KARACHI, July 30: State Minister for Commerce, Mir Hamid Yar Hiraj on Saturday invited foreign investors to join very liberalised and promising economy of Pakistan. Foreign investors could purchase any public sector organization and could repatriate the profits and principal amount. Hence, local and foreign investment was fully secure and the rate of return was higher than many countries, the Minister said while speaking at a seminar on “Pakistan-Thailand Economic Relations: Potentials and Barriers” here on Saturday.

He said Pakistan today had liberalized economy and businessmen from any country could enter joint ventures here. He underlined the need for close interaction between Pakistan and Thailand governments and the business communities of the two countries.

Hiraj said both the governments were working out the avenues for mutual benefit of the two nations. A lot of meetings had been held at various levels— initiated by the Prime Ministers of the two countries.

However, the private sectors had to play the ultimate role. They should provide guidelines and parameters to the governments to move ahead. State Minister said the government wanted to sign preferential trade agreement with Thailand as early as possible.

He said such seminars would greatly help in exchange of information and data specially between the two business communities. He acknowledged the role of Federation of Pakistan Chambers of Commerce and Industry in promoting trade and industry.

Thailand Ambassador in Pakistan, Pisanu Chanvitan in his address of welcome described the seminar as a timely move when many developments relating to bilateral ties had occurred during past few months. He said the Prime Ministers had set goals and there was substantial progress in this direction.

He also informed that Thai Airlines had planned to start direct flights very soon between Karachi and Bangkok. The envoy said he was optimistic about strengthening mutual ties. “We both have a lot of potential and competency.”

Director, Board of Trade of Thailand, Anirut Smuthkochon said Pakistan could be a gateway for Thai businessmen to reach Muslim states and other markets. The chairman, SITE Association of Industry, Dr Mirza Ikhtiar Baig emphasised on promoting awareness particularly among the business communities about each other’s products, potential, working conditions of the two countries and the products and quality range of Pakistan and Thailand. This could be achieved through exchange of information and data-base.

He said: “we should look at new potential areas/avenues for mutual benefit. The SITE Association chief suggested to Thai businessmen to fully participate in international and regional exhibitions for their exposure.

He underlined the need for exchange of more trade delegations and said these should be sector-wise like textiles and fisheries sector. Baig also supported the regional trade pattern.—APP