LAHORE: German Deputy Head of Mission Dr Philipp Deichmann on Monday stressed the need for enhancing two-way trade by establishing joint ventures for producing value-added products in the country. He was talking to All Pakistan Business Forum (APBF) President Syed Maaz Mahmood and Secretary General Khurram Niaz Khan while First Secretary-Economic & Political Section Christian Bottcher was also present on the occasion. Both sides discussed the challenges being faced by business community of the two countries and their solutions in post-corona industrial slowdown. Both sides also agreed to boost bilateral trade and investment through proactive approach and improved engagement.
Dr Philipp Deichmann said that Pakistan and Germany's bilateral trade has been around 3 billion Euros while trade balance is also in favour of Pakistan. He vowed to play his effective role in improving the trade relations between the two countries.
He also emphasized that the biggest asset of Pakistan lies in its abundant youthful workforce. If they are trained and educated well by the government in collaboration with the private sector, this workforce could be the main strength in Pakistan's industrial development, he added. Germany wants to further enhance trade relations with Pakistan and stressed the need for exchange of delegations to explore business collaborations with Pakistani counterparts, he said.
Syed Maaz Mahmood outlined the business and investment opportunities in Pakistan and asked the German investors to take benefit of these opportunities by investing in Pakistan. He cited IT and pharmaceutical sectors as the other potential areas for cooperation between the two countries. He said that the All Pakistan Business Forum (APBF) will extend full cooperation and support to strengthen trade and economic ties between Pakistan and Germany. "We are making consistent efforts to identify and engage resourceful organizations and entrepreneurs to create new opportunities and mutual benefits through our shared values and wisdom."
He appreciated the efforts and support of government of Germany, especially GIZ LSP Program which has done great while engaging all the relevant stakeholders along with private sector and business community to improve labor standards to the level of international standards. The partnership of Germany along with European Union to provide technical education and vocational training and skill to our youth is commendable as we have seen remarkable progress on TVET (Technical and Vocational Education and Training), which could be a game changer for Pakistan in near future for a prosperous Pakistan," he added.
Copyright Business Recorder, 2020
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