Mr. Michael Ahern TD, Ireland's Minister for International Trade and Irish Ambassador in Islamabad, created a milestone in trade relations between Ireland and Pakistan by leading the first Trade Mission to the Islamic Republic.
Jim Mongey, Min. Michael Ahern
& John Whelan |
The Trade Mission was organised by Enterprise Ireland with the objective of promoting Ireland as a competitive source of world-class expertise, products and business partnerships, and to build on the posirive economic success that is now evident in Pakistan.
Minister Ahem stated: "Irish companies are increasingly keen to develop business relationships throughout Asia and the Irish Government's Asia Strategy is aimed at supporting this development."
He went on to say; "In this era ofglobalisation, it is vital that new opportunities should be explored to achieve growth in trade which benefits all involved. Two-way trade between Pakistan and Ireland was worth €67.8 million in 2006, with exports to Pakistan up 10% on the prior year, and imports up by 16%. Sales by Irish companies in Pakistan more than doubled in the last three years,"
"This is, undoubtedly, small in terms of the total trade of two countries...but the impressive levels of growth provide a very promising indication of future potential."
He further stated that he was "...particularly pleased to note that Irish owned SME's, typified by the companies taking part in this trade mission, are also developing strong links with Pakistan. There are now 44 Irish companies supplying products to Pakistan -and there numbers continue to grow."
A member of FPCCI speaking with
Michael Cantwell & J. Whelan |
Minister Ahern concluded: "Pakistan's economic development, growing at over 7% p.a., and a population of 160 million with a rapidly growing middle class, will create increasing opportunities where Ireland can offer products and services in sectors such as telecommunications, IT, the life sciences, construction, financial services, education and e-learning services. In these sectors, there appears to be a very good match between Irish supply capability and Pakistani business, commercial and societal needs."
Jim Mongey, Enterprise Ireland Manager for the Middle East and Pakistan, also spoke at the event. He stated that Irish Exporters had again shown a tremendous willingness to move early into markets which show potential even if distant and difficult. He went on to say; "The growth over the last four years in Pakistan is underpinned by dynamism in industry, agriculture, services and an emergence of a new investment cycle. Irish companies such as those on this Trade Mission are early movers to take advantage of this new wave of economic development."
Accompanying the Trade Mission was John Whelan, CEO of the Irish Exporters Association. He was impressed with the growth in the Pakistan economy and the opportunities for trade that it had opened up. "Pakistan has undergone a remarkable economic transformation in the past five years. Sluggish and ignored at the start of the decade, it now boasts annual growth of more than 7% in GDP, foreign investment flows that have increased tenfold in six years, and one of the most successful privatisation programmes in the South Asian region."
Mr. Whelan went on to say; "It is a success story quite at odds with Pakistan's unloved image overseas, and it demonstrates that digging beneath the political headlines can be more than worthwhile, as has been demonstrated by companies on the Trade Mission, such as Crowley Engineering, EMF Semiconductor Systems Ltd. and Audit Diagnostics, all companies
from Cork. There are major horticultural joint venture opportunities in Pakistan, which Keelings are actively pursuing on the Mission. Keelings, from North County Dublin, employ 1,350 people throughout their business units and have an annual turnover of€300 million."
Other companies on the Trade Mission were Botany Weaving Mill, an aircraft interiors supplier, Ezetop Ltd., a mobile phone service company, L-3 Communications/Essco Collins Ltd., an aviation radome design company, and Valentia Technologies Ltd., a wireless informatics company.
Enterprise Ireland also saw extensive potential for educational services with organised participation by Irish educational institutes during the Trade Mission. At education fairs in Karachi, Lahore and Rawalpindi, an estimated 25,000 Pakistani students met with representatives from a wide range ofIrish educational institutions, including Dublin Institute of Technology and Griffith College Dublin.
Source:
http://www.irishexporters.ie/pakistanpressrelease
 |
Minister Michael Ahern TD, Irish Minister for International Trade and Irish Ambassador in Islamabad, witnessed the signing of a Memorandum of Understanding (MoU) for the
Diarrnuid Hegarty & Zubair F. Tufail
signing the JBC agreement with
John Whelan (lft.) and Min. Ahern
& Mrs. Hamido Khurro, Min.of
Education Sindh Province
(standing) |
establishment of a Pakistan-Ireland Joint Business Council (JBC) between the IPBC and the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), at an event hosted by the Irish Exporters Association.
The agreement was signed by Mr. Zubair E Tufail, Vice-President of the FPCCI, and Mr. Diarmuid Hearty, Vice-Chairman of the IPBC.
Under this MoU, FPCCI and Ireland-Pakistan JBC will intensify interaction and facilitate the business community of both countries for promotion of bilateral trade and economic relations. It was also decided that a Pakistan-Irish JBC meeting would be held annually in either country.
Under the agreement both organisations would exchange information regarding trade and economy, as well as aid in the cooperation of potential opportunities and services. The JBC aims at fostering friendly relations and understanding between Ireland and Pakistan with respect to trade investment, technology transfer and industrial sector contracts.
|
