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Business Recorder
08-05-2025
- Business
- Business Recorder
Businessmen voice their unwavering support to govt, armed forces
KARACHI: The entire leadership of the Karachi Chamber of Commerce & Industry (KCCI), all seven industrial town associations, sector-specific associations and prominent business leaders expressed complete solidarity and unwavering support for the government and the Armed Forces of Pakistan in the wake of the recent unprovoked and cowardly missile strikes by India targeting civilian areas in Pakistani territory. Addressing at a joint a press conference along with representatives of all seven industrial town associations and several other associations at KCCI on Wednesday, the business leaders said that they condemn the blatant act of aggression carried out by the Indian military, which resulted in the loss of innocent civilian lives, including women and children, and caused damage to mosques, homes, schools, and public infrastructure. These strikes are not only in violation of international law, but also represent a deliberate attempt to destabilize regional peace and provoke Pakistan into a broader conflict, they added. Chairman BMG Zubair Motiwala, President KCCI Muhammad Jawed Bilwani, Senior Vice President Zia ul Arfeen, Vice President Faisal Khalil Ahmed, Prominent Businessman Aqeel Karim Dhedhi, President Site Association of Industry Ahmed Azeem Alvi, President FB Area Association of Trade & Industry Sheikh Muhammad Tehseen, representative Korangi Association of Trade & Industry Rehan Jawed, Representative Bin Qasim Association of Trade & Industry Naveed Shakoor, former presidents Younus Muhammad Bashir and Junaid Esmail Makda along with KCCI Managing Committee members were also present on the occasion. Chairman BMG Zubair Motiwala stated that let there be no doubt that Pakistan is a peace-loving country, as our leadership, armed forces, and people have always advocated for dialogue, coexistence, and diplomacy. As representatives of one of Pakistan's largest and most influential business communities, Chairman BMG said that we declare our complete and unwavering support for the armed forces of Pakistan. 'We salute their professionalism, courage, and unwavering commitment to defending our homeland. Their timely and effective response has not only demonstrated military readiness but has also uplifted the morale of the entire nation,' he added. 'In times of national crisis, unity is our greatest strength. We call upon the business community across Pakistan — from Karachi to Khyber, and from Gwadar to Gilgit — to set aside all differences and stand together for the greater cause of defending our beloved country,' Motiwala stressed, adding that now is not the time for division, it is the time to show the world that Pakistan stands united — one nation, one people, one voice. He said that KCCI has always believed that economic stability is national stability, hence, they have worked tirelessly for decades to build a stronger Pakistan by empowering industry, supporting exports, creating jobs, and contributing to the national exchequer but in times of war or crisis, the entire strength of the business community is devoted first and foremost to national defense. 'If required, we are ready to contribute our resources, networks, and influence to support national preparedness through relief efforts or strategic planning. We assure the government and armed forces that the business community is not only willing but honored to play its part in this patriotic duty,' he added. He also appealed to the entire business community, trade associations, institutions, and industries to stay prepared for any eventuality by quickly adopting the civil defense norms and carrying out exercises for the same. President KCCI Muhammad Jawed Bilwani appealed the international community, particularly the United Nations, Organization of Islamic Cooperation (OIC), China, USA, Russia, and European Union, to take immediate and decisive action to de-escalate tensions. 'It is essential that global powers intervene to prevent further loss of life, restore calm to the region, and hold the Indian government accountable for its deliberate targeting of civilian populations, a grave breach of the Geneva Conventions and all international norms of conflict,' he added. He said that Pakistan's armed forces have consistently displayed strategic restraint and responsibility, but they are not to be tested. 'We never initiate aggression, but will always respond to it decisively and with dignity. This is a time for our adversaries to understand that the spirit of Pakistan cannot be broken,' he added. While acknowledging the sacrifices of the martyrs and the steadfastness of our people, Jawed Bilwani said that the resilience shown by families who lost loved ones in these strikes, by soldiers on the front lines, and by citizens living near the Line of Control (LoC) is nothing short of heroic. Copyright Business Recorder, 2025
Express Tribune
16-04-2025
- Business
- Express Tribune
Iraq proposes Karachi-Basra sea link to boost trade with Pakistan
In this handout photo taken and released by the Karachi Chamber of Commerce & Industry on April 16, 2025, Iraq's Consul General Maher Mjhid Jejan (4L) receives a souvenir from officials during his visit to the KCCI office in Karachi. Photo: Handout/KCCI Listen to article Iraq has proposed establishing a maritime link between its southern port city of Basra and Pakistan's commercial hub, Karachi, as part of a broader effort to strengthen trade and logistics between the two nations, the Karachi Chamber of Commerce and Industry (KCCI) announced on Wednesday. The proposal was put forward by Iraq's Consul General, Maher Mjhid Jejan, during a visit to the KCCI office, where he met with senior representatives to discuss ways of enhancing bilateral business ties. 'A sea link between Basra and Karachi could play a key role in bringing the business communities of both countries closer together,' the KCCI said in an official statement. 'This connection could improve logistics and strengthen trade routes.' The proposal comes at a time when Pakistan and Iraq have witnessed a notable uptick in bilateral engagement, particularly at the ministerial level. In recent years, the two countries have initiated dialogues on enhancing cooperation in defense, counterterrorism, intelligence-sharing, and counternarcotics. Pakistan, facing economic headwinds, has ramped up efforts to deepen trade and investment ties with regional allies. The government is actively promoting partnerships in key sectors as part of its strategy to attract foreign investment and boost sustainable economic growth. Jejan briefed KCCI officials on Iraq's newly introduced investment laws, specifically designed to attract foreign investors. He assured the Chamber that these legislative changes would be shared with Pakistani stakeholders to help them better understand and leverage the emerging opportunities in Iraq. Recognizing the quality of Pakistani exports, the Iraqi diplomat encouraged greater participation from Pakistani exporters and investors in his country's growing market. He noted that Iraq is experiencing rapid development and offers 'immense potential' for trade and investment, inviting Pakistani business leaders to visit Iraq and witness the 'peaceful and stable environment' firsthand. During the meeting, KCCI Senior Vice President Zia ul Arfeen shared trade figures, noting that Pakistan's exports to Iraq stood at $54.29 million in the fiscal year 2024, while imports from Iraq totaled $145.46 million. He described this volume as significantly below the true potential, urging both sides to simplify customs procedures, enhance the ease of doing business, and diversify tradable goods and services. Arfeen also floated the idea of establishing an oil pipeline between Basra and Pakistan's southwestern port city of Gwadar, suggesting it could serve as a critical trade corridor for Iraq, facilitating access to broader Asian markets.
Express Tribune
09-04-2025
- Business
- Express Tribune
Italy eyes doubling trade with Pakistan to $3b
Listen to article The Consul General of Italy in Karachi, Fabrizio Bielli, has emphasised the need to strengthen bilateral economic, trade, and investment ties between Italy and Pakistan, aiming to double the current trade volume to at least $3 billion in the coming years. According to a press statement released on Wednesday, Bielli highlighted Karachi's vast economic potential during a visit to the Karachi Chamber of Commerce & Industry (KCCI), describing it as a city full of untapped opportunities, especially in energy, agriculture, water recycling, and industrial machinery. "Italy is a global leader in producing high-quality machinery for the textile sector as well as advanced medical equipment, including incubators for new-borns. We are in a strong position to support Pakistan in addressing its growing healthcare infrastructure needs," he said. Having assumed office just two months ago, Bielli expressed keen interest in exploring Karachi's economic landscape and urged KCCI to submit a sectoral requirement report three times a year. "This document will help us channel key insights to the relevant sectors in Italy, enabling Italian institutions and businesses to better understand the opportunities available in Karachi and across Pakistan", he said. He also encouraged Pakistani businesses to utilixe the Italian Trade Promotion Section at the Consulate, which actively supports small and medium-sized enterprises. "More than just a window, a door is open at the Italian Consulate for promoting trade and investment ties," Bielli stated. "Let's work together to identify opportunities and strengthen economic and commercial relations between our two countries." KCCI Senior Vice President Ziaul Arfeen noted that bilateral trade crossed $1.6 billion in FY24, with Pakistan's exports to Italy reaching $1.12 billion. Arfeen said the recent hike in US tariffs presented a chance for Pakistan to deepen ties with partners like Italy.
Express Tribune
27-02-2025
- Business
- Express Tribune
Korea-Pakistan economic talks to begin this year
Listen to article Referring to the recent announcement by Pakistan's Commerce Minister and Korea's Trade Minister during Jam Kamal Khan's visit to Korea on January 9, the Ambassador of the Republic of Korea, Park Ki Jun, indicated that negotiations for the Korea-Pakistan Economic Partnership Agreement (EPA) are likely to begin in the first half of this year, laying a new institutional foundation for promoting economic exchanges between the two countries. "We must now move beyond friendship and develop a mutually beneficial partnership," he stated while speaking at a meeting during his visit to the Karachi Chamber of Commerce & Industry (KCCI). Underscoring the untapped potential for deeper Korea-Pakistan collaboration, Jun pointed out that Pakistan boasts rich natural and human resources, while Korea offers advanced technology and economic expertise. This combination, he stated, creates opportunities for complementary cooperation. "Korea views Pakistan as a fast-growing economy with a youthful population, making it an attractive destination for Korean businesses." Encouraging Pakistani businesses to explore opportunities in Korea, Jun urged them to visit Korea for market research and direct engagement with business leaders in Seoul. He assured that the Korean Embassy is committed to incorporating insights from the business community and maintaining close communication with KCCI to further economic collaboration. He highlighted Karachi's strategic importance as an economic hub, noting that the city handles over 90% of Pakistan's cargo shipments and offers well-developed industrial infrastructure. "Currently, eight Korean companies operate in Karachi, whereas around 200 Korean citizens reside in this city. Karachi could play a leading role in strengthening economic ties between the two countries, with KCCI playing an active part in expanding trade and investment," he said. The Korean ambassador further noted that Pakistan's government has been making significant efforts to address economic challenges and drive sustainable growth. "As a result, the country's economy showed positive performance last year, with improvements in key macroeconomic indicators. These included a drop in inflation to around 5%, an 8% rise in foreign exchange reserves, and a 46% increase in foreign direct investment," he said. Encouragingly, bilateral trade between Korea and Pakistan also grew by 27% in the first half of last year. Furthermore, he welcomed the Pakistani government's five-year economic development plan, Uraan Pakistan, which prioritises exports, e-Pakistan (digital transformation), environment and climate change, energy and infrastructure, and equity. He expressed confidence that this initiative would set a strong foundation for Pakistan's long-term growth, benefiting both local businesses and foreign investors, including Korean companies.
