Germany supports GSP Plus Status for Pakistan, stresses strengthening bilateral trade

Ambassador of Germany in Pakistan Dr. Cyrill Nunn fully supported Pakistan in getting ‘GSP Plus’ status by European Union and intends to invest in Pakistan as a production base for exports to other SAARC countries. He expressed this in a meeting with Senior Commerce Minister Mr. Makhdoom Amin Fahim here Thursday.
The Ambassador said that Germany is desirous and committed to further enhancing trade relations and many German companies are keen to invest in Pakistan especially in energy and power sector. Besides huge economic benefits of GSP Plus status to Pakistan, this scheme will also favorable for Germany in political terms as after implementation of GSP Plus, Pakistan will strictly comply to all human rights matters in return, added by ambassador.
Senior Commerce Minister thanked Germany for playing its positive role in GSP Plus status to Pakistan and for extending support in getting enhanced market access for Pakistani products in EU.
The meeting proposed that Germany and Pakistan should work on strengthening bilateral trade relations, besides Pakistan specific trade relations with EU. In this context, Agriculture Minister of Germany is going to visit Pakistan in two months to discuss agricultural trade with Pakistan, as informed by Ambassador. In the same way, Minister for Foreign Affairs of Pakistan Hina Rabbani Khar is planning to visit Germany next month.
The meeting also discussed fisheries exports to EU. Fahim informed the German ambassador that Pakistan’s fisheries facilities are now meeting international standards and Germany may assist Pakistan in early resumption of fisheries exports to EU.
It is worth mentioning here that Germany is Pakistan’s largest trading partner within the European Union, accounting for 20% of Pakistan’s total exports to the EU and 21% of Pakistan’s total imports from the EU.
Pakistan’s exports to Germany have increased form US$ 579.8 million in 2002-03 to US$ 1.27 Billion in 2010-11 and imports from Germany have increased form US$ 562.5 million in 2002-03 to USS$ 938.48 million in 2010-11.