LAHORE - Two-way trade between Pakistan and Finland is losing its momentum from the last three years which must be reverted. In 2014, the volume of total trade was dollar 121 million that dipped to dollar 90 million in 2016.

These views were expressed by the LCCI President Malik Tahir Javaid while talking to the honorary Consul General of Pakistan to Finland Wille Eerola here at the Lahore Chamber of Commerce & Industry. Senior Vice President Khawaja Khawar Rashid, Vice President Zeshan Khalil, Tahir Manzoor Chaudhry, Shahbaz Aslam, Adnan Khalid Butt, Raja Adeel Ashfaq, Syed Mukhtar Ali and others were also present on the occasion.

Tahir said that in 2014, Pakistan exported goods to Finland worth dollar 60 million which dropped to dollar 27 million in 2016. It will not be wrong to say that such a low level of two-way trade does not reflect the actual potential of trade between two countries.

He said that business communities on both sides need to improve their linkages and the frequency of general, multi-sectoral and sector-specific exchanges. Similarly, in order to explore and capitalize on all present and future bilateral trade opportunities, we have to keep regular follow up.

The LCCI president said that joint venture opportunities exist in the field of power generation and for development of biomass technology.

He said Finnish equipment and technologies can help exploit Pakistan's full potential in agriculture, horticulture, dairy and livestock sectors.

The LCCI president suggested that it is necessary that both countries have access to each other's markets to further expand commercial and economic ties. This will definitely lead both sides to a more strengthened and stable economic partnership. He said that LCCI values to have greater interaction with Finnish counterparts in order to develop close linkages. He said that Pakistan can partner with Finnish technological think tank for development of technological industry in Pakistan.

He said that over 400 Finnish companies are currently operating in South Asian Region and had made substantial investment in the last ten years in this part of the world and business community here is of strong hope that more Finnish investors would divert their attention towards Pakistan in coming days.

Wille Eerola said that Finland and Pakistan have a huge scope to expand relations in various sectors of the economy therefore the private sector in Pakistan should enhance its interaction with Finnish counterparts.

He said that the existing trade volume between Pakistan and Finland is enough to make the point that both sides have multifaceted and strong trade ties.

He said a number of Finnish companies had already recognized Pakistan's potential and are working here.