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Sukhera invites Spanish companies for JVs with Pakistani counterparts

ISLAMABAD, May 21 (WNP): Commerce Secretary Sardar Ahmad Nawaz Sukhera Tuesday invited Spanish companies to visit Pakistan and hold business to business meetings and also to setup joint ventures (JVs) with Pakistani counterparts.
There are huge opportunities for Spanish investors to take advantage of the Pakistani market as well as of the Chinese after China-Pakistan Free Trade Agreement (FTA) Phase-II, he said this in a called on meeting with Ambassador of Span to Pakistan Manuel Durán Giménez-Rico here.
The ambassador welcomed the suggestion and assured that such B2B interaction between both business communities would be encouraged. The commerce secretary thanked the ambassador for Spain’s continued support to Pakistan in acquiring and maintaining European Union’s, Generalized System of Preferences (GSP)- Plus status.
He also highlighted that prior to GSP Plus status, the bilateral trade between the two countries was US$851 million which has now crossed the one billion mark and currently stands at US$1.18 billion.
Pakistan’s exports have increased from US$707 million in 2013-14 to US$965 million in 2017-18, he said.
He said similarly, our imports from Spain have also jumped from US$144 million to US$215 million.
While expressing satisfaction over the consistent rise in bilateral trade, the ambassador assured that Spain would continue to support Pakistan in retaining GSP Plus status and enhancing bilateral trade.

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