Singaporean firms evince interest in trade, investment.

Byline: Nasir Jamal

LAHORE -- Many Singaporean companies are getting interested in vast trade and investment opportunities offered by a 'changing' Pakistan.

'We see some changes coming in Pakistan... and we think that we have best chance here with the present government in place to increase bilateral trade and investment relations,' Shamsher Zaman, the vice chairman of the South Asia Business Group of Singapore, told Dawn in an interview on Saturday.

Mr Zaman, who manages a large petrochemicals business that markets chemicals in 40 countries around the world and was heading a big delegation representing small and medium enterprises (SMEs) as well as large multinational firms from Singapore, said the Singaporean companies would like to share and participate in Pakistan's economic development.

'We are here to look at opportunities for cooperation in the infrastructure, information and communication technology (ICT), healthcare and so on. We are also looking at the moment the ways to help Pakistan increase its exports and not only to Singapore. Singapore is a place where all international traders are located. If we can engage them they can buy Pakistani products for distribution all over the world,' Mr Zaman, who is heading a delegation of companies from the island city-state, emphasised.

South Asia Business Group of Singapore vice chairman Shamsher Zaman seeks opportunities for cooperation in infrastructure, info tech

He said the purpose of bringing the business delegation to Pakistan is to connect the business community in Singapore and Pakistan. 'Having assisted Singapore Business Federation (SBF), the apex business body in the city-state, I have realised that there is no engagement with Pakistan. With this in mind I am trying to facilitate Singapore companies to come to Pakistan and engage with its business community.'

Currently, the trade between the two countries stands at $1.2 billion with Pakistan importing goods worth $1.1bn from Singapore and exporting products worth only $89 million in the financial year 2018, says Pakistan Bureau of Statistics (PBS). Singapore invested $33.6m, including portfolio investment of $10m, in Pakistan last fiscal, according to the State Bank of Pakistan (SBP).

'The current bilateral engagement on the business level is very low... the total trade between the two countries is very small compared with Singapore's total trade of $800bn. From investment point of view, Singaporean companies have invested more...