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Switzerland lauds Pakistan’s corporate growth

Business

May 23, 2015

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KARACHI: Switzerland appreciates the corporate growth rate in Pakistan, which is seen as the fastest when compared to some European companies, its envoy said on Friday.
“The growth rates of firms in Pakistan are very good,” said Emil Wyss, consul general Switzerland, Karachi.
“We want to capitalise on this fast expansion…you ask a company and it will divulge 10 percent growth a year,” Wyss said. “This is something that some European companies could not achieve.”
“This is one of the reasons why Switzerland has planned weeks-long exhibition in Karachi,” he told The News in a chat on the sidelines of the fair’s curtain raiser.
Switzerland, which has its 25 brands, including Nestle, Swiss International Airlines and SGS existed in the country, is organising a 100-day exhibition at Jinnah International Airport Karachi. The event will start on May 29 and run till mid-August.
The consul general said Switzerland is the fourth largest foreign direct investor in Pakistan. It invested $86 million in the first 10 months of the current 2014/15 fiscal year.
Pakistan shipped $81 million of products to Switzerland as compared to its imports of $544 million in July-April FY15.
The bilateral trade volume forms a tiny portion of the massive trade statistics of Switzerland, having eight million populations.
In 2014, Switzerland imported $203.2 billion worth of products, including ores, sugar and leather. The country exported $239.3 billion worth of goods that included footwear, fish and pharma around the globe in the year.
“We want to strengthen our economic relationship with Pakistan,” the diplomat said. “Swiss companies want to make joint ventures with Pakistani counterparts in various sectors.”
The exhibition, he said is a stepping stone in this direction. “We want to rebuild image of Pakistan and show the world that the country is on the right track.” The fair will have stalls and enclosures where travelers can

come for business matchmaking.
“Business forums (at the airport) will have facilitators round the clock to provide information to prospective exporters and importers,” Wyss told reporters.
“They can record their queries for buying from and to Switzerland.”
He said it is the first of its kind fair, “which will encourage other countries to follow suit.” About a reason of selecting the venue, he said around 4.5 million passengers, from all walks of life, use the Karachi airport a year.

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