Continuation in duties' relaxation would improve Pakistan's export to EU countires

German Ambassador to Pakistan Bernhard Schlagheck says bilateral trade between two countries is around €3 billion

LAHORE: German Ambassador to Pakistan Bernhard Schlagheck said that economic ties of Pakistan and Germany are very strong, stressing the need for technology transfer to establish joint ventures to enhance exports by producing value-added products in the country.

While talking to a delegation of the All Pakistan Business Forum (APBF), the ambassador expressed hope over extension in GSP Plus status, saying continuation in duties’ relaxation for Pakistan would further improve its exports to EU countries, including Germany.

He added that Pakistan and Germany’s bilateral trade has been around €3 billion, while trade balance is also in favour of Pakistan.

The ambassador vowed to play an effective role in improving the trade relations between the two countries. Furthermore, he emphasised that the biggest asset of Pakistan lies in its abundant youthful workforce. “If they are trained and educated well by the government, this workforce could be the main strength in Pakistan’s industrial development.”

Schlagheck stated that Germany wanted to further enhance trade relations with Pakistan and added that German delegations are scheduled to visit Pakistan to explore business collaborations with Pakistani counterparts.

Moreover, he informed the delegation that over 280 Pakistani companies participated in the Heimtextil 2020 International Trade Fair recently held in Frankfurt, which was a record participation. He elaborated that companies from both countries should actively participate in each other’s trade fairs to further enhance bilateral trade and business relations.

Also speaking at the occasion, APBF President Syed Maaz Mahmood urged German investors to take benefit of these opportunities by investing in Pakistan. He cited information technology and pharmaceutical sectors as other potential areas for cooperation between the two countries.

The president apprised that APBF has made numerous valuable contributions to the progress and growth of the national economy. He appreciated the efforts and support of the government of Germany and its people to Pakistan, especially GIZ LSP Program, which had engaged all the relevant stakeholders along with private sector and the business community to improve labour standards to the level of international standards.

In his concluding remarks, the German ambassador said that he is ready to cooperate with the APBF in facilitating visit of the business delegation to Germany. Both sides agreed to boost bilateral trade and investment through a proactive approach and improved engagement.

Published in The Express Tribune, March 8^th, 2020.

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