Lahore: During a recent meeting with the Lahore Chamber of Commerce and Industry (LCCI), Belgian Ambassador Idesbald Vander Gracht highlighted the strategic importance of Belgium as a gateway for Pakistani businesses to the European Union market. The meeting, which also included LCCI President Mian Abuzar Shad and executive committee members, focused on expanding trade and economic ties between Pakistan and Belgium.

According to Lahore Chamber of Commerce and Industry, Ambassador Vander Gracht commended the longstanding economic relationship between the two nations and encouraged further exploration of mutual trade opportunities. He emphasized Belgium’s role in supporting Pakistan’s continued access to the Generalized Scheme of Preferences Plus (GSP Plus) status, which facilitates Pakistani exports to the EU. The Ambassador also identified key sectors such as agriculture, textiles, and precious stones as potential areas for joint ventures.

The discussion also covered the importance of increasing business-to-business meetings and single country exhibitions to discover untapped opportunities. Furthermore, the Ambassador advocated for more extensive student exchange programs to strengthen bilateral relations.

LCCI President Mian Abuzar Shad underscored Belgium’s critical position in European politics and trade, noting its foundational role in the EU and as the host of numerous international organizations, including NATO. He highlighted the economic challenges of the past year, pointing to a decrease in trade volumes but stressed the potential for substantial growth in bilateral trade.

The meeting also addressed the need for diversified trade items and increased interaction between the business communities of both countries to enhance cooperation. Shad appealed for Belgium’s support in ensuring the extension of Pakistan’s GSP Plus status beyond 2027, a move crucial for bolstering Pakistan’s trade within the EU.