KARACHI: Swiss Ambassador to Pakistan Christoph Bubb said that the bilateral trade between the two countries was picking up in the aftermath of the global recession. Bilateral trade between two countries, which had shown consistent growth over the past several years, was now showing further improvement as signs of the global recession are fizzling out, he said.
He was talking to newsmen at a dinner-reception arranged in his honour by the Swiss Consul General Didier Boschung in Karachi. The Swiss Ambassador said the balance of trade has been in favour of Switzerland but Pakistan has considerably increased exports to the European country in recent years.
Ambassador Bubb pointed out that Karachi is one of the world’s largest metropolitan cities and an important contributor to the national and global economy.
It holds a particular significance for Switzerland as out of 18 Swiss multinational companies operating in Pakistan, 15 are established in Karachi and are successfully operating in key sectors such as pharmaceuticals, chemicals, banking and other service industries, he added.
These companies stand for reliable and high-quality products and services and offer thousands of attractive employment opportunities across the country, he added.
The Swiss companies operating here are generally satisfied with the course of business and, based on the market potential, maintain an optimistic outlook despite concerns related to the ongoing energy shortage and the law-and-order situation, Bubb further said.
Karachi, he elaborated, continues to be the headquarter of local representatives/ trading partners of about 200 Swiss companies, the majority of which pertain to machinery, equipment, watches, pharmaceutical and chemicals sectors.
In the machinery group, food processing, textile and accessories manufacturers have a major representation and hold a distinct position in the market, he said.
The Consul General of Switzerland, Didier Boschung hosted a dinner reception at his residence to welcome the new Ambassador of Switzerland, Christoph Bubb and his wife in Karachi. This is their first visit to the metropolitan area since the Ambassador took charge of his office in Islamabad on October 20, 2010.
During his stay in Karachi, the Ambassador met with government officials, heads of Swiss companies operating in Karachi and representatives of the business community as well as civil society and media.
The Swiss Agency for Development and Cooperation (SDC) is successfully operating in Pakistan as an integral part of the Embassy of Switzerland in Islamabad since 1966.
The SDC’s program focuses on two areas: “Improving Governance” and “Increasing Income.
The flood victims received drinking water, food and hygiene kits, tarpaulins and plastic sheeting for shelters and tents along with household kits and hygiene articles in the severely affected areas of the Swat Valley and Sindh.
Additionally, the Government of Switzerland has initiated a two year Project named “Responsible Foreign Direct Investment (FDI) in Pakistan”. The purpose of this project is to promote 10 globally accepted principles of UN Global Compact on key issues such as human rights, labour, environment and anti-corruption by engaging the subsidiaries of Swiss multinational companies in Pakistan and their supply chain. The first milestone achieved in this context is the signing of a Memorandum of Understanding (MoU) between UN Global Compact Pakistan Local Network (UNGCPLN) and the Swiss Business Council (SBC).
