TVC NEWS, ALGERIA - People's Republic of Algeria was keen to enhance trade with Pakistan as both countries have good potential to promote bilateral trade in different areas, said Algerian Ambassador Lakhal Benkelai while exchanging views with local business community at the Islamabad Chamber of Commerce and Industry (ICCI) on Thursday.
The best way to promote two-way trade was to establish direct contacts between the private sectors of Pakistan and Algeria, he added.
Pakistan could import olive oil, petroleum products and natural gas from Algeria while Algeria could import food and many other consumer products from Pakistan, he said, adding that a bigger trade expo would be held in Algeria from May 28 to June 2 and large number of businessmen from Arab countries, Europe, Africa and Asia were expected to participate in the expo.
He said it was a good opportunity for Pakistani businessmen to attend the expo and explore business opportunities in Algeria, adding that China was making investments in Algeria and Pakistani investors should also explore his country for joint ventures and investment.
The ambassador said physical contacts between the entrepreneurs of both countries were key to explore new avenues of mutual cooperation and stressed that both countries should facilitate interactions between their trade associations and encourage business-to-business (B2B) meetings.
He said ICCI should form a delegation for Algeria and assured that his Embassy would provide all possible cooperation to make its visit result-oriented.
Speaking on the occasion, ICCI President Atif Ikram Sheikh said that Pakistan and Algeria should focus on further strengthening bilateral cooperation as both have the potential to take benefit from each other's geographic locations for reaching to bigger regional markets.
He said bilateral trade between Pakistan and Algeria was quite negligible and both countries should facilitate frequent exchange of trade delegations and participation in each other's trade fairs, which were the optimum tools for promoting bilateral trade and economic relations.
He said many Pakistani products including food, rice, textiles, pharmaceuticals, surgical instruments and leather goods could find good market in Algeria and Algeria should focus on importing these products from Pakistan.