Ambassador of Norway Per Albert Ilsaas has said on Sunday that Norway has advanced expertise in automobile, IT and renewable energy sectors. Private sector of Pakistan can step into joint ventures (JVs) in these specific sectors with their Norwegian counterparts.
He was speaking here at the Lahore Chamber of Commerce & Industry (LCCI) where, LCCI President Mian Nauman Kabir, Senior Vice President (SVP) Mian Rehman Aziz Chan, Vice President (VP) Haris Ateeq, Honorary Consul of Norway Naveen Fareed also spoke on the occasion.
The ambassador said: “Norway is small country and its population is less than the population of Lahore. Pakistan and Norway have excellent bilateral-relations and both countries have great potential to expand mutual-trade and economic ties,” he added.
Ambassador of Norway Per Albert Ilsaas said, “Norway is one of the major manufacturer of electric vehicles in the world and its automobile and renewable energy sectors are also advanced. Pakistan can benefit from the expertise of Norway in these sectors.”
He emphasised the need for expanding cooperation in the fields of information technology and telecommunication. He assured his full cooperation for the promotion of trade between the two countries.
LCCI President Mian Nauman Kabir said, “Norway is a home to many Pakistanis and both countries have excellent relations ranging from diplomatic, cultural and economic relations. We wish to deliberate to further strengthen the economic and trade relations with Norway.” He said, it was good to see that bilateral-trade volume between the two countries was increasing.
According to State Bank of Pakistan (SBP), Pakistan’s exports to Norway were around 58.6 million dollars while imports from Norway were around 41.5 million dollars.
Mian Nauman Kabir said: “Although we enjoy a positive trade balance with Norway, we will certainly like to increase the volume of bilateral-trade by many times and in this connection, the support and guidance of your good office holds great importance.”
LCCI President said that Norway holds a special place in the world economy due to its energy sector.
He said that in this connection, he would like to add that there are tremendous opportunities for Norwegian companies to enter into joint ventures with Pakistan companies, particularly in oil, gas, renewable energy and maritime sectors.
Mian Nauman said that there was also a great scope for Norwegian investors to invest in the agriculture sector of Pakistan as our government was looking to transform the agriculture sector on modern lines through the use of technology.
LCCI SVP Mian Rehman Aziz Chan said that other potential areas where Pakistan-Norway can enhance trade and economic cooperation are mobile phone manufacturing, electric vehicle manufacturing, automotive parts, pharmaceuticals, processed food, and surgical instruments etc.
VP Haris Ateeq said that Special Economic Zones (SEZs) were being established all across the country under China Pakistan Economic Corridor (CPEC) with all the essential infrastructure facilities.
The government was also giving lucrative tax incentives to both the local and foreign investors in these SEZs. He asserted, “We would request you to play a role in apprising the Norwegian companies about these latest developments.”