Germany, for being world leader in the renewable energy, is ready to extend co-operation to Pakistan in bridging gap between the demand and supply of electricity in the country which is passing through worst energy crisis at the moment. The Ambassador of Germany Dr Michael Koch stated this while speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday.
He said the renewable energy sources could help protect Pakistan government against cost increase, as has recently been experienced in case of crude oil. Pakistan could avail German expertise for installation renewable energy projects to overcome acute energy shortage it is facing now-a-days, he added.
On the trade between Pakistan and Germany, the Ambassador said that concerted efforts were being made to take the two-way trade volume to new heights and in coming days the situation would take a positive turn. He said German market open for investment practically in all industry sectors, and business activities are free from regulations restricting day-to-day business. German laws make no distinction between Germans and foreign nationals regarding investment or the establishment of companies, thus Pakistani businessmen could initiate joint ventures with their German counterparts, he added.
While terming the vocational training as cornerstone of economic development of any country, the Ambassador said that Germany is and would continue to extend every possible help to Pakistan for strengthening of its human resource. He said that Pakistan's agriculture sector has a very huge potential, as Pakistani fruits are best of the best in the world. He said that Pakistan could earn much-needed foreign exchange by exporting its fruits to Germany.
The Ambassador emphasised the need for a rapid exchange of delegations and a frequent interaction among the business communities of the two countries to give considerable boost to foreign direct investment in Pakistan. Speaking on the occasion, the LCCI President said that continuous fall in bilateral trade is calling for appropriate sector-specific, result-oriented measures by both the countries, as the existing volume of $1.9 billion has no match to the great potential of business the two countries have. He said Pakistan's exports have come down from $880 million in 2008 to $719 million in 2009, whereas the similar trend has been noticed in imports from Germany, which fell from $1.47 billion to $1.27 billion in the same period of time.
Shahzad Ali Malik said that Pakistan offers a great potential for foreign investment. It has a strategic location with abundant raw materials. Any investment made in Pakistan will automatically find its way to the regional countries, which goes to the extent of Commonwealth of Independent States famously known as CIS countries. Today, Pakistan is severely hit by a horrifying energy crisis that has badly affected its industrial sector. "We have never been as much in need for renewable energy sources as today" he added.
The LCCI President said that Germany is meeting its energy needs with no trouble by using wind technology and solar electricity systems installed all across the country in addition to hydel resources. In this scenario, he said, Pakistan presents a huge scope for German investors to set up projects of producing alternate energy.
He said that the other important sectors where German investors can benefit a lot are telecommunications, oil and gas exploration, food and food processing, cold chain system, agriculture tractors and machinery, dairy processing and equipment, engineering and services etc. Moreover, Pakistan largely produces the finest quality of rice, fruits, vegetable, leather goods, fish, textile products, readymade garments and bed linen. These products can find good markets in the member countries of European Union that surround Germany.
Apart from trade and investment, the other area where Pakistan can benefit from German experience of economic growth in organising international fairs and exhibitions as Germany has acquired the status of a world leader in this connection. He said the LCCI appreciates that the German skill development infrastructures like GTZ has been quite active in passing on technical knowledge to the Pakistani industry in both formal and informal way.
On the same pattern, LCCI wants to expand this co-operation in the field of Human Resource Development. Considering the educated youth of Pakistan, Germany can establish more such institutes here to train them to fulfil the manpower requirement of their own country at much competitive rates, he added.
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