Germany sends bilateral treaty for EU approval
Bilateral Investment Treaty (BIT) signed by Germany and Pakistan in 2009 has been ratified by the German parliament which has sent it to the European Commission for final approval, Pakistan’s Ambassador to Germany Shahid Kamal said on Saturday in Karachi.
Under BIT, investors of both the countries will be given protection and there will be more German investment in Pakistan in the next three to five years, Kamal added. Pakistan’s exports to Germany during 2011 are expected to be around $1.5 billion, with balance of trade in favour of Pakistan.
Germany, was the fifth largest investor in Pakistan in 2009-2010. “We are trying to set up German-Pakistan Chambers of Commerce which will enhance connectivity between the private sectors of both countries,” he stated.
Published in The Express Tribune, November 13th, 2011.
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well done to our foreign office and foreign mission in Germany for expanding trade ties and increasing exports to Germany. Having a positive trade balance with Germany is an achievement and speaks volumes of our products - proper marketing and well organized trade fairs can boost our exports in other countries as well. Good job Ambassador Kamal and Co.!