Head of Economics, German Embassy, Partrick Heinz has said that a high-level German business delegation is visiting Pakistan in the month of November to have joint ventures with their Pakistani counterparts.
He said that as the Germans are convinced that the economic reforms initiated by the present government have made Pakistan one of the fastest growing economy in South Asia.
The diplomat said that the Investment Protection Agreement between Pakistan and Germany was being review to tailor it to present day needs and once the document is finalised, it would pave way for more and more German investment.
He emphasised on the need for a rapid exchange of delegations and a frequent interaction between business communities of the two countries to give considerable boost to foreign direct investment in Pakistan.
Speaking on the occasion, the LCCI President Shahid Hassan Sheikh said that Germany needed to increase its import from Pakistan to create a win-win situation for both the countries. He said that trade and investment is often hindered by lack of information about the available opportunities.
People to people contact, exchange of business information and delegations and holding of single country exhibitions in each other's countries play an important role in promoting economic relations between the two countries.
Shahid Sheikh said that Pakistan's exchange rate makes its products cheaper to import. He said Pakistan had immense scope for investors in information technology, civilian nuclear technology, alternate energy technologies, telecommunications, textiles (value addition), oil & gas, power, food & food processing, cool chain system, motor vehicles, tractors, machinery, dairy processing & equipment, SMEs, engineering, tourism and services etc.
Doing business in Pakistan is easy as compared to other South Asian countries. Pakistan's foreign investment policy is very liberal and investor-friendly.
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