ISLAMABAD, FEB 26 (DNA) – Nicolae Goia, Ambassador of Romania has said that his country was aiming to take annual bilateral trade with Pakistan up to $500 million in near future as both countries have great potential to promote trade in many areas.

He was addressing business community during his visit to Islamabad Chamber of Commerce & Industry. Mihai Stefan Dinu, Minister Counselor and Deputy Head of Mission of Economic Affairs also accompanied at the occasion.

The Envoy said that Pakistan and Romania enjoyed excellent political relations but economic relations were not up to real potential.

He said Romania was keen to develop strong economic ties with Pakistan as it was an important country with great potential for business relations. He said CPEC was an important project for Pakistan as it would promote regional connectivity and bring great economic dividends to Pakistan. He said Romania was also interested in becoming a part of CPEC.

Nicolae Goia said that the security situation was quite better in Pakistan that would help in promoting business and investment activities.

He said that Pakistan has the potential to achieve economic development like Japan in next 10-15 years as it has huge natural resources and potential to grow.

He assured that his Embassy would work with ICCI to promote contacts between private sectors of Pakistan and Romania.

Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce & Industry that the current volume of bilateral trade of around $100 million was not reflective of actual potential of both countries and strong efforts from both sides were needed to improve it.

He said Pakistan and Romania could cooperate in many fields including mining, agriculture, pharmaceuticals, cement production, alternate energy sources, information technology (IT), sports, exploration of oil & gas & minerals, manufacturing of helicopters and defence industry.

He stressed that both countries should encourage frequent exchange of trade delegations and facilitate B2B contacts to realize actual potential of mutual cooperation. He said organizing exhibitions on reciprocal basis could be another effective tool to improve trade and exports.

Sheikh Amir Waheed said CPEC has the potential to change economic dynamics of Pakistan and Romanian investors should explore JVs and investment in this mega project.