MULTAN

Danish Ambassador Mr. Jesper Moller Sorensen has said that the potential of trade between Denmark and Pakistan is untapped and both countries should make efforts to increase volume of trade as increasing trade ties will help create growth and jobs to the benefit of the people of both countries.

He was addressing the member of Multan Chamber of Commerce and Industry (MCCI) while PCGA Chairman Mukhtar Ahmed Baloch was also present on the occasion.

The Ambassador said that he was in favour of ‘free trade’ and all out measures would be adopted for facilitating local and Danish companies to do business in both the countries. He added that his country was strong supporter of free trade and Denmark supported the proposal for granting GSP Plus Status to Pakistan.

He stated that Denmark became a rich and prosperous country by trading with its neighbours. He encouraged Pakistan to keep working for regional economic integration. He said that due to law and order and security situation in Pakistan, some foreign investors expressed reluctance to invest here. Despite this, the Embassy of Denmark in Islamabad is endeavouring to motivate the Danish entrepreneurs to increase their focus on Pakistan, particularly in areas such as energy, energy efficiency, agriculture, and dairy. He said that he would be in contact with Danish wind and solar companies which could make investments in Pakistan and thereby assist in overcoming the energy crisis.

He pointed out that potential of wind energy generation in Pakistan is nearly 55,000 MW particularly in Sindh corridor. He said that several leading Danish companies are already operating in Pakistan in pharmaceutical and dairy industries. There are vast prospects of expansion of bilateral trade including joint ventures in agro-based industries, dairy development, power sector and alternative energy resources,  Pakistan is known worldwide for all types of leather & leather products, organic as well as inorganic agro-based products & food items, sports goods & surgical instruments. Pakistan could supply all types of textile goods such as ready-made garments, Home Textiles and knitwear (hosiery) items to Denmark markets.

He said that Danish dairy is famous world-wide and Transfer of technology in this area will certainly benefit us. Pakistan is the 5th largest milk producing country in the world therefore investment in dairy products will unquestionably yield results, he added. He emphasized on enhancing direct contacts between private sectors of both the countries by way of Chamber to Chamber contact with singing of an MOU with the commercial sector of the Denmark Embassy. “Business profit should not only be measured in terms of cash profit but also in terms of the continuing commitment by businesses to behave ethically, contribute to economic development and to improve the quality of life for the local communities and society at large,” he added.

Ambassador Sorensen shared that it was in the long-term interest of the businesses themselves to promote social responsibility in businesses across the board. He added that although doing social work was a part of the culture in Pakistan, it however needed to be integrated as a business culture.

Earlier in Welcome Address to the Ambassador, President MCCI Khawaja Muhammad Usman said that Denmark is Pakistan’s important trading partner. In fiscal year 2012 bilateral trade stood at $344.45 million in favour of Denmark.  Pakistan exported $90.15 million worth of goods to Denmark, while imports stood at $254.30 million. He said that the trade analysis shows that exports of Pakistan have a very low annual growth rate of 4% while imports from Denmark have grown at the rate of 40% between 2008-2012 despite a wider scope and available potential of both the economies. He said that Danish dairy is famous world-wide and Transfer of technology in this area will certainly benefit us. “Pakistan is the 5th largest milk producing country in the world therefore investment in dairy products will unquestionably yield results,” he added. He emphasized on enhancing direct contacts between private sectors of both the countries by way of Chamber to Chamber contact with singing of an MOU with the commercial sector of the Denmark Embassy.