German investment playing important role in Pakistan’s economy, says FPCCI president)

ISLAMABAD: President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zakaria Usman on Wednesday said that Pak-German Chamber of Commerce and Industry (CCI) is an important step to boost the trade and investment relations between both the countries.

He indicated that Germany is the 4th largest trade partner of Pakistan and its investment in Pakistan in the big companies is playing an important role in the economy of Pakistan.

He said many German Companies such as Siemens, MULTIVAC, Gmbh, GWE, EFU life Assurance, Merck (Pvt) Limited, Schneider Electric, Bayer, BASF, Hoecht etc are operating in Pakistan successfully.

He said the German companies are also bringing investment specially in energy electricity pharmasutical industries. They are also providing opportunities for import substitution sectors including value added products. They are also helping to make branded products, he added.

He said bilateral trade between Pakistan and Germany currently stands at US$ 1.89 billion and is in favor of Pakistan. He said Pakistan is exporting textiles, leather goods, medical instruments, rice and jewelry to Germany and importing machinery, chemical products, electrical goods, motor vehicles and iron from Germany.

He said Germany can help Pakistan in badly required infrastructural development including construction of ports, railways, high ways and energy related infrastructure.

He said in past, German firms have shown their interest in production of energy by utilizing indigenous Thar coal.

It is important that China and Germany are two countries which have confirmed that Thar coal can be utilized for the production of energy at large scale and Thar coal has sufficient sulphur and water ingredients required for the production of energy. German firms had filed their bids for the production of energy through coals.

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