Jam, German minister discuss avenues to bolster trade ties

ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan met with Germany’s Federal Minister for Economic Cooperation & Development, Svenja Schulze on Wednesday and discussed avenues to bolster economic and trade relations between the two countries.

The meeting focused on advancing economic collaboration, with a particular emphasis on sustainable business practices and labour standards.

Minister Jam Kamal lauded Germany’s leadership in promoting sustainability through initiatives like the German Supply Chain Due Diligence Act.

He highlighted Pakistan’s ongoing efforts to improve labour standards and environmental sustainability in its textile industry, and sought German support for capacity-building and technical assistance to help Pakistani SMEs comply with these new regulations.

Minister Schulze responded by highlighting the long-standing historical relationship between Germany and Pakistan, which has spanned many decades.

She noted that many German companies are operating successfully in Pakistan, particularly in the textile sector, and praised the robust business ties between the two countries.

Minister Schulze also emphasized the importance of women’s empowerment across all sectors, a priority she shared with Minister Jam Kamal.

While acknowledging cultural and regional challenges, Jam Kamal reiterated Pakistan’s commitment to gradually enhancing women’s roles, particularly through initiatives like the Female Exclusive Training Institute (FETI) in Faisalabad. He urged Germany to continue its support for these efforts and other initiatives.

The ministers also discussed the potential for increased collaboration between their respective business communities.

The discussion highlighted the National Compliance Centre (NCC), an initiative led by the Ministry of Commerce to promote labour compliance and social responsibility in Pakistan.

The centre, the first of its kind in the country, aims to improve labour, social, and environmental standards, making Pakistani businesses more competitive and sustainable. The NCC will address industry concerns through a cluster approach, focusing on areas such as human rights, climate change, labour rights, traceability, and quality assurance.

Both Ministers reaffirmed their commitment to deepening bilateral cooperation in trade and investment.

Copyright Business Recorder, 2024