LCCI-FPCCI join hands for trade, economic diplomacy

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The Lahore Chamber of Commerce (LCCI) & Industry and Federation of Pakistan Chambers of Commerce & Industry (FPCCI) have joined hands and would work collectively to flourish trade and economic activities in the country.
The decision was made during the visit of FPCCI President Mian Anjum Nisar to the Lahore Chamber of Commerce & Industry on Thursday. LCCI President Irfan Iqbal Sheikh, Senior Vice President Ali Hussam Asghar, Vice President Mian Zahid Jawaid Ahmad also spoke on the occasion. Current economic scenario and challenges being faced by the trade and industry came under discussion.
FPCCI President Mian Anjum Nisar said that the public-private partnership was the premium solution of the challenges being faced by the business community and was also a good recipe for economic revival of the country.
Mian Anjum Nisar said that improving exports’ performance remained the most relevant long-term structural challenge to alleviate the balance-of-payments constraint to sustain economic growth. He said that the current export portfolio was due to a lack of diversification, as few products were being exported by some exporters to limited markets. So, a major enhancement in exports required huge and wide structural reforms.
He suggested the relevant government departments to join heads with the private sector for finding out a methodology for increasing the exports of the country. He observed that a more diversified economy results in more diverse exports, and this was required to acquire the wider set of productive capabilities that was needed to export goods with a higher level of sophistication.
LCCI President Irfan Iqbal Sheikh emphasized the need for economic diplomacy to cement Pakistan’s trade and economic ties with the outer world. He said that Pakistan cannot remain in isolation in the present economic arena where all countries were working hard to contribute heavily and to get maximum share in the international trade.