Pakistan’s pharmaceutical products has immense scope to enter Lebanon’s market as the country imports costly medicines from different nations, said Ambassador of Pakistan to Lebanon Salman Ather.
He was of the view that a lot of work was needed to introduce Pakistani products in the Lebanese markets to exploit its full potential.
Talking to businessmen at the Lahore Chamber of Commerce and Industry (LCCI) on Monday, the envoy underlined that a wide range of Pakistani products could be exported to Lebanon given that it was a consumer-based market.
“Both countries have plenty of potential to enhance cooperation and form joint ventures in construction, tourism and many other sectors of economy,” he said.
Assuring his full support in strengthening bilateral linkages, he said that virtual meetings between the businessmen of both sides would be arranged.
On the occasion, LCCI President Mian Nauman Kabir highlighted that Pakistan could enhance the exports of surgical instruments, sports goods, footwear, light engineering goods, processed food and automotive parts to Lebanon.
Citing data from the State Bank of Pakistan (SBP), he pointed out that Pakistan’s exports to Lebanon were recorded at $9.6 million in 2020-21, while imports stood at around $2.9 million.
During the first five months of this fiscal year (July-November), Pakistan’s exports to the country stood at around $4.4 million, while imports from Lebanon clocked in at $1 million.
Cargoes to Beirut mainly consisted of rice, pharmaceutical, cotton, textile and plastics, while imports mainly comprised iron and steel, he mentioned.
“There is a immense potential for both countries to enter into joint ventures in the construction sector,” he remarked.
Published in The Express Tribune, January 18th, 2022.