Consul General of Switzerland in Karachi Emil Wyss has said that there is potential to improve the volume of bilateral trade between Pakistan and Switzerland which currently stood at around US$ 748.80 million.
Talking to KCCI office-bearers and managing committee members during his visit to Karachi Chamber, the Swiss consul general added, “I am very happy to share that your country is on the radar of the Swiss Small and Medium Enterprises (SMEs). And later this year a multi-sector delegation of these SMEs will visit Pakistan”.
Businessmen Group Vice Chairman Anjum Nisar, KCCI President Abdullah Zaki, KCCI Senior Vice President Muffasar Atta Malik, KCCI Vice President Muhammad Idrees, Chairman Diplomatic Affairs Sub-Committee, Abdul Jabbar Dalal, Former President KCCI, Majyd Aziz and KCCI managing committee members attended the meeting.
The Swiss consul general appreciated the positive contribution of KCCI members for the progress and prosperity of Karachi city’s economy which was essential for Pakistan.
Earlier, while welcoming the Swiss consul general Abdullah Zaki expressed gratitude to the Swiss government for supporting Pakistan in securing European Union’s GSP Plus status and hoped to receive similar assistance and cooperation in future as well.
Highlighting the significance of enhanced bilateral trade between Pakistan and Switzerland, Abdullah Zaki pointed out that both countries had always enjoyed long-standing, cordial, friendly and multifaceted ties and Switzerland ranks 5th in terms of foreign direct investment (FDI) in Pakistan. He noted that many Swiss companies were successfully operating their businesses in Pakistan in various sectors of the economy including energy, chemicals, pharmaceuticals, agriculture solutions, catering, food, telecommunication, quality testing, machinery and construction material.
He informed that during fiscal year 2013-14, Pakistan exported goods worth $71.28 million to Switzerland whereas goods imported from Switzerland stood at $677.52 million making trade balance favorable for Switzerland.
Pakistan exports to Switzerland mainly include leather and articles of leather, apparel, other textiles and beverages while major imports from Switzerland were pharmaceutical products, machinery, organic chemicals, electric and electronic equipment, he added.
The KCCI president said that there was a huge potential for Swiss businessmen to invest in Pakistan on 100 per cent equity basis or undertake joint ventures with local industries. On the other hand, Pakistan can also benefit from Swiss expertise in energy sector, mining, agriculture and equity market. The possibility of cooperation also exists in supplying raw materials and finished products for fertilizers, chemicals, and pharmaceutical industry in Pakistan.
He stressed the need to enhance volume of trade between Pakistan and Switzerland as the present level of trade volume was not in favor of both nations. There were many significant opportunities for business communities of Pakistan and Switzerland towards creating lasting and highly valuable commercial partnerships.
“There is also a need to effectively utilize trade talks, exhibitions and other trade promotion strategies which can prove beneficial for promotion of bilateral trade between the two countries,” he added.
