These views were expressed by the head of an 11-member EU parliamentary delegation, Neena Gill, while speaking at the Lahore Chamber of Commerce and Industry on Wednesday.

LCCI President Shahid Hassan Sheikh, Senior Vice President Yaqoob Tahir Izhar, former Senior Vice President Sohail Lashari, Executive Committee members Sh Shafique Riaz, Syed Umair and Sh Mohammad Riaz also spoke on various issues coming in the way of Pakistan’s trade with the EU countries.

The head of the delegation, while appreciating the economic reforms initiated by the government, said “this is a right time that the chambers of commerce in Pakistan should establish linkage with the EU chambers to increase the volume of two-way trade.”

She said that the EU acknowledged Pakistan’s efforts for poverty alleviation and economic revival but there was a need to take more steps for improving its perception in the eyes of foreign investors.

The EU delegation consisted of Edward Mcmillan-Scott, Josef Leinen, Robert Evans, Philip Kamaris, Claudia Schwendenwein, Ruth De Cesare, Balthasar Benz and Parliamentary Secretary Rozina Tufail.

Speaking on the occasion, the LCCI President Shahid Hassan Sheikh said that enhancement in trade and investment between Pakistan and EU countries was possible through active engagement of the chambers of commerce and industry of the two sides and frequent exchange of economic and trade delegations as this would help identify areas of mutual interest.

Participation of Pakistani exporters in international trade fairs in the EU and vice versa could also expand trade between the two countries.

He said “the real problem is the denial of market access to Pakistani products. The level of trade between the two sides can be increased significantly by giving greater market access to Pakistan by removing anti-dumping duties imposed at the rate of 5.8 per cent by the European Union on the export of bedlinen, and doing away with subsidies provided by the EU to its agriculture sector.”

Shahid Hassan Sheikh informed the delegation that doing business in Pakistan was comparatively easy compared to other South Asian nations. Pakistan has been the runner-up reformer in South Asia this year.

He said that Pakistan’s growing economy, its strategic location as a regional gateway to Central Asian Republics, large consumer market, abundant natural resources, cheap but skilled labour and liberal investor-friendly policies offered immense opportunities to foreign investors.

The LCCI president said that potential sectors of interest for the EU investors could be fruits and vegetables, livestock and dairy development, fisheries, horticulture, storage facilities for agri-products, textiles, garments, leather and leather products, chemicals, electrical and electronic appliances, oil and gas, IT and infrastructure projects such as hydro electric power generation, ports and port handling, civilian nuclear technology, etc.