Norwegian Ambassador expresses interest in CPEC’s SEZs for investment
Lahore: Ambassador of Norway to Pakistan Per Albert Ilsaas has expressed interest in the China-Pakistan Economic Corridor (CPEC)’s Special Economic Zones (SEZs) for investment.
The envoy speaking at the Lahore Chamber of Commerce and Industry (LCCI). Ambassador Ilsaas mentioned that Pakistan and Norway had excellent bilateral relations and both countries have great potential to expand mutual trade and economic ties.
He agreed with the LCCI office bearers that CPEC SEZs provided great opportunities for foreign investment including investments from Norway.
He contended that Norway had advanced expertise in automobile, Information Technology (IT) and renewable energy sectors. “Private sector of Pakistan can step into joint ventures in these specific sectors with their Norwegian counterparts,” he added.
The Ambassador underlined that Norway was small country and its population was less than the population of Lahore.
He informed that Norway was one of the major manufacturers of electric vehicles in the world. Its automobile and renewable energy sectors are also advanced.
“Pakistan can benefit from the expertise of Norway in these sectors. We should expand cooperation in the fields of information technology and telecommunication. We assure full cooperation for the promotion of trade between the two countries,” he maintained.
LCCI President Mian Nauman Kabir pointed out that Norway was a home to many Pakistanis and both countries had excellent relations ranging from diplomatic, cultural and economic relations.
“We wish to deliberate to further strengthen the economic and trade relations with Norway. It is good to see that bilateral trade volume between the two countries is increasing,” he stated.
According to the State Bank of Pakistan (SBP), he remarked, “our exports to Norway are around 58.6 million dollars while our imports from Norway are around 41.5 million dollars.”
Mian Nauman Kabir said that although “we enjoy a positive trade balance with Norway, we would certainly like to increase the volume of bilateral trade by many times and in this connection the support and guidance of your good office holds great importance.”
He underscored that Pakistan and Norway can enhance trade and economic cooperation in Mobile Phone Manufacturing, Electric Vehicle Manufacturing, Automotive Parts, Pharmaceuticals, Processed Food, and Surgical Instruments.
He stressed that that Special Economic Zones were being established all across the country under the CPEC with all the essential infrastructure facilities.
“The (Pakistani) government is also giving lucrative tax incentives to both the local and foreign investors in these SEZs. We would request you to play a role in apprising the Norwegian companies about these latest developments,” he said.
