‘German firms keen to join CPEC projects’

KARACHI: German companies are keen to join China-Pakistan Economic Corridor (CPEC) to further improve trade relations, said Ina Lepel, German Ambassador to Pakistan, on Thursday.

Talking to Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Abdul Rauf Alam, Lepel, flanked by Commercial Councillor of German Embassy Sabastian Ernest, said Pakistan is moving in the right direction and German firms wanted to invest in energy generation and renewable energy and energy saving initiatives so that Pakistan can overcome the energy crisis.

Germany is the second largest partner in trade with Pakistan in Europe and
will do whatever possible to improve these ties, she added. The ambassador said there is a lot of potential for enhanced cooperation. Some German companies are facing issues, which would be resolved soon and the trade will improve, as the law and order situation has improved in Pakistan.

It is difficult to bring German investors to Pakistan but there perception is changed once they visit this country, she said, adding that business-to-business meetings and exchange of delegations is the best way to boost economic cooperation.

Alam drew attention of the ambassador towards benefits of direct flights between the two countries and expressed concern over scaling down of operations in Pakistan
by a leading engineering company.

French and Japanese automobile multinational are planning to step into Pakistani market; therefore, German automakers should also consider investment here, he said. He also asked her for investment by a specific firm known for making quality plants to rice and flour mills and having facilities in China and India.

Leaders of the business community, including the Federation of Pakistan Chambers of Commerce and Industry Vice President Zafar Bakhtwari, Khalid Jaweed, Tariq Sadiq, Ijaz Abbasi, Arif Jeeva, Mian Shaukat Masood, Samina Fazil, Khalid Chaudhry, Malik Sohail and others were also present on the occasion. The business leaders urged for joint ventures in steel sector and want to have German live animals and dairy products in Pakistan.