German investors keen to invest in Pakistan: Dr Martin Herzer

FAISALABAD: Commercial Counselor Embassy of Germany Islamabad Dr Martin Herzer on Monday said there was a vast scope of enhancing Pak-German bilateral trade relations whereas German investors were also taking keen interest to invest in various sectors in Pakistan.

He was addressing the exporters at Pakistan Hosiery Manufacturers and Exporters Association (PHMA) North Zone office here. Umar Majeed Commercial Specialist Economic & Trade Section was also accompanied while exporters Dr Khuram Tariq, Qamar Aftab, Muhammad Amjad Khawaja and others were also present on the occasion.

He said that a traders' delegation from Germany would soon visit to Pakistan to explore business opportunities in Pakistani market.

He said that Germany was exporting modern machinery for textile especially for value added textile sector which would help Pakistani textile manufacturers to bring improvement in quality of their products and reduce cost of doing business. German government would encourage the joint ventures with large Pakistani units, he added.

He said that Pakistani textile exports to Germany had upward trend by 16 percent after Pakistan got GSP plus status.

He said that Pakistan was a peaceful country for investment and propaganda being made against it at international level was against the facts.      Earlier, Chairman PHMA Mian Naeem Ahmed in his welcome address said that there was a lot of potential for German investors to invest in various sectors of Pakistan including energy and power.

He said that GSP Plus status attributed to Pakistan not only benefited Pakistan's economy but it was also favorable for Germany in political and economic terms.

He also stressed the need of exchanging trade delegations between both countries.

He said that PHMA was a representative body of knitted clothing manufacturers and exporters and it had around 1,600 members and was providing job opportunity at a large scale in the country.

He said that PHMA earned about US$3.2 billion foreign exchange for Pakistan.

Later, PHMA shield was also presented to Dr Martin Herzer, Commercial Counsellor Embassy of Germany.