Pakistan and Bosnia need to improve their political and economic relations to promote bilateral trade and investment as the current volume of trade is far below the respective potential of both countries.

This was said by H.E. Armin Limo, Ambassador of Bosnia to Pakistan while talking to a group of businessmen at Islamabad Chamber of Commerce & Industry (ICCI).

He said many products of Pakistan go to Germany, get a new label and then enter European market including Bosnia costing more to consumers. He stressed for direct trade between Pakistan and Bosnia which will be more beneficial for the economies and people of both countries.

Bosnian Ambassador said that Pakistani businessmen could enter Bosnia by making joint ventures with their Bosnian counterparts. He said many Pakistani products including rice, surgical instruments etc. have good potential in Bosnia and Pakistani businessmen should establish direct trade links in Bosnia to grab better market share.

On this occasion, he informed that Bosnia is organizing the 1st International Investment Conference – Sarajevo Business Forum 2010 on April 6-7, 2010 in Sarajevo, the capital of Bosnia and invited Pakistani businessmen to participate in this event to explore more business opportunities by holding B2B meetings with their counterparts in Bosnia.

He thanked Pakistan for providing crucial humanitarian and other support to Bosnia during its war time.

Speaking on the occasion, Zahid Maqbool, President ICCI said that Pakistan and Bosnia are still unexplored markets for businessmen of both countries. He said frequent exchange of business delegations and establishing direct B2B contacts are the options which should be used to exploit untapped bilateral trade and investment potential in both countries.

He said Pakistani products including rice, sports goods, surgical instruments, pharmaceutical, leather & textile products etc. are very cheap for Bosnia and Bosnia should enhance imports of these products from Pakistan to provide quality products at affordable rates to its people.