Ambassador of Romania Emilian ION has stressed the need for strengthening trade and economic relations between the two countries.

He was speaking at the Lahore Chamber of Commerce & Industry on Saturday. LCCI Senior Vice President Mian Nauman Kabir and Vice president Syed Mahmood Ghaznavi also spoke on the occasion while former Senior Vice President Mian Tariq Misbah and Executive Committee Members were present on the occasion. Romanian Ambassador said that exchange of trade delegation can help boost the bilateral trade between the two friendly countries. He said that Pakistan and Romania can enhance their cooperation in the fields of agriculture, alternate energy sources and information technology.

 He urged the business community to evolve an effective and sector-specific strategy in collaboration with Romanian businessmen for increasing the volume of two-way trade.  

He said that fast-changing global scenario demands an enhanced economic activity and exchange of trade delegation and joint exhibitions are pre-requisite in their regard.  Speaking on the occasion, LCCI Senior Vice President Mian Nauman Kabir said that Pakistan and Romania enjoy cordial relations.

Because of their strategic locations, both the countries enjoy vital statuses in their respective regions. He said that Pakistan is an important country in South Asia whereas Romania being the sixth largest country in Eastern Europe is quite an important state in its own region.

He said that over the years Pakistan and Romania have developed close trade and cultural relations. But there is definitely larger potential to develop more between both the countries. He said that the natural resources and talent with which both these countries are blessed with, definitely raises the need for strengthening of stronger bilateral relations.

LCCI SVP said that the two countries have prospects in different trade and investment sectors. He said that the main ones are agriculture, information technology, energy, housing, industries, engineering and construction.

He said that during the 2000s, Romania enjoyed one of the highest economic growth rates in Europe and has been referred at times as “the Tiger of Eastern Europe.

He said that both the countries can be beneficial to each other in many fields. He said that Romanian government can assist Pakistan in brand development especially of sports goods and pharmaceutical products.

He said that the governments of both the countries should patronize the efforts of businessmen for boosting economic ties. The current volume of trade of $200 million does not reflect current potential between the two countries.

“Pakistan’s exports to Romania in the year 2013 have been US $ million 22.070. Whereas Pakistan imports from Romania in the year 2013 have been US $ 76.903 million. Pakistan’s major exports to Romania are cotton, manmade staple fibres, textile articles, worn clothing, raw hides and skin, articles of leather, travel goods, footwear, Oil seed, fruits, grain, seed and fruits, etc. Pakistan’s major imports from Romania are wood and articles of wood, wood charcoal, mineral fuels, oils, articles of iron or steel. Machinery, nuclear reactors, organic chemicals, electrical products, pharmaceutical products, articles of rubber and furniture etc.”

He said that exchange of delegation is an important tool in enhancing trade and commerce. Students, researchers and medical experts should be exchanged as well.

Romania still faces issues related to infrastructure and medical services. Pakistan’s expertise in these fields can be definitely quite helpful.

He said that tourism is a significant contributor to the Romanian economy, generating around 5% of GDP. According to the World Travel and Tourism Council, Romania was estimated to have the fourth fastest growing travel and tourism total demand in the world.