LAHORE, Nov 15: Promotion of small and medium enterprises (SMEs) is prerequisite for achieving sustained economic growth and both Pakistan and the Netherlands can join hands to further strengthen this sector These views were expressed by Jos Van Hulten, Manager International Trade, Chamber of Commerce, the Netherlands, while speaking at the Lahore Chamber of Commerce and Industry on Tuesday. LCCI President Mian Shafqat Ali also spoke on the occasion and gave an update to the distinguished guest on SME sector in Pakistan.

Jos Van Hulten said that strong economic indicators have forced the Netherlands to divert its attention towards Pakistan.

Earlier in his presentation, Mr Jos threw light on the salient features of the Netherlands saying the object was to stimulate Dutch companies to make investment in the emerging economies like Pakistan. He said that it would also help create durable trade relations between the two countries besides curtailing the rate of unemployment. He also urged the Pakistani business community to start joint ventures with their counterparts in the Netherlands to get the maximum benefit.

The LCCI president said that SMEs contribute around 30 per cent to Pakistan’s GDP and $2.5 billion to the manufacturing sector’s export earnings. “The share of SMEs in the manufacturing value addition is estimated to be around 35 per cent. Being labour-intensive SMEs are the biggest source of employment generation and consequently instrumental in poverty reduction.”—APP