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Lahore, February 25, 2014 (PPI-OT): German Ambassador to Pakistan Dr Cyrill Jean Nunn has said that GSP Plus is not textiles specific alone but it offers opportunities to other sectors of the economy as well therefore Pakistani businessmen should get this benefit and enhance their interaction with European counterparts.
The Ambassador was speaking at the Lahore Chamber of Commerce and Industry on Tuesday. LCCI President Engineer Sohail Lashari presented the address of welcome while Senior Vice President Mian Tariq Misbah, Vice President Kashif Anwar, former Vice President Saeeda Nazar, Head of Economic Section of German Embassy Samy Saadi, Executive Committee member Mian Muhammad Afzal and former EC member Rehmatullah Javed also spoke on the occasion.
He said that the GSP Plus would give great boost to Pakistan’s business with European countries is almost all sectors of the economy including leather and sports goods.
The Ambassador said that Germany intended to develop and strengthen mutual trade relations with Pakistan and would make all out efforts for ensure access for exporters to the European Union (EU) and German markets.
He expressed the optimism that there would be investments in Pakistan by different companies of Germany as they had shown a keen interest, especially in the energy sector.
He said several German companies were ready to establish joint ventures with business community of Pakistan in different trade fields. “Both countries have enjoyed good friendly and cordial trade relations, and the time is ripe to further strengthen the mutual trade ties,” said Nunn.
Apart from bilateral trade and economic relations, the LCCI President Engineer Sohail Lashari threw light on rich German history, culture and its contribution to the society particularly after World War II.
The LCCI President Engineer Sohail Lashari said that consistent rise in two-way trade was evident of the fact that the joint efforts made at public and private sectors level were paying off. Therefore, there was a need to maintain that positive trend to minimize trade deficit gap.
He said that Pakistan had been experiencing a positive balance of trade with Germany but in 2012, it was not the case. However, optimism is there to get back to the same scenario. Engineer Sohail Lashari said that the business community was grateful to Germany for supporting Pakistan with regard to GSP plus status.
“We look up to Germany to further help us in addressing the energy crisis in Pakistan. The upcoming trade opportunities under GSP plus scheme can only be availed if we have enough supplies of electricity and other sources of energy.”
The LCCI President said that Germany has earned respectable name in the field of alternative energy solutions in the world while Pakistan was in dire need of energy therefore transfer of technology and joint ventures in this regard could be a great favour to Pakistan’s economy.
Engineer Sohail Lashari said that Pakistan offers a great potential for foreign investment by way of having a strategic location with abundant raw materials and cheapest labour force.
It goes without saying that any project initiated in Pakistan will automatically result in creating business opportunities that can be extended to the regional countries including Central Asian States.
The LCCI President said that other important sectors to the benefit of German investors are: oil and gas exploration, food and food processing, cold chain system, agriculture tractors and machinery, dairy processing and equipment, engineering and services etc.
Engineer Sohail Lashari said that Pakistan is renowned for producing the finest quality of fresh fruits and vegetables, leather goods, sea food, readymade garments, bed linen and hosiery etc. Some foreign investment in food processing and packaging can turn these products much more marketable and attractive for international market.
For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854