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HomeBusinessTraders need to tap $3tr ASEAN market: RCCI

Traders need to tap $3tr ASEAN market: RCCI

Thailand can significantly provide economic and trade opportunities to Pakistan by connecting it with the ASEAN (Association of Southeast Asian Nations) market.

The speakers expressed these views on the occasion of the 34th Achievement Awards ceremony and conference organized by the Rawalpindi Chamber of Commerce and Industry (RCCI) in Bangkok, Thailand said a statement issued on Sunday.

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They said that the share of ASEAN countries in world trade was around 25 per cent while Pakistan’s trade volume with ASEAN countries was only around seven billion dollars which was very low in terms of potential.

They added that the awards and business conference aimed to increase trade relations between the ASEAN countries and bring the business community and private sector of Pakistan and Thailand closer.

Ms Arada Fuangtong, a representative from the Prime Minister's office and Department of International Trade Promotion, Ministry of Commerce, Thailand (DITP), who was the chief guest on the occasion, lauded RCCI’s efforts for promoting trade ties between the two countries.

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She also agreed and appreciated the recommendations and suggestions, including opening a DITP office in Pakistan. RCCI president Nadeem Rauf in his keynote address said that the ASEAN region, with its significant economic power, vast natural resources, and dynamic workforce, has a considerable development potential which needs exploration in the better interest of all member nations.

He added that there were vast opportunities for mutual trade in many sectors, including marble, medicine, automobile, construction, seafood, tourism and clothing.

Chamber President Nadeem Rauf said that about a hundred businessmen, institutions and government representatives from Thailand, including Pakistan, participated in the awards and business opportunities conference.

He said that there were fraternal relations between Pakistan and Thailand, tourism, especially the tourism of religious places was very important, and many signs and relics of Buddhism were still present in Pakistan.

He added that the two countries also share a deep connection with each other under the Gandhara civilization. He urged Thai investors to look into the opportunities concerning construction and real estate, tourism and the hotel industry, as Pakistan was a huge market in terms of Electronics and Automobiles.

He added that Pakistan’s exports include Seafood, Cotton cloth, fabrics, Plastic materials, Granite, Marble and spices, Fruits, and frozen juices.

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