Ambassador of Germany Dr Michael Koch said that his country, the world leader in renewable energy, is ready to extend cooperation to Pakistan in bridging the demand and supply gap. The German Ambassador was speaking at the Lahore Chamber of Commerce and Industry on Wednesday. LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar also spoke on the occasion.
The Ambassador said that renewable energy sources could help protect the Pakistani government against cost increases as has recently been experienced in the case of crude oil. He said that Pakistan could avail German expertise for installation of renewable energy projects to overcome the acute energy shortage. Regarding trade between Pakistan and Germany, the Ambassador said that concerted efforts will be made to take the bilateral trade volume at new heights. He said that the German market is open for investment in all industry sectors, while business activities are free from regulations restricting daily business. He said that German laws make no distinction between Germans and foreign nationals regarding investment for establishment of companies. Pakistani businessmen could, therefore, initiate joint ventures with their German counterparts. While terming the vocational training as a cornerstone of economic development, the Ambassador said that Germany will continue to extend cooperation to Pakistan for strengthening its human resource.
He said that Pakistan’s agriculture sector has a huge potential, as the country’s fruits are of the best quality. He stated that Pakistan could earn the much-needed foreign exchange by exporting its fruits to Germany. The Ambassador stressed on the need for a rapid exchange of delegations and a frequent interaction among business communities of the two countries. This would considerable boost up foreign direct investment in Pakistan, he felt.
