LAHORE: Ambassador of Argentine to Pakistan Leopoldo Francisco Shores has called for a new strategy to strengthen trade and economic ties with Pakistan, a statement said on Saturday.

“There is a scope of enhancing cooperation in agriculture and livestock sectors,” he said, while speaking at a meeting at the Lahore Chamber of Commerce and Industry.

The ambassador said Argentina has made good progress in the agriculture sector, adding that collaboration between the two countries in this sector would yield better results.

The Argentine desired extending cooperation to Pakistan in different sectors, he said, adding: “Diplomatic relations between the two countries have completed 70 years.”

Strong B2B contacts and exchange of trade delegations were vital to lift the mutual trade, Shores said.

Mian Nauman Kabir said that Argentina, being the world’s eighth largest country, has many features that make it quite distinctive from the rest of the world.

“Argentine is a great source of valuable minerals. It is among the world’s leading nations in [the] production of livestock and cereals,” he said, adding that other than maintaining good diplomatic relations, Pakistan and Argentina were regular trading partners.

By giving the Most Favoured Nation (MFN) status to each other in 2002, both countries found the basis of further developing economic relations, he said.

“We expect [an] increase in [the] trade volume this year. During the first four months, our exports to Argentina are around $17 million, while imports are $32 million. However, we wish to close the gap of trade deficit by diversifying our export items to Argentine,” he added.

Kabir said that there is a need to find new product lines and new avenues of cooperation for enhancing Pakistan’s exports to Argentina.

LCCI president Mian Nauman Kabir, senior vice president Mian Rehman Aziz Chan and vice president Haris Ateeq also spoke on the occasion.