Mancham to be State Guest at Expo Pakistan 2005

26.01.2005

Seychelles' Founding President James R. Mancham has accepted an invitation from the Government of Pakistan to be a State Guest at Expo Pakistan 2005, a communiqué from his Glacis-sur-Mer office said on Tuesday.

This event, organised by the Export Promotion Bureau of the Government of Pakistan, will take place in Karachi from February 2 to 5, 2005.

It is co-sponsored by Habib Bank, Pakistan International Airline and Pakistan State Oil.
In an invitation letter to Mr Mancham, the Hon. Tariq Ikram, Minister of State, said: "I am confident that your participation will help you identify Pakistan as a location well worth a visit – both for business and pleasure."

In a statement on Tuesday morning, Mr Mancham, who was awarded the Quiaad-i-Azam Gold Medal of the Republic of Pakistan by the late President Zhulifica Ali Bhutto in 1976, said:
"I am very much looking forward to attend this mega event. Today Pakistan offers major opportunities to the world as a high quality value priced source of goods and services. It also provides a geographical hub for links with Afghanistan, China, India, Indian Ocean countries, Iran, the Gulf States and the rest of South Asia."

Pakistan has achieved significant socio-economic success in the last five years. Its GDP growth last year exceeded 6%, inflation is down to around 5%, foreign exchange reserves are equivalent to almost one year's imports, cost of bank borrowing is down to even as low as 2 to 3%, exports have grown by 43% in 4 years, has the best performing stock exchange in the region, industrial production is up by 17%, import tariff down from 55% average in 1995 to 17% in 2003.