‘Pak, German trade increases to $2 billion’

ISLAMABAD—Bilateral trade between Pakistan and Germany has increased up to $ 2 billion per annum, which is likely to grow further, President Islamabad Chamber of Commerce and Industry, Nasir Khan said here on Friday.
“Pakistan economic indicators are healthy and we will encourage more trade and investment with Germany,” he said while talking at a meeting with German Counsellor of Media and Public Diplomacy Patric Hiens and Third Secretary of Commercial and Development Section, Andreas Dautch at ICCI office. He said, at present Germany exports to Pakistan are valued at $1.2 billion and Pakistani exports to Germany at 800 million annually.
Speaking on the occasion, German Counsellor Patric Hiens said that presently Germany has focus on multilateralism but the government could also make bilateral arrangements. He assured the President that Germany would continue to support Pakistan to further improve bilateral cooperation and also offered technical assistant for the growth of production.
He said that Germany wanted to establish bilateral trade in the field of agriculture, telecommunication, textile, banking and electronics as well as in other sectors. He described prospects of trade between Germany and Pakistan as very bright, adding that the business communities of both the countries could identify different fields for mutual benefits.
He informed the ICCI president that a German trade delegation would visit Pakistan in the first week of November. He asked the President ICCI to arrange the meeting with business community for the enhancement of bilateral trade, adding that a leading German Company, Metro was also interested to investment in Pakistan.
President ICCI Nasir Khan said that Pakistan’s major export to Germany are leather goods, textiles, medical instruments and Basmati rice adding that the imports from Germany are chemical products, machinery, electrical goods, vehicles and hardware.—PR