Plattner said that Swiss companies have invested more than $1 billion over the years but they are reluctant to investment anymore.
The economic ties between Switzerland and Pakistan are built on solid ground, a reality which the present economic circumstances cannot change, he added. He suggested enhancing cooperation at the forum of Pak-Swiss Business Council in Punjab.
Trade between Pakistan and Switzerland had been gradually increasing until recent years and reached about half a billion Swiss francs in 2008, he added.
Swiss companies have come to this country with a long-term perspective as Pakistan is a market of 180 million people.
President FCCI Muzammil Sultan said that Faisalabad alone contributed about 40% of the country’s total textile exports and has a tremendous trade potential between the two countries.
In fiscal 2010, Switzerland was the fifth largest foreign direct investor into Pakistan with an investment of $170.6 million. This is proof that Pakistan has the potential for foreign direct investment, added Sultan.
Published in The Express Tribune, December 6th, 2011.
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Most Western nations and the US have to focus on their own economic problems such as the debt crisis which threatens to sink the whole world into a gigantic recession. When the West has difficulty bailing out the debt of Greece, Spain, Ireland, Croatia, Italy and Portugal how can they possibly think of investing in other nations. The Slovaks are upset they have to bail out the corrupt Greeks and Germans are upset that they have to bail out who they perceive to be everyone else in Europe. The US has its own challenges with its trillion dollar debt. The Swiss may not be part of the European Union but no doubt, they too fear the looming global economic collapse.