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Spain keen on joint ventures in Pakistan.

Spain Keen on Joint Ventures in Pakistan

Leader of the 10-member trade delegation of Madrid Chamber of Commerce and Industry Fernando Maudo has said that Spain is keen to establish joint ventures in the fields of engineering, energy and agro-based industry with Pakistan. Speaking at a meeting of Lahore Chamber of Commerce and Industry (LCCI) he said the Madrid Chamber has taken lead to fill in the communication gap between the two countries, by visiting Pakistan for negotiations with its counterparts about increasing bilateral trade and possibilities of joint ventures.

He stressed upon the need for rapid exchange of trade delegations between Pakistan and Spain. He said that abundant of changes have taken place in the economic system of Spain. It has become more potential and liberal for the developing countries. he added. He said there is a wide range of opportunities for joint ventures between the two countries which needs a little attention from both sides for real exploitation.

Replying to a question, he said that emergence of European Common Market by 1993 would enhance trade opportunities for the developing countries. To another question, Maudo said that the Spain was 3rd amongst such countries which are spending huge funds on research and development activities. He maintained that the research was a must for economic and technological development of a country.

In his address of welcome Salahuddin Ahmad Sahaf, SVP of the LCCI in his address of welcome, apprised the Spanish delegation about the liberal economic policies recently announced by the present government. Regarding bilateral trade, he said that during the last financial year 1990-91. Pakistan's exports to Spain stood at Rs. 2.2 billion while imports from Spain were Rs. 1.5 billion, with a surplus of Rs. 764 million in our favour. The main exports to Spain from Pakistan include raw cotton, leather and leather products.
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Publication:Economic Review
Date:Nov 1, 1991
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