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Karachi Chamber of Commerce and Industry’s President urges Pakistan’s Ambassador to Germany to invite new German investment in Pakistan

Karachi, June 19, 2013 (PPI-OT): Karachi Chamber of Commerce and Industry’s President Muhammad Haroon Agar has urged the Pakistan’s Ambassador to Germany Abdul Basit to invite new German investment in Pakistan as the country is the most promising land in the region for investment and many German corporations are operating successfully and expanding their businesses across Pakistan and beyond.

Exchanging views with the Ambassador Abdul Basit during his visit to KCCI, he apprised that within EU, Germany has become Pakistan’s biggest trading partner. Germany ranks as the 9th largest trading partner even ahead U.K. There are many opportunities in the economic field and there is a lot of potential between the two friendly countries which can be further developed. Bilateral trade is in favour of Pakistan.

Haroon Agar said that Pakistan and Germany friendly relations are deep-rooted and encompassed over last many decades. Germans are well aware about the strength of Pakistan which is concealed due to huge propaganda drum beat in the Western media and biased reporting about the perception of Pakistan by western channels in the countries around the globe, he said.

He articulated that Pakistan and Germany have upgraded their 50 year old trade and investment treaty for providing better opportunities and protection to each other’s investors. The ‘Agreement on Encouragement and Reciprocal Protection of Investments’ will cover all modern and legal requirements that the investor needs to invest in other countries with complete protection.

The treaty was ratified by Pakistan in 2010 and by Germany in 2011. The prospects of expansion in trade and overall economic relationship between Pakistan and Germany are bright. The area in which further cooperation can be made between Pakistan and Germany include power generation, alternate energy solutions, engineering goods, automobiles, chemicals and pharmaceutical, electronics and financial services.

Germany is an important country in European Union which can support Pakistan for getting GSP Plus in EU, entering into Pak-EU Bilateral Investment Treaty, signing of Preferential and further entering into Free Trade Agreement with the EU with preferred market access, he maintained.

Pakistan’s Ambassador to Germany Abdul Basit stated that the newly Government has emphasized to focus on economic diplomacy to align the economic policy with the foreign policy. He recognized the vibrant role of KCCI in promotion of trade and industry and stated that the business community amid manifold internal and external challenges to the economy remain committed to uplift the economy.

The Pakistan diaspora in the countries worldwide sent their remittances to Pakistan spur energy in the economy, however, Pakistan cannot rely on remittances and need more industrialization, diversity in exports with less emphasis on textiles and more focus on non-traditional and other value-added products made in Pakistan.

Ambassador apprised that Germany is Pakistan’s largest trading partner even ahead of European Union. Germany is also termed as the power-house of Europe due to its expertise in energy sector. Pakistan can avail the expertise of Germany particularly in energy sector, dairy and food processing. Export volume of Pakistan to Germany is on higher side as compared to imports.

Ambassador informed that Pakistan and Germany maintain excellent political relations. Germany is keenly awaiting next Pak-European Union summit being held in Brussels to further promote relations with Pakistan as Germany is a strong supporter within EU for Pakistan to obtain greater market access in Europe.

Germany is also supporting Pakistan of attainment of GSP plus. Efforts are underway to by the Government of Pakistan in this respect. Germany is also committed to help Pakistan while with more German investment for expanding export base. Pakistan need to transcend its political and other issues hampering the economic and commercial relations for quantum leap in exports. He also sought proposals from KCCI in this connection.

Ambassador informed that more than 30 international exhibitions are organized every year in Germany wherein a large number of Pakistanis participate. He underscored the need of Public-Private Partnership on important sectors where Germany has play constructive role. He stated that he also have intension to organize on exhibition of Pakistani Women Entrepreneurs in Germany.

He told that Germans were best in the world for vocational, technical training and human resource skills development. He voiced that it is imperative to motivate German investors to take advantage of the regional market as Pakistan is the gateway to Afghanistan and Central Asian Republics and an important route to Middle East and South Asian countries.

He was of the view that to portray positive perception of Pakistan globally, positive advocacy groups should be form to depict Pakistan with all its positive strengths. He conversed that Pakistan and Germany had well established relationship and arrangements for enhancing economic and commercial activities as both the countries had already signed the bilateral investment treaty and bilateral chamber of commerce and industry will be launched soon.

Dr. Tilo Klinner, Consulate General of Germany in Karachi speaking on the occasion stated that Germany had already invested in the banking sector and industry. The German investors have also shown interest in the Provincial Rural Support Programmes announced by the provincial governments. Majyd Aziz, Former President KCCI, Shamim Firpo, Senior Vice President, Nasir Mehmood, Vice President and Managing Committee Members of KCCI also participated in the meeting.

For more information, contact:
M. Shafiq Baig
Public Relations Officer
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road,
Shahrah-e-Liaquat, Karachi-74000
Tel: +9221 9921 8001 -09
Fax: +9221 9921 8010
Email: pro@kcci.com.pk, pro2@kcci.com.pk
Website: http://www.kcci.com.pk/

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