RAWALPINDI - Germany, the largest and healthiest economy in the European Union (EU), has long trade ties with Pakistan. German textile machinery has also played an important role in development of Pakistan’s textile industry.
“Germany is the largest trade partner of Pakistan among EU. The volume of commercial trade between Islamabad and Berlin is 2.89 billion dollars in comparison with 2011-12 when it was 2.32 billion dollars and would be enhanced further since Pakistan got the GPS Plus status” said German Ambassador to Pakistan Dr Cyrill Nunn during his visit to Rawalpindi Chamber of Commerce and Industry here on Wednesday. RCCI President Dr Shimail Daud Arain, senior vice president Malik Shahid Saleem, vice president Muhammad Alam Chughtai, former presidents, members’ executive committee and other members of the Chamber were also present on the occasion.
Dr Cyrill Nunn, speaking further, said that Germany remained one of the vocal and staunch supporters of Pakistan and has taken extreme measures to aid the South Asian country in its economic and governmental hardship. “Germany maintains a healthy diplomatic presence in the country, with an embassy in Islamabad, a consulate in Karachi and honorary-consulate in Lahore, Peshawar, and Quetta” he said, adding that Germany also was one of the European countries which played a vital and an influential role in country’s upcoming political events, others being Saudi Arabia, China, United States of America (USA) and the United Kingdom (UK). Trade between Pakistan and Germany was conducted in freely convertible currency in terms of the Trade Agreement signed in 1957.
Germany was Pakistan’s largest trading partner within the EU, accounting for 20 per cent of Pakistan’s total exports to the EU and 21 percent of Pakistan’s total imports from the EU, the Ambassador maintained.
He said Pakistan having population of more then 189 million could be the best trade market for Germans to invest in the country. Germany was keen to invest in energy, and technical education sectors of Pakistan, said German Ambassador.
He said that deteriorating law and order situation was affecting the economic uplift in the country. He said that 2014 would be the year to enhancement of bilateral trade between the two countries and his country was willing to assist Pakistan in every field. The Embassy would assist RCCI in organizing Single country Expo in Germany, he said.
President RCCI Dr Shimail Daud Arain said that Chamber was fully aware of the significance of enhancing trade relations among all the countries. He said that besides textile, leather and wood Germany should focus on the Pharmaceutical and gems and jewelry industry to promote the bilateral trade relations. He also demanded of the government to lift ban on livestock sector from Europe and specially Germany to open new venues of trade. He said that almost 15 years ago due to mad cow disease government of Pakistan impose a ban on livestock from Europe to avoid consequences but now everything is fine and government must consider it.