Islamabad: Germany on Friday said European Union preferential trade deal can help Pakistani textile industry considerably increase its exports.
EU which imports around Euro 83.7 billion of textile products per annum will welcome increased share of Pakistan in its promising market. Textiles account for over 60 per cent of the total Pakistani exports to the EU.
The energy situation will need to be improved for the textile sector to get maximum benefit of the Pakistan waiver, said Samy Saadi, Trade Counsellor and Head of Economic Section, Embassy of the Federal Republic of Germany.
Talking to Samina Fazil, founder President, Islamabad Women’s Chamber of Commerce and Industry (IWCCI), he said that energy situation has harmed Pakistan exports to Germany and led to decrease in 2011.
German exports to Pakistan stood at $947 million while her imports from Pakistan stood at $1.2 billion, he informed. The total bilateral trade volume has been steadily on the rise and still bears much potential, he added.
Mentioning efforts of the Punjab government to strengthen its agricultural sector, he said that Punjab is among world leaders in many agricultural sectors. Its progress in milk production is encouraging which is presently 3 times lower than many European countries.
Samy Saadi said that uniting and educating people related to agriculture can trigger development as current level of exports of fruits, dairy, and vegetables are relatively low. However, there is a great potential if production is improved, he added.
He said that efforts were underway to introduce Pakistani agricultural products in Germany with the help of Metro.
He said that Germany and the EU imports fish worth euro 15.5 billion euro; we are open to restoring fish imports from Pakistan. He mentioned that concerted efforts were being made to improve the situation and expressed hope that Pakistani exports would be resumed soon.
Samy Saadi informed that Germany is eager to hike investment in Pakistan; “We are engaged in development cooperation focusing on energy, education, vocational training, health and governance and believe in more mutually beneficial commercial activity both ways”.
At the occasion, Samina Fazil stressed the need for enhanced support to Pakistani women entrepreneurs. She demanded frequent exchange of trade, cultural and economic delegations and help in generating clean energy and through Thar Coal.
She tanked Germany for helping EU deal which according to industry experts can help Pakistani textile sector save $200 million in duties alone.
Bangladesh coastline is half the length of Pakistan but their farmed shrimp exports are ten times more to 600 million dollars, she observed.
Pakistan requires up to $25 billion in infrastructure development that is a good opportunity for German investors. The most promising sectors include oil and gas, agro-industry, IT, textile and other machinery, mining, precious and semi-precious stone sector, franchising, consumer goods and environmental technologies, said Samina.
Demanding improved access to the German services market, Samina said that Germany should support Pakistani women entrepreneurs to explore their market to fulfil our economic revival agenda.
For more information, contact:
Islamabad Women’s Chamber of Commerce and Industry
Mobile: +92323 5343199
Tel: +9251 2252256