German Companies To Boost Trade Ties With Pakistan: HumSub.TV

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German Companies To Boost Trade Ties With Pakistan

German Companies To Boost Trade Ties With Pakistan: Most German companies usually look for trade opportunities in China and India whereas Pakistan, with a population of over 200 million, can also offer a lot to Bavarian businessmen and investors, said Bavarian State Ministry of Economic Affairs Senior Ministerial Consul Ulrich Konstantin Rieger.

Speaking at the Karachi Chamber of Commerce and Industry (KCCI), while leading a 32-member German delegation, Rieger said, “There is a great potential for enhancing bilateral trade and we must use this potential. We have observed that Pakistani businessmen are very active and innovative all over the world and also in Germany.”

He shared with the audience that the delegation was visiting Pakistan in a bid to find avenues of cooperation and new business ideas and would be happy to cooperate in the transfer of technology. “One of the secrets behind the success of Bavaria is vocational training and development of SMEs. We can support Pakistan in vocational training,” Rieger said.

Referring to the difficulty in getting Germany’s visa, he pointed out, “It is much easier to come to Pakistan from Germany, but if a businessman from Pakistan wants to come to Germany, it’s not too easy due to the Schengen system.”

German Companies To Boost Trade Ties With Pakistan
German Companies To Boost Trade Ties With Pakistan

KCCI president said trade between Pakistan and Germany significantly improved in the last decade.

In 2017, Pakistan exported merchandise worth $1.87 billion to Germany as against $1.68 billion in 2016, showing growth of 12 percent. Pakistan’s imports from Germany rose five percent to $1.36 billion during the year.

Makda said German programs like BFZ’s Espire Project by Bavarian Employers Association and GIZ Asia Social and Labor Standards in textile and garment sector proved instrumental in capacity building of industries and organisations.

“Such collaborations and cooperation should further be strengthened,” he added.

“There is a substantial room available for Pakistani products like halal foodstuff, dairy products, textiles, cotton, which can be exported to Germany while Pakistani industries can greatly benefit from German technological advancements.”

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