ISLAMABAD, (DNA): Germany is the largest trading partner of Pakistan and the healthiest economy in the European Union have long ties with Pakistan. Pakistani people love the quality products and perceive that Made in Germany means quality and reliability. The automotive sector of Germany is the symbol of status. This was stated by Nasser Hyatt Maggo, President FPCCI in a meeting with the Ambassador of Federal Republic of Germany Excellency Bernhard Schlagheck who visited FPCCI Capital Office, Islamabad.
The meeting was attended by a large number of business people from different sectors prominently Anjum Nisar, Immediate Past President FPCCI, Shahzeb Akram, Sr. Vice President and Vice Presidents of FPCCI, Zahid Shah, Hanif Lakhani, Athar Chawla, Head of Capital Office Qurban Ali and coordinator Mirza Abdul Rehman. Qaiser Khan Daudzai, Ex-Vice President of FPCCI. Nasser Hyat Maggo gave a briefed overview of the activities of FPCCI and its importance not only in the Pakistan’s economy but also in the international economy. While talking about the bilateral trade of Pakistan with Germany, he said that Germany is the biggest trading partner of Pakistan in EU with a trade balance in favour of Pakistan which reflects good economic relation between both the countries.
He further said that Current volume of bilateral trade is nearly US $ 3 billion. Pakistan’s Exports to Germany has increased to US $ 2 billion, while imports of Pakistan from Germany are US $ 1.2 billion. However, the trade statistics are still far beyond the existing potential between both the countries. The President FPCCI further said that in the scenario of CPEC, Pakistan has become emerging market and favourable investment destination in the world. Many German companies are already operating in Pakistan but still there is a room for further investment in various sectors which should be jointly explored. Anjum Nisar, Immediate Past President FPCCI said that Pak German development cooperation as well as bilateral trade and investment ties which are decades old and quite strong, it is high time to explore new avenues to enhance economic partnership through joint ventures in Special Economic Zones in Pakistan.
He further said that the number of opportunities coupled with investment friendly policy of the government are there along with low cost labour and conducive domestic environment. The Agriculture yield of Pakistan is very poor and the land is shrinking annually and so we have to increase our yield for which German investors can come forward for joint collaboration in agriculture sector particularly in Seeds and pesticides, he added. The Ambassador of Germany expressed his gratitude on his warm welcome in FPCCI and said that he was quite impressed with the viability of Pakistan business people who are subject related. The Chambers are doing well and moving forward for making business easy. He said that the bilateral trade was over US $ 3 billion earlier with surplus in favour of Pakistan, off-course there is more space to enhance economic partnership.
We are interested to intensify business to business relations particularly in three areas i.e. recycling and waste management considering waste as resource not as garbage, sustainable construction together with micro facilities for renewable energies, Germany has quite enough experience of insulation of a building that keeps warm in winter and cool in summer time. This is very efficient from energy perspective and it will save a lot of money in long term. Thirdly, the food processing and packaging area wherein Germany has good machinery and technology that can be helpful to Pakistan where the huge focus of the society is on agriculture, he added.
The Ambassador further said that last year a German business delegation visited Pakistan and had B2B meetings in Textile related Pakistani entrepreneurs. He said that they are planning another business delegation to Pakistan which will focus on these areas. It was encouraging that both the countries were committed to further improve trade relations which is most promising and we hope that in future bilateral trade between both the countries would grow substantially, he added. Lastly the President FPCCI presented a traditional crest of FPCCI to the Ambassador as gesture of gratitude and appreciation.
