LAHORE - Agriculture, Livestock and Education are the key sectors wherein Pakistani businessmen can take advantage of Australian technological advancements to play their role for economic turnaround of the country. This was stated by Ms Ayesha Bux, Pakistans Honorary Investment Consul in Australia, who was heading a two-member delegation, while speaking at Lahore Chamber of Commerce and Industry. LCCI Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar gave an update to the visiting delegation on Pakistans economy and available opportunities here. The other members of the delegation Ms Glenys and Mr Adams gave detailed presentations on as to how joint ventures could be initiated with Australian businessmen. The LCCI Executive Committee Members Dr. Shahid Raza, Kh. Khawar Rasheed and Nasira Taskeen were also present on the occasion. The Honorary Consul said that by joining hands with Australian experts, Pakistani businessmen would be in a better position to tackle economic issues being faced by them due to global recession. The Investment Consul said that Pakistani businessmen would have to make frantic efforts for improving the image of the country because a number of investors were reluctant to make investment in Pakistan. Speaking on the occasion, the LCCI Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar said that the role of chambers of commerce & industry, honorary consuls, sector specific associations cannot be underestimated. They are performing their responsibilities satisfactorily with regard to expanding the trade links. Total two-way trade as compared with $578 million in 2007, was $659 million in 2008-09. It has been heavily favoring Australia as Pakistans imports and exports were worth $478 and $181 respectively. They said that the recent statement given by Australian High Commissioner to Pakistan, Tim George during the meeting of Overseas Investors Chamber of Commerce & Industry held in Karachi is really encouraging. He said that Australian government intended to bring its investors, particularly those based in Dubai, to Pakistan. The LCCI office-bearers said that an Australia-Pakistan bilateral trade agreement has been in force since 12 July 1990. The agreement commits both parties to facilitate, strengthen and diversify trade. Australia and Pakistan have a Joint Trade Committee mechanism to discuss opportunities to expand bilateral trade and investment. We are hopeful that this forum will spearhead the efforts of increasing economic and trade relations between two countries. They said that the model of striking franchise deals with the multinational companies whose brands have gained international recognition over the years, is quite successful here in Pakistan. We from the platform of Lahore Chamber of Commerce and Industry are here to facilitate such initiative and can be involved from first to last stage in order to ensure conformance. They said that Australia and Pakistan are actively exploring avenues to expand trade and investment, particularly through agro-business and agricultural science linkages. There are prospects for growth in trade and investment particularly in the field of agribusiness, education, mining for oil and gas exploration, IT & Communications and development of processed foods etc. The LCCI office-bearers said that the future sectors that may provide opportunities for Australian trade and investment in Pakistan include medical technologies, infrastructure investment and energy technologies etc. With extensive natural resources, including oil and natural gas reserves, the fourth-largest coal reserves in the world and potential for hydropower, Pakistan offers opportunities for Australias mining expertise.