Key Takeaways
- Ambassador Paulo Domingues of Portugal to Pakistan calls for increased economic ties.
- Portugal and Pakistan have untapped potential in trade, investment, and joint ventures.
- A business forum in Islamabad aims to explore concrete opportunities for trade and investment.
Ambassador Paulo Domingues of the Republic of Portugal to Pakistan has called for a significant transformation in economic relations between the two countries, urging businesses to explore new markets and partnerships.
Speaking at a meeting at the Karachi Chamber of Commerce & Industry (KCCI), Ambassador Domingues highlighted the potential for increased trade and investment between Pakistan and Portugal, noting that while relations are friendly, bilateral trade remains below its potential.
He emphasized the complementary economic strengths of the two countries, suggesting that there is substantial scope for cooperation across sectors such as trade and industry, renewable energy, technology, agriculture, and fruit cultivation.
Ambassador Domingues observed that while Pakistani businesses are increasingly exploring Portugal, Portuguese businesses have yet to fully tap into the Pakistani market, partly due to a lack of awareness of the opportunities it offers.
He expressed confidence that bilateral trade would increase as initiatives gain momentum, encouraging more Portuguese entrepreneurs and companies to visit Pakistan.
The ambassador identified several promising areas for cooperation, including clean energy, where approximately 70% of Portugal’s electricity generation comes from renewable sources, offering valuable opportunities for knowledge-sharing and potential investment partnerships.
A significant upcoming opportunity is the visit of Portugal’s Minister for Foreign Affairs to Pakistan on November 22 and 23, during which a business forum will be organized in Islamabad.
The forum will bring together representatives of both countries’ foreign ministries, trade and investment agencies, and a delegation of Portuguese companies to explore concrete opportunities for trade, investment, and joint projects.
Ambassador Domingues strongly encouraged the Karachi Chamber of Commerce & Industry to participate actively in the initiative and mobilize Pakistani business leaders and entrepreneurs to engage with the visiting Portuguese delegation.
My message today is very simple: Portugal and Pakistan have much more to offer each other. We must work together to turn our friendly relations into real business opportunities.
Ambassador Paulo Domingues, Ambassador of the Republic of Portugal to Pakistan
