Thaindian News

Islamabad, July 29 (IANS) South Africa is keen to build economic partnerships with Pakistan, and wants bilateral trade to cross $1 billion in a couple of years, a top South African official has said.

Cassim Peer, acting high commissioner of South Africa in Pakistan, said his country is making all out efforts for increase in interaction between the two nations’ business communities, Online news agency reported.

Peer told the Lahore Chamber of Commerce and Industry (LCCI) that Pakistan had tremendous potential for South African businessmen but they could not make any inroads because of unavailability of proper trade related information.

He said both the countries could increase cooperation in mining, steel, auto, chemical and plastics, engineering and technology sectors.

LCCI acting president Sheikh Mohammad Arshad agreed there was great potential for expansion of trade between the two countries, and that Pakistani industrialists could set up textile units in South Africa to cater to the African market.

“There are ample opportunities for Pakistani businessmen in information technology, mining, agriculture and other sectors, at a time when Chinese and Indian companies are capturing the South African market,” he said.

The two officials agreed that although bilateral trade was growing at a significant rate, if both countries take strong initiatives, it would not be difficult to “reach the $1 billion mark in a couple of years”.

The Pakistani official asked the South African acting high commissioner to consider joint ventures in Pakistan in the engineering sector.

He said South Africa can boost its exports to Pakistan with items like chemicals, gold, diamonds, platinum, metals, minerals and machinery.

He said Pakistan can increase its export of products like surgical equipment, rice, sports goods, engineering goods, sanitary goods, auto parts to South Africa.