ISLAMABAD: (By Yasir Habib Khan)— South Africa has announced to assist Pakistan in exploration of coal reserves to produce electricity.
High Commissioner of South Africa in Pakistan Kumalo Mpendulo made this announcement during his address to business community at the Islamabad Chamber of Commerce and Industry (ICCI).
He said that Pakistan, no doubt, boasted finest quality coal and South Africa had worldwide recognition in its expertise and modern technology to extract coal. South Africa was ready to help Pakistan in extracting coal reserves for power generation so that latter could overcome ongoing energy crisis, he said.
Kumalo was upbeat about trade between Pakistan and South Africa and expected that $510 million bilateral trade between them could be boosted to many times.
President ICCI Zafar Bakhtawari welcomed South Africa’s offer for exploiting its coal reserves to produce cheap energy.
He said that Pakistan also reciprocated by offering lucrative investment opportunities in energy and infrastructure development and South African investors were requested to make more investment in Pakistan to earn good profits.
Kumalo opined that South Africa abounded with mineral and other natural resources and aspired to motivate Pakistani investors to establish manufacturing plants in South Africa. “We are pleased to present many attractive incentives to investors as South Africa is considered as a gateway into Africa,” he added. Kumalo invited ICCI delegation to visit South Africa to tap new avenues of mutual cooperation.
He said that South Africa also offered best transport facilities including ports and international airports for goods’ export. The African continent has become second fastest developing region after Asia and Pakistani businessmen could get lucrative results by enhancing trade cooperation with South Africa.
Bakhtawari said that friendly relations between both countries should be translated into improving trade and economic ties and bilateral trade should be increased to $1 billion by 2015.
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