Ambassador Domingo Lucenario, Jr. met with officials of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) led by its President Mr. Shaheen Ilyas Sarwana in Karachi City, Sindh Province on 25 April 2013 to discuss ways on further enhancing Philippines-Pakistan economic relations.
The Ambassador and the FCCI President discussed various ways of increasing the modest trade volume between the two countries such as, among many other activities, the holding of a focused Philippine trade exhibit in Pakistan, frequent exchange of business delegations from both countries, active participation of businessmen from both sides on major trade exhibits, reinvigorating the partnership between the FPCCI and the Philippine Chamber of Commerce and Industry (PCCI) and the facilitation of visa issuance to bonafide businessmen.
Both the Ambassador and the FPCCI President expressed optimism that with the renewed close collaboration between the Embassy and the Federation and the pro-active holding of activities intended to encourage trading of goods and services in both countries, there will be a continuing positive growth in bilateral trade.
Trade volume between the Philippine and Pakistan amounted to around US$114 million in 2012. Philippines exports to Pakistan consisted of accessories and other parts of motor vehicles, oil cake and other solid residues, preparations of vegetables, fruit, nuts or other parts of plants, electrical machinery and equipment and parts thereof, mineral fuels and mineral oils, among others. Philippine imports from Pakistan include un-denatured ethyl alcohol, medicaments of products for therapeutic or prophylactic uses, unmanufactured tobacco or tobacco refuse, and other pharmaceutical products, among others. The Philippines also remains a good market for Pakistan’s rice, cotton, and cereal.
Ambassador Lucenario also welcomed the information conveyed by the FCCI President that the FPCCI Pakistan-Philippines Committee will soon be re-organized which will focus on intensifying Philippine-Pakistan economic relations in close coordination with the Philippine Embassy.
Established in 1950, the FPPCI is a private umbrella trade organization composed of 48 Chambers of Commerce and Industry in Pakistan. It has links to more than 100 trade associations in the country and has 100 sub-committees under its wing.