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Business

February 10, 2016

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Pakistan an interesting market: German ambassador

Pakistan an interesting market: German ambassador

LAHORE: With a young and growing population of nearly 200 million people, Pakistan is an interesting market, which cannot be ignored in the long-run by multinational companies, said German Ambassador to Pakistan.

Ina Lapel Inaugurating first office of leading German Technology Company Bosch she said latest venture of German giant is an important milestone in our bilateral economic relations with Pakistan.

Steven Young, President, Bosch Turkey and Middle East said his company is keen to be part of Pakistan’s rising growth story, adding, the strongly developing middle class, rising consumer demand and the growth of manufacturing and automotive sectors are very positive indicators.

“The industrial sector will definitely benefit from Bosch innovations as we deploy our core competencies in the Automotive Aftermarket, Power Tools and Security Systems sectors” he said.

Young, termed China Pakistan Economic Corridor (CPEC) a golden opportunity for the country and said it offered immense dividends to the country, both during its construction phase as well as operational phase.

He said his company was also hoping to benefit from the boom in construction and logistics business, courtesy this mega project.

Volker Bischoff, Vice President/General Manager of Robert Bosch Middle said studies indicate that Pakistan’s automotive market is currently still in development. Pakistan’s current economic revival has garnered the interest of more mature players such as Bosch to enter the market.

In the Automotive Aftermarket, Bosch products including spark plugs, wipers, batteries and zexel in the diesel segment, are already in significant demand.

 “Our focus is on equality and we are hopeful that Bosch as a brand would be adopted by a large number of quality-conscious consumers in Pakistan.

This brand is already quite known in the country and the brand awareness campaign launched by the country will add to its popularity, he added.

Bosch is a leading global supplier of technology and services is expanding the Bosch Group’s operations in the region, the office based in Lahore in the Punjab province will at the start serve as the liaison office for the company’s Automotive Aftermarket, Power Tools and Security Systems business divisions.

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