Home »Business and Economy » Pakistan » German envoy expresses confidence in CPEC
The German ambassador has claimed that the China-Pakistan Economic Corridor will make Pakistan an attractive business destination for the world. Diplomat Ina Lepel talking to Lahore Chamber of Commerce senior Vice President Almas Hyder and Vice President Nasir Saeed on Tuesday said visits by several German delegations to Pakistan were ample proof that Germany considered trade and economic ties as important.

She said, "A high-powered German business delegation, led by the deputy minister, will visit Pakistan in the middle of the year. Germany is also planning to hold a spring festival in Lahore in April. "The strong liaison between Chambers of Commerce and Industry and business institutions of the two countries will definitely enhance the mutual trade volume. Therefore, the Lahore Chamber of Commerce and Industry should take a stride."

Senior Vice President Hyder told his guest, "Pakistan and Germany have very cordial diplomatic relations and are steady trading partners heading towards finding new avenues of trade and investment. Germany is one of the few trillion economies in the world and we are glad to have trade and investment relations with Germany.

"Pakistani exports to Germany have registered an upward trend from 2012 on with $989 million to $1.08 billion and $1.22 billion in the next two years. The imports from Germany to Pakistan were over one billion dollars in 2014 that resulted in taking the overall trade level to $2.29 billion. With such a trend that has now put Pakistan in a favourable balance of trade with Germany we can benefit a lot in the near future.

We look up towards Germany to further help us in addressing the energy crisis in Pakistan. Germany has earned respectable name in the field of alternative energy solutions in the world."

Vice President Saeed said, "The ongoing China-Pakistan Economic Corridor project offers a lot to international investors as well. It goes without saying that any project initiated in Pakistan will automatically result in creating business opportunities that can be extended to the regional countries including Central Asian States. "Other important sectors where German investors can benefit a lot are oil and gas, food and food processing, cold chain system, dairy processing and engineering etc. He also praised the efforts made by certain German organisations, especially in the field of technical and vocational training in Pakistan." Those also present were former Lahore Chamber presidents Ijaz Butt, Ijaz Mumtaz, Mian Muzaffar Ali, former senior vice president Tahir Javed Malik and former vice president Aftab Ahmed Vohra.

Copyright Business Recorder, 2016

the author