The German investors are keen to invest in Pakistan's potential sectors, but security, energy crisis and rule of law were main impediments in enhancing of bilateral trade relations between two states.
"If the Pakistan's government should take steps for overcoming with all obstacles, then German investors could easily come there and rest of the country, said German Ambassador in Islamabad, Cyrill Nunn while speaking to business community in his visit to Sarhad Chamber of Commerce and Industry, SCCI on Thursday.
On the occasion, the SCCI president, Dr Mohammad Yousuf Sarwar, National Industries Park, Director Ghulam Sarwar Mohmand, SCCI vice presidents, Malik Iftikhar Ahmad Awan, Mohammad Anees Ashraf, and executive body members, industrialists and businessmen were present. Nunn informed that German investors are keen to enhance trade and economic relations with Pakistan, by carrying out joint venture with local firms and businessmen. Presently, he maintained a number of German companies have been invested in different sector in Pakistan.
He, however, said that German investors have some certain concerns over security, energy crisis and rule of law. If the Pakistan's government could remove such obstacles, the German investment would be enhanced in the country, Nunn added. The German Envoy said that there was lot of potential for investment and more favourable exploration of abundant resources in the country. We expect that the peace could be immediate restored and other internal issues, like energy crisis, which handy to attract more foreign investment in the Pakistan, he added.
SCCI president, Dr Yousuf Sarwar invited the German investors to invest in hydel and hydro carbon generation, tourism and oil and gas exploration, particularly in Khyber Pakhtunkhwa generally in the country. He further said that Pakistan and Germany to enhance bilateral trade and economic relations by carrying out joint venture. He said that Peshawar as a golden to get access to Afghanistan and Central Asian Republic States.
Commenting internal business and trade situation, Sarwar said the industrial growth had hardly affected due to the growing energy crisis along with poor law and order, and terrorism situation prevailed in this region. He, however, said there was a huge opportunities for foreign investment. He stressed the need for enhancing the current volume to trade between Pakistan and Germany. He further added the both countries should exchange information and experiences in technology and trade and commerce, to take mutual benefit from them. SCCI chief said that German firms should also invest in KP, like carrying out their operational activities in Lahore, Karachi and Balochistan. He assured the chamber would extend every possible support in this regard.
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