LAHORE, March 12: There is a great potential for stronger economic and trade ties between Pakistan and Austria and the Lahore Chamber of Commerce and Industry (LCCI) could play an effective role in multiplying the existing trade volume.

These views were expressed by the Austrian Commercial Counsellor Dr Wolfgang Penzias while talking to the LCCI president Mohammad Ali Mian during a visit to the chamber on Wednesday.

Senior vice-president Mian Muzaffar Ali and vice-president Shafqat Saeed Piracha were also present at the meeting.

The Austrian diplomat suggested that the frequent exchange of trade delegations, single country exhibitions and country weeks could prove vital to strengthen bilateral trade.

He said that in this regard the Austrian government was ready to provide every assistance to the potential businessmen. He also informed the LCCI office-bearers that a number of projects for strengthening Pakistan Railways infrastructure are in the pipeline, which would further boost economic cooperation between the two countries.

He said that his country had drawn an influx of foreign investors attracted by Austria’s access to the single European market and proximity to the major EU economies.—PPI