KCCI asks Spanish investors to invest in energy projects

KCCI asks Spanish investors to invest in energy projects

KCCI asks Spanish investors to invest in energy projects

KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Haroon Agar urged the Ambassador of Spain, Javier M. Carbajosa Sanchez, to invite Spanish investors to invest in renewable energy solutions as Spain is one of the world’s leading countries in the development and production of Renewable Energy and Pakistan being energy-hungry country desperately needs energy.

Exchanging views, the President KCCI Haroon Agar said that Spain being world leader in solar power has enormous potential to invest in alternate and renewable energy solutions and help Pakistan in technology transfer.He said that Spain is also Europe’s main producer of wind energy, Spanish companies can exploit the great existing potential and opportunity to produce energy from wind at Gharo-ketibunder wind corridor in Sindh.

He said that Pakistani textiles, fashion and leather garments, sports goods, fruits have excellent potential to be exported to Spain.Present trade volume less than 1 billion dollar is far below than potential and serious efforts are needed to enhance Pakistan-Spain bilateral trade.Major items of imports from Spain were machinery, iron and steel products, ceramic products, boilers, telecommunication equipment, chemicals etc. Pakistan seeks Spain’s support to get GSP plus status and fair access to EU market.

Keeping in view mounting economic crises in Europe there is need to develop close ties between Spain and Pakistan and get mutual benefits.Pakistan can help Spain to expand its trade to Central Asian Countries, China, India and Middle East while Spain in turn could help Pakistan to expand its trade with European countries, in transfer of technology, human resource development, import of human resource to Spain etc.

He also proposed signing of MoU between KCCI and Barcelona or Madrid Chamber of Commerce to enhance exchange of trade information, trade delegations.KCCI can support in organizing single exhibition of Spain in Pakistan, he proposed to Ambassador.President KCCI, through Spanish Ambassador invited Spanish companies to participate in KCCI’s 10th International My-Karachi Exhibition to be organized in July 2013 whereby an International Pavilion is planned for B2B and B2C meetings.

He apprised about the vital role of KCCI in the socio-economic development of Pakistan and to promote trade and industry in Karachi and elsewhere.Javier M. Carbajosa Sanchez, Ambassador of Spain to Pakistan endorsed that prospects to enhance Pak-Spain Trade do exist. Political relations between two countries were good however, trade relations need to be enhanced.Media portrays an unfair picture and perception of Pakistan which is different from reality, he observed.

To attract investment, safety security, political stability, infrastructure and utilities are of prime importance. He noted that many Eurozone countries were facing economic slowdown, however he said that Spain will revive its economy on fast-pace.He informed that Spain is world-leader in renewable energy in wind, solar, etc. and Spain produces 23 percent energy from renewable sources which is highest in Europe.

Spanish Cellular phone service provider O2 first cellular service provide in Europe. Asia was traditionally not a commercial priority, however, Spanish companies are now concentrating on Asian markets. Cooperation can be materialized in the areas of fashion textiles, banking, shipping, transportation, pharmaceutical, dairy, fruits etc.

According to KCCI Press Release, trade relations between Spain and Pakistan have maintained an upward trend in the last decade. Spanish exports have doubled in last ten years, reaching 134 million euro in 2011, showing a steady progress, though still much journey ahead.Imports enhanced from 194 million euros in year 2000 to 429 million in 2011.Senior Vice President KCCI Shamim Firpo, Vice President Nasir Mehmood and Managing Committee Members also participated in the meeting. – Brecorder