KARACHI, OCT 19 /DNA/ – Ambassador of the Republic of Portugal to Pakistan, Mr. Paulo Domingues, has called for a major transformation in Portugal-Pakistan economic relations, stressing that the two countries must move beyond cordial diplomatic ties and translate their longstanding friendship into tangible trade, investment and joint venture opportunities. Highlighting significant untapped potential between the two economies, he urged businesses on both sides to forge direct partnerships, explore new markets and pursue practical projects that could substantially expand bilateral commerce.
Addressing a meeting at the Karachi Chamber of Commerce & Industry (KCCI), Ambassador Paulo Domingues said that although relations between Portugal and Pakistan were friendly and steadily improving, bilateral trade remained considerably below its potential. He emphasized that the two countries had complementary economic strengths and considerable scope to deepen cooperation across multiple sectors.
“My message today is very simple: Portugal and Pakistan have much more to offer each other. We must work together to turn our friendly relations into real business opportunities. Our political and economic relations are good and growing steadily, but the trade figures remain relatively low compared with the enormous potential that exists between our two countries. There is significant untapped potential that we must identify and develop through sustained efforts”, he said.
The Ambassador observed that Portuguese businesses had yet to fully explore the Pakistani market, partly because they remained insufficiently aware of the opportunities it offered. In contrast, he noted that Pakistani businesses were increasingly exploring Portugal, with business missions already visiting the country to examine commercial prospects in different sectors. He expressed confidence that bilateral trade would increase as these initiatives gained momentum.
“The challenge is to bring our business communities together and encourage more Portuguese entrepreneurs and companies to visit Pakistan. Portugal and Pakistan may be geographically far apart, but geography should never limit our ambitions. We have a strong foundation for cooperation, and what we need now is greater engagement between our companies”, he remarked.
The Ambassador identified several promising areas for bilateral cooperation, including trade and industry, renewable energy, technology, agriculture, fruit cultivation and innovation. He said the Portuguese Embassy could help Pakistani and Portuguese companies identify buyers, suppliers, distributors and reliable long-term commercial partners.
Highlighting Portugal’s experience in clean energy, he pointed out that approximately 70 percent of Portugal’s electricity generation came from renewable sources, offering valuable opportunities for knowledge-sharing, technology cooperation and potential investment partnerships with Pakistan.
Turning to an important upcoming opportunity, the Ambassador announced that Portugal’s Minister for Foreign Affairs would visit Pakistan on November 22 and 23, during which a business forum would be organized in Islamabad. The initiative would bring together representatives of both countries’ foreign ministries, trade and investment agencies, and a delegation of Portuguese companies to explore concrete opportunities for trade, investment and joint projects.
He strongly encouraged KCCI to participate actively in the initiative and mobilize Pakistani business leaders and entrepreneurs to engage with the visiting Portuguese delegation. He said KCCI’s extensive business network could help identify relevant companies, prioritize sectors and ensure that the forum addressed the genuine commercial interests of both sides.
While welcoming the Portuguese Ambassador, President KCCI Talat Mahmood called for a concerted effort to significantly expand Pakistan’s trade with Portugal, stressing that existing bilateral trade remains far below its actual potential and that both countries must work closely to unlock new opportunities for exporters, investors and businesses.
He urged the Portuguese Embassy to facilitate stronger business-to-business linkages, improve Pakistani exporters’ access to the Portuguese market and encourage diversification beyond the traditional concentration in textile products.
“Pakistan and Portugal have considerable scope to strengthen their economic partnership, but we need to translate this potential into tangible commercial results. KCCI and the Portuguese Embassy can play a pivotal role as bridges between the two business communities by facilitating direct engagement, sharing market intelligence and helping companies identify reliable partners. We look forward to working closely with the Ambassador to make bilateral trade more diversified, balanced and substantial”, he added.
He urged the Ambassador to guide Pakistani businesses on Portugal’s market requirements, product standards, distribution channels and potential buyers, while encouraging Portuguese companies to explore sourcing opportunities from Pakistan. He stressed that stronger business-to-business engagement would be essential to achieving sustained growth in bilateral commerce. “The objective should not merely be to increase existing exports but also to develop new areas of cooperation, diversify trade and establish sustainable business relationships capable of delivering long-term economic benefits to both countries”, he added.
Concluding his remarks, President KCCI reiterated that closer cooperation between the two business communities could help transform the existing trade relationship into a much stronger economic partnership. He expressed confidence that the Ambassador’s engagement with KCCI would help identify new avenues for cooperation and encourage Pakistani and Portuguese companies to pursue concrete commercial opportunities.
