilitate the investors.
Talking about tourism, he said that Pakistan has a lot of potential in terms of tourism. He said that investment is needed in tourism infrastructure, hospitality, hotels and restaurants. He said that LCCI Research department should conduct research in collaboration with embassies and work together in each area.
LCCI President Kashif Anwar said that this conference serves as a pivotal platform for fostering collaboration and improving connectivity among private sector representatives from Pakistan and the member states of ASEAN. It is our shared goal to boost mutual trade and explore new horizons of economic cooperation.
He said that ASEAN region has long been recognized as a dynamic economic powerhouse, and Pakistan is keen to harness the immense potential, it offers for our mutual benefit.
LCCI President Kashif Anwar said that LCCI has always been at the forefront of supporting the economic growth of Pakistan through facilitating exporters and empowering the local business community. He reaffirmed that solid commitment to this cause, as we believe that promoting international partnerships and collaborations is essential for achieving sustainable economic prosperity.
He said that ASEAN has been one of the fastest-growing regions in the world. Over the past few decades, ASEAN has experienced robust economic growth, driven by factors such as favorable demographics, increasing urbanization, rising consumer demand, and expanding trade and investment opportunities.
The LCCI President said that the global exports of ASEAN stood in excess of 2 trillion dollars in year 2022 while imports at 1.87 trillion dollars. Pakistan’s exports to ASEAN are merely 1.58 Billion Dollars while our imports from ASEAN are around 8.96 Billion Dollars. Pakistan has already signed Free Trade Agreement with Malaysia and the same is in process with Indonesia.
He said that it is worth mentioning that ASEAN serves as a vital trade and investment hub, both within the region and globally. It has established a network of free trade agreements with key trading partners, facilitating trade flows.
