Pakistan Trade Centre Singapore to start operating soon!

Society Pakistan & World Affairs
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Source: APP

ISLAMABAD, Dec 22, 2002 (APP): A Spokesman of the Board of Investment (BoI) said on Sunday that arrangements to set up a modern trade Centre duly equipped with the latest business technologies at Singapore, are in the final stage and the venture named as “Pakistan Trade Centre Singapore” shall go into full operation with the dawn of the new year.
Describing the Centre as a matching addition to the potent and vibrant markets of the Far Eastern Region, the spokesman said that the Centre would conquer new peaks for the Pakistani trade and business
community in their march towards the new century of macro, business and economic warfare.
He said that in order to further strengthen and stabilize the bilateral trade and business relations between Pakistan and Singapore, the BoI have recently conducted a conference on “Business Opportunities In
Pakistan” in collaboration with the International Trade Institute of Singapore (ITIS) and Singaporean Confederation of Industries (SCI) at Singapore.
It was during this conference, attended by over 300 local and regional businessmen and industrialists, that the arrangements as to the immediate operation of the Centre were reviewed, the spokesman added.
The spokesman said that a high level Singaporean trade delegation is scheduled to visit Pakistan from January 12 to 17, 2003 and during the course of their deliberations, methods and modalities facilitating
bilateral trade between Pakistan and Singapore shall be chalked out.
He said that much like EPB Centers at Tokyo, Hong Kong, the Pakistan Trade Centre Singapore will broaden the base of national trade to the markets still unexplored in the region.
The Spokesman also explained that while briefing the business delegates at the Conference, the Chairman BOI, Mr. Waseem Haqquie said that the Centre will not only operate as a unique model of its nature but would also work as showcase to reflect Pakistani’s rich business potential and attractive investment climate to the five leading economic markets in the region.
Responding to the matching incentives offered under new Investment Policy of Pakistan (IPP), the leading business figure of Singapore Mr. Tan Song Chuan said that Pakistan offered a safe gateway for the trade routes to ME and Central Asia via Afghanistan and the Far Asian Trade Circles would not let the Chance go
un-availed of.
During the conference, the spokesman said that a Singaporean Business man Mr. Steven Ong was appointed Pakistan’s Honorary Counselor for Investment.

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Excellent news! :k:

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Trade will be start with the Dawn of New Year!

Pakistan Trade Centre Singapore to be Operative Soon: BoI

ISLAMABAD, Dec 22: A spokesman for the Board of Investment (BoI) has said the Pakistan Trade Centre Singapore would be operative with the dawn of the new year.

A press release issued on Sunday said that arrangements to set up a modern trade centre, duly equipped with the latest business technologies in Singapore, were in the final stage.

Describing the centre as a matching addition to the potent and vibrant markets of the Far East, the spokesman said that the centre would conquer new peaks for the Pakistani trade and business community in the march towards the new century of macro, business and economic warfare.

He said that in order to strengthen and stabilize the trade relations between Pakistan and Singapore, the BoI had recently conducted a conference on “Business Opportunities in Pakistan” in collaboration with the International Trade Institute of Singapore (ITIS) and Singaporean Confederation of Industries (SCI) in Singapore.

During the conference, attended by over 300 local and regional businessmen and industrialists, the arrangements about the centre’s immediate operation were reviewed, the spokesman added.

He said that a high level Singaporean trade delegation was scheduled to visit Pakistan from Jan 12 to 17, 2003 and during the course of their deliberations, methods and modalities facilitating bilateral trade between Pakistan and Singapore would be chalked out.

The spokesman said that like EPB centres at Tokyo, Hong Kong, the Pakistan Trade Centre Singapore would broaden the base of the national trade to the unexplored markets in the region.

He also explained that while briefing the business delegates at the conference, the chairman of the BoI had said that the centre would not only operate as a unique model of its nature but also **work as a showcase to reflect Pakistanis’ rich business potential and attractive investment climate to the five leading economic markets in the region. **

Responding to the matching incentives offered under new Investment Policy of Pakistan (IPP), the press statement said that a leading business tycoon of Singapore, Tan Song Chuan, said that **Pakistan offered a safe gateway for the trade routes to Middle East and Central Asia via Afghanistan and the far Asian trade circles would not let the chance go un-availed. **

During the conference, the spokesman said that **a Singaporean businessman, Steven Ong, was also appointed as Pakistan’s Honorary Counsellor for Investment. **

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Singapore’s chances of investment in Pakistan, likely in April.

Singapore mission may sign MoU to invest in Pakistan

KARACHI: A 17-member Singapore Trade Mission, which arrived in Karachi Monday morning, is looking for investment opportunities in construction, telecommunication, packaging, e-commerce and the services sector amongst others, said Dr Toh See Kiat, president, Singapore-Pakistan Development Forum and leader of the delegation, at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Monday.

The delegation may a sign Memorandum of Understanding (MoU) or an agreement during its visit to Pakistan, Mr Kiat said. Another Singapore delegation will be visiting Pakistan in April 2003, he said.

A group of business representatives is also exploring establishing a mobile phone manufacturing company in Pakistan. Mr Kiat said **this mission is one of the largest trade delegations visiting Pakistan after September 11, 2001 and the subsequent war in Afghanistan. Singapore, with its imports of $106 billion per annum, could prove a huge market for Pakistani products, ** he said.

Mr Kiat hinted that there is great potential for importing rice, fruits and other items from Pakistan. He stated that the Singaporean government is offering huge incentives for investment in the sectors of oil and gas, electronic commodities and, biotechnology but added that no incentives were given to trading companies.

Tariq Ikram, chairman, Export Promotion Bureau (EPB), while comparing the export capabilities of both countries, said that Singapore’s exports constitute 140 percent of GDP as compared to only 15 percent of Pakistan’s exports.

Riaz Ahmed Tata, president, FPCCI, highlighted the economic measures being undertaken in Pakistan and said that Pakistan’s strategic location provides a spring board for Singaporean entrepreneurs to explore the vast markets of Afghanistan, Central Asian states, the south western regions of China and, Gulf states.

He indicated that Singaporean investors could establish joint ventures with their Pakistani counterparts in infrastructure development, the service industry, shipping, electronics and, the computer software and engineering industry.

Trade mission visits KSE: A fourteen-member trade mission from Singapore visited the Karachi Stock Exchange (KSE) on Monday to discuss Pakistan’s capital markets and investment opportunities.

Mr Moin M. Fudda, Managing Director, KSE welcomed the delegation to the exchange and apprised them about the major changes in the regulatory reforms, investor protection and transparency of the system. Mr Fudda also talked about the major reasons for the market appreciation including economic reform, the inflow of funds from non-resident Pakistanis, and the high liquidity caused by declining interest rates.