AVN 64.74 Decreased By ▼ -0.26 (-0.4%)
BAFL 31.23 Increased By ▲ 0.08 (0.26%)
BOP 4.82 Increased By ▲ 0.11 (2.34%)
CNERGY 3.86 Decreased By ▼ -0.02 (-0.52%)
DFML 14.11 Increased By ▲ 0.41 (2.99%)
DGKC 41.69 Increased By ▲ 0.42 (1.02%)
EPCL 46.36 Decreased By ▼ -0.33 (-0.71%)
FCCL 11.41 Decreased By ▼ -0.01 (-0.09%)
FFL 5.06 Increased By ▲ 0.02 (0.4%)
FLYNG 5.78 Decreased By ▼ -0.04 (-0.69%)
GGL 9.92 Decreased By ▼ -0.03 (-0.3%)
HUBC 64.23 Increased By ▲ 0.13 (0.2%)
HUMNL 5.61 Decreased By ▼ -0.04 (-0.71%)
KAPCO 27.84 Increased By ▲ 0.04 (0.14%)
KEL 2.15 Increased By ▲ 0.02 (0.94%)
LOTCHEM 24.52 Increased By ▲ 0.22 (0.91%)
MLCF 21.75 Increased By ▲ 0.35 (1.64%)
NETSOL 84.19 Decreased By ▼ -0.01 (-0.01%)
OGDC 87.30 Decreased By ▼ -0.64 (-0.73%)
PAEL 10.95 Increased By ▲ 0.05 (0.46%)
PIBTL 4.24 Increased By ▲ 0.06 (1.44%)
PPL 76.63 Decreased By ▼ -1.07 (-1.38%)
PRL 13.69 Increased By ▲ 0.07 (0.51%)
SILK 0.90 Increased By ▲ 0.01 (1.12%)
SNGP 41.52 Decreased By ▼ -0.41 (-0.98%)
TELE 5.95 Increased By ▲ 0.08 (1.36%)
TPLP 15.77 Decreased By ▼ -0.01 (-0.06%)
TRG 111.25 Decreased By ▼ -1.05 (-0.93%)
UNITY 13.92 Decreased By ▼ -0.03 (-0.22%)
WTL 1.14 Increased By ▲ 0.01 (0.88%)
BR100 4,046 Decreased By -1.8 (-0.05%)
BR30 14,434 Decreased By -33.1 (-0.23%)
KSE100 40,620 Decreased By -53.1 (-0.13%)
KSE30 15,170 Decreased By -20 (-0.13%)
Follow us

LAHORE: Ambassador of Germany Alfred Grannas has said that there is a lot of potential for trade between Germany and Pakistan and that the two countries should explore more sectors in which they may enhance cooperation.

He was speaking at a meeting at the Lahore Chamber of Commerce and Industry. LCCI President Mian Nauman Kabir, Senior Vice President Mian Rehman Aziz Chan and Vice President Haris Ateeq also spoke on the occasion.

The German ambassador said that Pakistan needs to focus on diversification in its export basket in order to enhance its exports not only to the Germany but globally. He said that the quality is specialty of German products as the German companies do not compromise on the quality. Therefore, they also expect same standard of quality for imports.

He said that Germany is keen to establish close contacts between the Chambers of Commerce. He said that German Emirati Chamber of Commerce is also being established. He said that there is a need to strengthen B2B contacts among the business community of Pakistan and Germany.

He said that both the countries are best partners and Pakistan can benefit from German expertise in various sectors.

LCCI President Mian Nauman Kabir said that Germany has the largest economy in European Union with GDP in excess of US 4.2 trillion dollars and in terms of area, it is seventh-largest country in Europe.

He said that despite the fact that Germany is one of the most densely populated European countries but its one-third area is still covered with forests and woodlands.

The LCCI president said that the globally famous brand names like Volkswagen, Allianz, Mercedes-Benz, BMW, SAP, Bosch and Siemens etc, give exceptional distinction to Germany.

He said that Germany is one of the world’s leading book nations as more than 94,000 titles published every year.

Mian Nauman Kabir said that Germany was the first country in the world to adopt daylight saving time. Moreover, Germany is one of the largest solar power producers in the world. Germany has also made tremendous development in the education sector as it is the 5th most popular country for international students. There are around 400 universities in Germany that deliver over 17,000 study programmes.

He said that these few facts describe Germany being historically and culturally rich country that has got great standing among the technologically advanced countries in the world.

He said that Pakistan and Germany have very cordial diplomatic relations and are steady trading partners. Germany is one of the few trillion economies in the world and we are glad to have trade and investment relations with Germany.

The LCCI president said that Germany happens to be the biggest trading partner of Pakistan in European Union. Regarding top importing and exporting destinations of Pakistan in EU, Germany comes at first place.

He said that these facts are encouraging for us that Pakistan is maintaining favourable balance of trade with Germany for the last few years and at present both imports and exports are following increasing trend.

He said that according to ITC Trade map, Pakistan’s exports to Germany increased from 1.4 billion dollar in 2020 to 1.6 billion dollar in 2021. Similarly the imports from Germany also went up from US 857 million dollars to 1.02 billion dollars during that period. That resulted in taking the overall trade level from US 2.25 billion dollars in 2020 to US 2.58 billion dollars in 2021.

Mian Nauman Kabir said that Pakistan’s exports to Germany are heavily dominated by textiles. Other exports include articles of leather, footwear, rice etc. The imports from Germany consist of machinery, pharmaceutical products, chemicals, surgical instruments, articles of plastic, iron & steel etc.

“We from the platform of LCCI will be glad to get engaged with diplomats from German Embassy for the purpose of further strengthening the mutual relations between two countries”, he added.

He said that Pakistan will certainly welcome German investors in Pakistan and Pakistani businessmen are also interested to be partner with them in transfer of technology and joint ventures especially in the sectors like automobile, renewable energy, tourism and pharmaceuticals etc.

The LCCI chief mentioned that the efforts made by some German organizations like GIZ and GTZ particularly in the field of technical and vocational trainings in Pakistan.

LCCI Vice President Haris Attique said German embassy can play a crucial role in strengthening the B2B contacts among the business community of both sides. He said that Pakistan is introducing a long-term policy on renewable energy so German investor should invest in this particular sector in Pakistan.

Copyright Business Recorder, 2022


Comments are closed.

German envoy visits LCCI: ‘Pakistan, Germany should explore more sectors to enhance trade’

Rupee sustains losses, settles at 268.83 against US dollar

Fawad granted bail by Islamabad court

Imran says governor KP's letter to ECP regarding delay in polls raises 'suspicions’

Cannot rule out internal assistance for Peshawar bombing: police

Peshawar attack: ‘Who brought the terrorists back?’, asks PM Shehbaz

US Fed set to slow rate hikes but signal inflation fight not over

Hyundai-Nishat jacks up car prices by up to Rs500,000 in Pakistan

Maryam Nawaz says PML-N will clean sweep upcoming elections

PSX sees range-bound session, KSE-100 falls 0.13%

US, India partnership targets arms and AI to compete with China