Karachi Chamber of Commerce & Industry’s President Mian Abrar Ahmad urged the support of Germany for Pak EU bilateral investment treaty in order to fortify trade with the countries of European Union. He stated that Pakistan is the most promising country for investment by German investors. While exchanging views with the First Secretary & Head of Economic Section of German Embassy in Pakistan Samy Saadi 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 other’s investors. The ‘Agreement on Encouragement and Reciprocal Protection of Investments’ will cover all modern and legal requirements that the investor needs to invest in other countries with complete protection. Germany is an important country in European Union which can help Pakistan for getting concessional regimes in EU, GSP plus and further entering to Preferntial and Free Trade Agreement with the EU with preferred market access, he maintained.
First Secretary & Head of Economic Section of German Embassy in Pakistan Samy Saadi recognized the vibrant role of Karachi Chamber to promote trade and industry. He said that many leading German companies including Siemens, MAC, Bayer, Linde and other are successfully operating in Pakistan more German companies are expected to invest in Pakistan. He informed that German Trade Show was organized in Punjab to introduce the presence of German companies and similar show is planned in Karachi. METRO is further expanding its stores and helping in agriculture sector to farmers, he said. He stated the deliberations were underway and Pak-German Bilateral Treaty will be revised soon. Germany supports Pakistan for GSP plus in EU as well as the signing of Pak-EU bilateral investment treaty. He appreciated that the trade of Pakistan with regional countries would bring economic stability. Within EU Germany has become the biggest trading partner with Pakistan and German investment in Pakistan is likely to rise, he maintained.
Courtesy: Project Syndicate
