By Commerce Reporter
LAHORE:– The Lahore Chamber of Commerce & Industry (LCCI) held a pivotal meeting of its Standing Committee on Asia-Pacific Economic Cooperation (APEC) today under the chairmanship of Convener Muhammad Yaseen while LCCI President Mian Abuzar Shad was the chief guest and Pioneer Businessmen Group Chairman Ali Hussam Asghar was invited as the Special Guest. Other stakeholders including Raja Hassan Akhtar were also present on the occasion.
The session highlighted APEC’s role as a regional economic forum fostering economic integration, trade liberalization, and sustainable growth among its 21 member economies, including China, the US, Japan, South Korea, and Australia.
Discussions covered APEC’s significant contribution to global GDP 60 per cent and trade 50 per cent, with a focus on areas such as digital transformation, supply chain resiliency, and SME development.
Key topics included Pakistan’s imports from APEC nations, ranging from machinery and petroleum products to pharmaceuticals and technology, and its exports, including textiles, agricultural goods, and IT services. The meeting also emphasized existing trade agreements like FTAs with China and Malaysia and the TIFA with the US, stressing the need to explore more preferential trade agreements (PTAs).
Muhammad Yaseen outlined a strategic roadmap for fostering trade, including trade delegations, bilateral trade promotions, and single-country exhibitions. Special focus was placed on strengthening Pakistan’s economic ties within the APEC region to enhance trade and economic opportunities.
Participants hailed the initiatives and reaffirmed their commitment to advancing trade collaborations and promoting Pakistan’s exports globally.
