Pakistani Biz Encouraged to Invest in PH
Vice President of Philippine-Pakistan Business Forum (PPBF) Mr. Anjum Nisar presents flowers to Philippine Ambassador to Pakistan Daniel R. Espiritu with the Philippine Honorary Consul General in Karachi Dr. Imran Y. Muhammad, Philippines Embassy’s Economic Assistant Sumaira Bibi and other key businessmen in attendance. (Islamabad PE photo)
ISLAMABAD 09 November 2018 – Ambassador to Pakistan Daniel R. Espiritu and Honorary Consul General in Karachi Dr. Imran Y. Muhammad graced a dinner reception on 16 October 2018 hosted by Mr. Anjum Nisar, Vice President of the Philippine Pakistan Business Forum (PPBF) and the Director of Anjum Asif Pvt Ltd, exclusive distributor of Del Monte products in Pakistan.
Ambassador Espiritu, in his keynote speech, highlighted the remarkable increase in the Philippines-Pakistan bilateral trade, which grew to $250 million in 2017 from only $116 million in 2015.
He thanked the Pakistani exporters for supplying quality products such as rice, cement and medicines at competitive prices. He encouraged the auto sectors to explore the Philippines market for their auto parts imports as the country produces very high quality auto and motorcycle parts and components in accordance with international standards and specifications, at very competitive prices.
PPBF Vice President Nisar lauded the continued engagement of the Philippine Embassy with the business community of Pakistan which has played a vital role in increased connectivity between the Philippines and Pakistan business community.
The reception was also attended by the Chairman of Pakistan Stock Exchange Sulaiman S. Mehdi, key members of PPBF, top players of Pakistan automotive industry, representatives of Motorcycle Spare Parts Importers & Dealers Association (MSPIDA), members of pharmaceutical sector, and members of the diplomatic corps in Karachi.
Ambassador Espiritu added that the current trade between the Philippines and Pakistan in auto parts, which is around $11 million, can be further increased.
He also took the opportunity to encourage the business community to invest in the Philippines. He highlighted the key incentives, such as 4-8 years’ income tax holiday, tax and duty free importation of capital equipment, and elaborated on the Special Investor’s Resident Visa. END
For more information, visit www.islamabadpe.dfa.gov.ph / https://www.facebook.com/PHinPakistan
Ambassador Espiritu with Honorary Consul General Dr. Imran and members of Karachi business community (Islamabad PE photo)
Ambassador Daniel R. Espiritu while presenting a book of Philippine-Pakistan Bilateral Relationship to the PPBF (Islamabad PE photo)