Karachi Chamber of Commerce & Industry's President Muhammad Haroon Agar has urged the German Ambassador Dr Cyrill Nunn to invite new investment in Pakistan as the country is the most promising land in the region for investment and many German corporations are operating successfully and expanding their businesses across Pakistan and beyond.
Exchanging views with the Ambassador of Germany Cyrill Nunn during his visit to KCCI, he apprised that within EU, Germany has become Pakistan's biggest trading partner. Germany ranks as the 9th largest trading partner even ahead UK. There are many opportunities in the economic field and there is a lot of potential between the two friendly countries, which can be further developed. Pakistan's exports to Germany in 2012 were worth $1,151 million while imports were $1,174 million.
Haroon Agar said that Pakistan and Germany friendly relations are deep-rooted and encompassed over last many decades. Germans are well aware about the strength of Pakistan, which is concealed due to huge propaganda drum beat in the Western media and biased reporting about the perception of Pakistan by western channels in the countries around the globe, he said.
He articulated that Pakistan and Germany have upgraded their 50 year old trade and investment treaty for providing better opportunities and protection to each other's investors. The 'Agreement on Encouragement and Reciprocal Protection of Investments' will cover all modern and legal requirements that the investor needs to invest in other countries with complete protection. The treaty was ratified by Pakistan in 2010 and by Germany in 2011. The prospects of expansion in trade and overall economic relationship between Pakistan and Germany are bright.
The area in which further co-operation can be made between Pakistan and Germany include power generation, alternate energy solutions, engineering goods, automobiles, chemicals and pharmaceutical, electronics and financial services. Germany is an important country in European Union which can support Pakistan for getting GSP Plus in EU, entering into Pak-EU Bilateral Investment Treaty, signing of Preferential and further entering into Free Trade Agreement with the EU with preferred market access, he maintained.
He also requested the German Ambassadors to invite German companies operating in Pakistan to exhibit in KCCI's My-Karachi Exhibition scheduled in July 2013 at Expo Centre Karachi. Ambassador of Germany Cyrill Nunn recognised the vibrant role of KCCI in promotion of trade and industry and stated that KCCI is the powerful agent of economic change in Pakistan. He urged co-ordination of KCCI with German Embassy and Pakistan German Business Forum (PGBF) to market products "Made in Pakistan". Pakistan has all resources to attract the foreign investment.
He highlighted that German Mission is committed to bring German Business in Pakistan. The PGBF will transform to bilateral chamber of commerce soon. The Ambassador articulated that Pakistan is the most emerging economy in the region and Germans are well aware about its strength and importance due to its geo-strategic location as gateway to different regional blocs. He hoped that with progressive rise in the GDP, Pakistan will join the Next-11 countries soon. Pakistan is presently ranking in the Next-20 countries.
He said that many leading German companies were successfully operating in Pakistan and further expanding. No German company operating in Pakistan says it's an inappropriate place for business. Offering enabling environment, business grow and all fringe benefits come accordingly. To attract fresh German investment, good care of existing German investment and provision of conducive environment is essential.
Fresh investment is subject to economic reforms, mainly provision of better security conditions, energy and rule of law (protection of rights). Business in Pakistan is easy as compared to other regional countries and the Nation has qualified people and immense resources, he added.
He stated that Germany, in the last fiscal year, was the 2nd largest exporter after China. He realised that Pakistan has fought war against terrorism as frontline state which is actually the war of other countries as well and hence Pakistan's role should be supported economically because the Nation has faced colossal human and monetary losses.
He was of the view that perception of Pakistan is distorted globally and correction and depict its positive image KCCI and all stakeholders have to play their meaningful role. Marketing and advertising of Pakistan is a deficiency, the business and strengths of Pakistan. Germany was offering its support and facilitation in Technical, Vocation and Educational Training Programmes (TVET) for capacity building of skilled labour and human resource development. A high profile German delegation is expected in the last quarter of this year. Indo-Pak trade liberalisation will activate the Saarc Bloc for free trade, he opined.
Hydal and Wind energy are strong focus of German companies which prefer working with private sector. To invite interest of German companies in Thar coal, infrastructure and provision of basic amenities are crucial, he concluded. Dr Tilo Klinner, Consul General of the Federal Republic of Germany, Majyd Aziz, former president KCCI, Shamim Firpo, Senior Vice President, Nasir Mehmood, Vice President, Junaid Esmail Makda Chairman International Affairs KCCI and Managing Committee Members of KCCI also participated in the meeting.-PR
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