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Businesses look to boost trade with Pakistan

Austrian businessmen are increasingly looking to Pakistan as an attractive place to do business, according to an Austrian representative speaking in the Pakistani city of Karachi yesterday.

Austria's Commercial Consular in Pakistan Gerd Bommer said that Pakistan's hopeful and brightening economic future has encouraged business interest between the countries.

Speaking at the Karachi Chamber of Commerce and Industry, he said that there are particularly strong opportunities to expand trade volume, pointing out that many Austrian goods are currently indirectly imported into Pakistan from countries such as Germany

The trade between the two countries was fairly low in 2013, with Austria importing 30.9 million dollars worth of trade from Pakistan whilst exporting around 105 million dollars in return, according to President of the Karachi Chamber of Commerce and Industry Abdullah Zaki.

In order to boost this trade, Bommer called for more focus on improving direct trade and focusing on better communications and interactions through, for example, business delegations.

He also said Pakistan could benefit from the experience and expertise in Austria's banking sector.

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