Pakistan, Switzerland agree to boost trade ties

Deputy Head of Switzerland Mission in Pakistan, Nicolas Plattner said on Tuesday that economic ties between Switzerland and Pakistan are built on solid grounds and measures would be taken to further strengthen the same.
"A large number of Swiss multinational companies are operating in Pakistan. They do not only market their world class products and services, but also creating thousands of attractive jobs in the country", Nicolas said in a meeting at Islamabad Chamber of Commerce and Industries (ICCI).
He pointed out that for the fiscal year 2009-10, Switzerland was ranked the fifth largest Foreign Direct Investor into Pakistan by investing 170.6 million US dollars. He said that companies like ABB, Clariant, Sika, Gate Gourmet, Nestle, Novartis, Roche, SICPA, SGS, Syngenta or Nexus are well-known Swiss companies presently operating in Pakistan and doing a successful business. This is a proof that Pakistan has the potential to be an attractive location for Foreign Direct Investment, he said. Plattner further said that establishment of Swiss Business Council has established business-to-business relations between the two countries and provided strong linkage for exchange of business related information.
The Swiss mission deputy head mentioned that Switzerland has also been contributing towards the development of Pakistan through its development and humanitarian aid programmes. Switzerland contributed US $10.7 million to flood-related humanitarian projects in the Pakistan, he added.
In his welcome address, Mahfooz Elahi President, ICCI said that Pakistan is a peaceful nation and overall business environment is very good. The presence of a large number of foreign companies shows confidence in the business environment, as they are doing profitable business, he added. He said, "We should concentrate on the existing opportunities" and suggested that co-operation could be enhanced in agriculture, transfer of technology, textile and pharmaceutical sectors. He thanked the people of Switzerland for all their support to Pakistan at the time of floods that hit Pakistan in 2010.
ICCI President said that Pakistan offers profitable investment opportunities to both local and foreign investors. He said that marble sector is a fast growing sector in the country with huge investment potential. He invited foreign businessmen to come forward and invest in the sector. He suggested for increasing bilateral trade, people to people contacts should be enhanced. The visit of business delegations should also be encouraged to explore markets, he added.