ISLAMABAD: Ambassador of Germany Ina Lepel has said that Germany has financially supported major hydropower projects and up-gradation of distribution system in Pakistan.

While addressing the ICCI business community Ambassador of Germany Lepel said that Germany was currently focusing on renewable energies and energy efficiency in Pakistan including consultancy for individual enterprises on energy conservation in their production processes.

She said that the Pakistan-German Renewable Energy Forum will open soon for business since a German business delegation along with Deputy Foreign Minister had already visited Pakistan in last June to explore new avenues of mutual cooperation.

Lepel said that the GSP+ was a key driver for promoting bilateral trade between Pakistan and Germany and Germany was looking at ways of helping Pakistani business community to fully avail from the available opportunity.

However, she cautioned that GSP+ preferences should not be taken for granted as Pakistan has to ensure compliance with 27 international conventions including human rights, governance and labor standards etc. She said that some European countries have concerns over death penalty in Pakistan which should be addressed on priority basis.

She said that the German Embassy was working with the Pakistani business community to strengthen Business Institutions. She said that the Pakistan-German Chamber of Commerce and Industry has been granted license which would further improve bilateral trade and economic relations.

President ICCI Atif Ikram said that given the market size of Pakistan and Germany, bilateral trade of $2.3 billion in 2014 was not up to real potential of both countries and there was a great need of diversifying two-way trade by focusing on more products. He emphasized that German companies and investors should explore Pakistan for investment and joint ventures.