LAHORE – The Spanish Ambassador to Pakistan on Thursday identified energy, textiles, tourism, food products, agro-based products, infrastructure and Spanish cellular technology as the potential areas for joint ventures between Pakistan and Spain.

Ambassador Javier Carbajosa Sanchez was talking to LCCI President Farooq Iftikhar during a meeting here at the Lahore Chamber of Commerce and Industry. LCCI Senior Vice President Irfan Iqbal Sheikh, former LCCI President Mian Muzaffar Ali, former Senior Vice President Malik Tahir Javaid and Executive Committee Member Mian Zahid Javaid and Honorary Consul of Spain Zaheerul Islam also attended the meeting.

In his hour-long meeting at the LCCI, the Spanish Ambassador said that there exists a great scope for cooperation in various industrial sectors between the two countries as well therefore the businessmen in the two countries could join hands for transfer of technology.

He stressed the need for institutionalized relations and said that the Chambers of Commerce in Spain and Pakistan could play a vital role for the promotion of trade relations.

The Ambassador said since Asia is a very big market for EU investors, therefore, Spanish SME sector is diverting its attention towards Pakistan and it is high time that both the countries should take advantage of each other’s expertise in various sectors. He also urged the LCCI office-bearers to bring a business delegation to Spain so the Pakistani business community could assess the situation well.

Speaking on the occasion, LCCI President Farooq Iftikhar said that Milk is a market which contains tremendous potential as Pakistan is the 4th largest milk producer in the world. Export of dairy products and related items is an excellent opportunity to promote bilateral trade relations.

The LCCI President informed the Ambassador that Pakistani rice are best of the best in the world and hence have a huge potential to get a respectable place in Spanish market and a little help by the embassy could help give considerable boost the rice exports to Spain.

Farooq Iftikhar said that production of surgical equipment is a field in which Pakistan has undeniable fame while semi finished products have a potential to be exported to Spain as well.

He said that seed development is an area where Spain has specialized in and Pakistan being an agrarian economy can benefit from the expertise of Spain in this field.

The LCCI President said Pakistan has very conducive atmosphere for foreign investment in terms of cheap labor and availability of raw materials.