LAHORE-Ambassador of Germany Alfred Grannas has said that there is a lot of potential for mutual trade between the two countries and we need to explore more sectors.

He was speaking at a meeting at the Lahore Chamber of Commerce & Industry. LCCI President Mian Nauman Kabir, Senior Vice President Mian Rehman Aziz Chan and Vice President Haris Ateeq also spoke on the occasion.

The German ambassador said that Pakistan needs to focus on diversification in its export basket in order to enhance its exports not only to the Germany but globally. He said that the quality is specialty of German products as the German companies do not compromise on the quality. Therefore, Germans also expect same standard of quality for imports. He said that Germany is keen to establish close contacts between the chambers of commerce. He said that German Emirati Chamber of Commerce is also being established. He said that there is a need to strengthen B2B contacts among the business communities of Pakistan and Germany. He said that both the countries are best partners and Pakistan can benefit from German expertise in various sectors.

LCCI President Mian Nauman Kabir said that Germany has the largest economy in European Union with GDP in excess of 4.2 trillion dollars and in terms of area, it is seventh-largest country in Europe. He said that despite the fact that Germany is one of the most densely populated European countries but its one-third area is still covered with forests and woodlands.

The LCCI president said that the globally famous brand names like Volkswagen, Allianz, Mercedes-Benz, BMW, SAP, Bosch and Siemens etc., give exceptional distinction to Germany. He said that the first book ever printed was in German, and the first magazine was launched in Germany in 1663. Consequently, Germany is one of the world’s leading book nations as more than 94,000 titles published every year.

Mian Nauman Kabir said that Germany was the first country in the world to adopt daylight saving time. Moreover, Germany is one of the largest solar power producers in the world. Germany has also made tremendous development in the education sector as it is the 5th most popular country for international students. There are around 400 universities in Germany that deliver over 17,000 study programs. He said that these few facts describe Germany being historically and culturally rich country that has got great standing among the technologically advanced countries in the world. He said that Pakistan and Germany have very cordial diplomatic relations and are steady trading partners. Germany is one of the few trillion economies in the world and we are glad to have trade and investment relations with Germany. The LCCI president said that Germany happens to be the biggest trading partner of Pakistan in European Union. Regarding top importing and exporting destinations of Pakistan in EU, Germany comes at first place. He said that these facts are encouraging for us that Pakistan is maintaining favourable balance of trade with Germany for the last few years and at present both imports and exports are following increasing trend.

He said that according to ITC Trade map, Pakistan’s exports to Germany increased from 1.4 billion dollar in 2020 to 1.6 billion dollar in 2021. Similarly the imports from Germany also went up from 857 million dollar to 1.02 billion dollar during that period. That resulted in taking the overall trade level from 2.25 billion dollar in 2020 to 2.58 billion dollar in 2021.

Mian Nauman Kabir said that Pakistan’s exports to Germany are heavily dominated by textiles. Other exports include articles of leather, footwear, rice etc. The imports from Germany consist of machinery, pharmaceutical products, chemicals, surgical instruments, articles of plastic, iron & steel etc. “We from the platform of LCCI will be glad to get engaged with diplomats from German Embassy for the purpose of further strengthening the mutual relations between two countries”, he added.

He said that Pakistan will certainly welcome German investors in Pakistan and Pakistani businessmen are also interested to be partner with them in transfer of technology and joint ventures especially in the sectors like automobile, renewable energy, tourism and pharmaceuticals etc.

The LCCI President mentioned that the efforts made by some German organizations like GIZ and GTZ particularly in the field of technical and vocational trainings in Pakistan.

LCCI Vice President Haris Attique said that Pakistan gives great weightage GSP plus Status and is striving hard to ensure compliance to the conventions. German Embassy can play a crucial role in strengthening the B2B contacts among the business community of both sides. He said that Pakistan is introducing a long-term policy on renewable energy so German investor should invest in this particular sector in Pakistan.