Pakistan has all resources to attract foreign investment

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Pakistan has all resources to attract foreign investment

Karachi: German Ambassador Cyrill Nunn apprised that within EU, Germany has become Pakistanís biggest trading partner.

During his visit to Karachi Chamber of Commerce & Industry he said Germany ranks as 9th largest trading partner even ahead of UK. There are many opportunities in the economic field and there is a lot of potential between the two friendly countries which can be further developed. Pakistanís exports to Germany in 2012 were worth $1151 million while imports were $1174 million.

Nunn recognised the vibrant role of KCCI in promotion of trade and industry and stated that KCCI is the powerful agent of economic change in Pakistan. He urged coordination of KCCI with German Embassy and Pakistan German Business Forum (PGBF) to market products ďMade in PakistanĒ.

Pakistan has all resources to attract the foreign investment. He highlighted that German Mission is committed to bring German Business in Pakistan. The PGBF will transform to bilateral chamber of commerce soon.† No German company operating in Pakistan says itís an inappropriate place for business. Offering enabling environment, business grow and all fringe benefits come accordingly.

To attract fresh German investment, good care of existing German investment and provision of conducive environment is essential. Fresh investment is subject to economic reforms, mainly provision of better security conditions, energy and rule of law (protection of rights). Business in Pakistan is easy as compared to other regional countries and the Nation has qualified people and immense resources, he added.† President KCCI Haroon Agar said that Pakistan and Germany friendly relations are deep-rooted and encompassed over last many decades. Germans are well aware about the strength of Pakistan which is concealed due to huge propaganda drum beat in the Western media and biased reporting about the perception of Pakistan by western channels in the countries around the globe, he said.

He articulated that Pakistan and Germany have upgraded their 50 year old trade and investment treaty for providing better opportunities and protection to each otherís investors. The ĎAgreement on Encouragement and Reciprocal Protection of Investmentsí will cover all modern and legal requirements that the investor needs to invest in other countries with complete protection. He requested the German Ambassadors to invite German companies operating in Pakistan to exhibit in KCCIís My-Karachi Exhibition scheduled in July 2013 at Expo Centre Karachi.

Dr. Tilo Klinner, Consul General of the Federal Republic of Germany, Majyd Aziz, Former President KCCI, Shamim Firpo, Senior Vice President, Nasir Mehmood, Vice President, Junaid Esmail Makda Chairman International Affairs KCCI and Managing Committee Members of KCCI also participated in the meeting.

Courtesy: The Nation

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