Federation of Pakistan Chambers of Commerce & Industry (FPCCI) President Mian Nasser Hyatt Maggo has said that Germany is the biggest trading partner of Pakistan in the EU with a trade balance in favour of Pakistan which reflects a good economic relationship between both countries.
President FPCCI met the Ambassador of the Federal Republic of Germany Excellency Bernhard Schlagheck visited the FPCCI Capital Office in Islamabad. The meeting was attended by a large number of businesspeople from different sectors prominently Anjum Nisar, Immediate Past President FPCCI, Shahzeb Akram, Sr. Vice President and Vice Presidents of FPCCI, Zahid Shah, Hanif Lakhani, Athar Chawla, Head of Capital Office Qurban Ali and coordinator Mirza Abdul Rehman. Qaiser Khan Daudzai, Ex-Vice President of FPCCI.
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Nasser Hyyat Maggo gave a briefing overview of the activities of FPCCI and its importance not only in Pakistan’s economy but also in the international economy. While talking about the bilateral trade of Pakistan with Germany, he said that the current volume of bilateral trade is nearly US $ 3 billion.
“Pakistan’s exports to Germany has increased to the US $ 2 billion, while imports of Pakistan from Germany are the US $ 1.2 billion. However, the trade statistics are still far beyond the existing potential between both the countries,” he added.
The President FPCCI further said that in the scenario of CPEC, Pakistan has become an emerging market and favourable investment destination in the world. Many German companies are already operating in Pakistan but still, there is room for further investment in various sectors that should be jointly explored, he maintained.
Anjum Nisar, former President FPCCI said that Pakistan’s German development cooperation as well as bilateral trade and investment ties, which are decades old and quite strong, is high time to explore new avenues to enhance economic partnership through joint ventures in Special Economic Zones in Pakistan.
