German CG visits FPCCI: ‘DIHK likely to establish its office in Pakistan’

KARACHI: Irfan Iqbal Sheikh, President FPCCI, has informed that in a landmark development, Rudiger Lotz, Consul General of Germany in Karachi, has apprised the apex body that German Chamber of Commerce & Industry (DIHK) is expected to establish its office in Pakistan and that reflects the importance Germany attaches to the trade, industrial and economic relations with Pakistan.

It is pertinent to note that Rudiger Lotz paid a visit to the FPCCI Head Office to offer German support to Pakistan in trade promotion, B2B linkages, skills development & vocational trainings, opportunities for Pakistani youth for free higher education in Germany, labor welfare and social sectors.

Irfan Iqbal Sheikh apprised that in the post-Brexit scenario, Germany has emerged as Pakistan’s largest trading partner in European Union and pleasantly enough, bilateral trade balance is in Pakistan’s favor as Germany accounts for 5.4 percent of Pakistan’s gross exports and 1.4 percent of its imports. All we need is trading partners like Germany and it translates into continued employment generation in the country, he added.

Irfan Iqbal Sheikh also sought German support in Pakistan’s successful transition to an expanded GSP Plus programme which may prove to be GSP 2.0 or GSP ++ for Pakistan as it was earlier mentioned by the then outgoing EU ambassador in Pakistan, Androulla Kaminara, when she visited the FPCCI.

Shabbir Mansha, VP FPCCI, proposed that Germany should also provide long-term visas to the Pakistani business community like US and UK have been doing to which Rudiger Lotz agreed that there is certainly room for more facilitation.

Mian Nasser Hyatt Maggo, immediate past president FPCCI, asked the visiting German delegation, whether Germany will be able to protect its supply lines for exports of industrial equipment to countries like Pakistan and its exports in general; given the prevailing economic and energy crisis in Europe.

Zakaria Usman, former president FPCCI, maintained that Pakistan needs transfer of technology, industrial collaborations and joint ventures with Germany to enable Pakistan come out of its economic woes as industrialisation is the only way forward for Pakistan to bridge its trade deficit and promote import substitution.

Copyright Business Recorder, 2023