There is potential to improve the volume of bilateral trade between Pakistan and Switzerland, which currently stands at around $749 million, said the Consul General of Switzerland in Karachi Emil Wyss.
Talking to the Karachi Chamber of Commerce and Industry (KCCI) office bearers during a visit, Wyss said, “I am very happy to share that your country is on the radar of the Swiss Small and Medium Enterprises (SMEs). Later this year, a multi-sector delegation of these SMEs will visit Pakistan.”
KCCI President Abdullah Zaki expressed gratitude to the Swiss government for supporting Pakistan in securing European Union’s (EU) GSP Plus status and hoped to receive similar assistance and cooperation in the future too.
“Switzerland ranks fifth in terms of foreign direct investment (FDI) in Pakistan. Both countries have enjoyed cordial, friendly and multifaceted ties,” said Zaki, highlighting the significance of enhanced bilateral trade. “Many Swiss companies are successfully operating their businesses in Pakistan in various sectors including energy, chemicals, pharmaceuticals, agriculture, catering, food, telecommunication, and machinery and construction material.”
He further pointed out that Pakistan exported goods worth $71.28 million to Switzerland whereas goods imported from Switzerland stood at $677.52 million during the fiscal year 2013-14, making trade balance favourable for Switzerland.
“There is a huge potential for investment in Pakistan on 100% equity basis or joint ventures with local industries. Pakistan can also benefit from Swiss expertise in energy sector, mining, agriculture and equity market. Cooperation is also possible in supplying raw materials and finished products for fertilizers and chemicals in Pakistan,” said the KCCI president.
He said the present level of trade volume is not in favour for both nations. There are many business options where both countries can create lasting and highly valuable commercial partnerships.
Pakistan’s exports to Switzerland mainly include leather, apparel, textiles and beverages while major imports from Switzerland are pharmaceutical products, machinery, organic chemicals, electric and electronic equipment.
Published in The Express Tribune, September 5th, 2014.
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