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Islamabad Chamber of Commerce and Industry invites German Investment in Energy Sector

Islamabad, March 25, 2013 (PPI-OT): German government is ready to provide all necessary help to the German investors for investment in Pakistan as there are vast prospects of mutual cooperation between the two countries to further strengthen trade relations.

These remarks were made by German Ambassador to Pakistan, H.E.Mr.Cyrill Jean Nunn while addressing business community at Islamabad Chamber of Commerce and Industry (ICCI). He discussed a range of subjects related to the bilateral relationship between Germany and Pakistan, including the cultural, political and economic dimensions.

He said that among the major sectors, Germany works with Pakistan in sectors like energy, health and governance. “Germany considers trade the best form of cooperation between countries”, he said. However, the German ambassador cautioned that Pakistan needs to address security and energy issues in order to attract foreign investment. He observed that within the European Union, Germany is the largest trading partner of Pakitsan and said that Germany has an interest in seeing the EU engage with Pakistan.

Mr.Cyrill said that Pakistan and Germany are enjoying balanced volume of trade that stood around $2.2billion. He said that there is huge demand of Pakistani textile products in German markets as well as he indentified tourism as a potential sector of mutual interest and said that Pakistan should also focus this area to promote tourism.

Speaking on the occasion, Mr.Zafar Bakhtawari, President ICCI said that Pakistan and Germany are enjoying historically good relations, thus, more German companies should come Pakistan and make investment in the areas of their interests.

ICCI President said that Pakistan, today, is severely hit by a energy crisis that has badly affected its industrial sector. “We have never been as much in need for renewable energy sources as today. Germany is meeting its energy needs by vastly using wind technology and solar electricity systems installed all across the country in addition to hydel resources. Pakistan presents a huge scope for German investors to set up projects of producing alternate energy, he added.

He thanked Germany for its support in getting enhanced market access for Pakistani products in the EU as well as he appreciated the positive role of Germany in restoring peace in Afghanistan.

Mr.Bakhtawari said that other important sectors where German investors can benefit a lot are telecommunications, oil and gas exploration, food processing, agriculture tractors and machinery, dairy processing and equipment, engineering and services. He said that

For more information, contact:
Islamabad Chamber of Commerce and Industry
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526 and 225 3145
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

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