Karachi, November 12, 2014 (PPI-OT): President Federation of Pakistan Chambers of Commerce and Industry Mr. Zakaria Usman indicated that Pak-German Chamber of Commerce and Industry is an important step to boost the trade and investment relations between both the countries. He indicated that Germany is the 4th largest trade partner of Pakistan and its investment in Pakistan in the big companies is playing an important role in the economy of Pakistan.
Many German Companies such as Siemens, MULTIVAC, Gmbh, GWE, EFU life Assurance, Merck (Pvt) Limited, Schneider Electric, Bayer, BASF, Hoecht etc are operating in Pakistan successfully. The German companies are also bringing investment especially in energy electricity pharmaceutical industries. They are also providing opportunities for import substitution sectors including value added products. They are also helping to make branded products.
Bilateral trade between Pakistan and Germany currently stands at US$ 1.89 billion and is in favour of Pakistan. Pakistan is exporting textiles, leather goods, medical instruments, rice and jewellery to Germany and importing machinery, chemical products, electrical goods, motor vehicles and iron from Germany.
Germany can help Pakistan in badly required infrastructural development including construction of ports, railways, high ways and energy related infrastructure. In Past, German firms have shown their interest in production of energy by utilizing indigenous Thar coal.
It is important that China and Germany are two countries which have confirmed that Thar coal can be utilized for the production of energy at large scale and Thar coal has sufficient sulphur and water ingredients required for the production of energy. German firms had filed its bids for the production of energy through coals.
For more information, contact:
M. A. Lodhi
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: +92-21-35873691, 93-94