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Great potential between Pakistan and Australia

KARACHI: There is significant potential for Australia-Pakistan trade and investment relationship to continue to grow, building on the positive trend of the last few years.

This was stated by Australian High Commissioner Margaret Adamson in an interview with The Express Tribune.

When asked about trade in general, she noted that in 2015, total merchandise trade between Australia and Pakistan grew by 45% to AU$920 million (Rs69.5 billion).

“If we include our two-way services trade of AU$626 million (Rs47.3 billion), total bilateral trade in 2015 stood at more than AUD1.5 billion (Rs113 billion),” said Adamson.

The high commissioner explained that there is great potential for expansion in energy and resources, specifically in the “supply of LNG, the mining sector value chain and renewable energies”.

Talking about the role of Australia’s cattle and dairy sector expertise, she said, “In addition to the ongoing success of Australian cattle and industry expertise in Pakistan’s dairy sector, Pakistan can work with Australia to develop large feedlot farms for meat production.

“Here Pakistan can work with Australia to not only set up farms, but also to acquire knowledge in raising animals for quality meat.”

The Australian official also spoke of Australia’s credentials as a major exporter of halal meat, which can provide a further basis for “technical and vocational education and training partnerships, which are already on the rise in other specialisations, including hospitality, nursing and mine safety training”.

Adamson said that the Australian Trade and Investment Commission (Austrade) played an active role in supporting Pakistani firms which do business with Australia.

“It provides information on buying products and services from Australia, supporting business delegation visits and highlighting key trade events in Australia and Pakistan.”

Courtesy : Express Tribune

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