A.Rafay
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KARACHI: German Ambassador Dr Cyrill Nunn has said that Pakistan will soon join Next-11 emerging economies because of its strength and importance due to its geostrategic location as a gateway to various regional blocs.
At a meeting with members of the Karachi Chamber of Commerce and Industry (KCCI) on Friday, the German top diplomat said that Pakistan was the fastest emerging economy in the region and Germans were well aware about its strength and importance.
He hoped that with progressive rise in the gross domestic product, Pakistan would join the Next-11 countries soon. Pakistan is presently ranking in the Next-20 countries.
He said that many leading German companies were successfully operating in Pakistan and further expanding. No German company operating in Pakistan complains about the working environment, he added.
He said that fresh investment is subject to economic reforms, mainly provision of better security conditions, energy and rule of law (protection of rights). Business in Pakistan is easy as compared to other regional countries and the nation has qualified people and immense resources, he added.
He stated that Germany, in the last fiscal year, was the second largest exporter after China. He said he understood that Pakistan was continuing a war against terrorism as being a frontline state for Afghanistan, which was actually the war of other countries as well and hence Pakistans role should be supported economically because the nation had faced colossal human and monetary losses.
He was of the view that perception of Pakistan was distorted globally and for improving its positive image KCCI and all stakeholders would have to play their meaningful role.
A high profile German delegation is expected in the last quarter of this year, he said and added that Indo-Pak trade liberalisation would activate the South Asian Association for Regional Cooperation bloc for free trade.
Hydro and wind energy sectors are the focus of German companies. They prefer working with the private sector. To invite German companies in Thar coal, infrastructure and provision of basic amenities are crucial, he said.
President KCCI Muhammad Haroon Agar said Germany ranks as the ninth largest trading partner even ahead of UK.
http://www.thenews.com.pk/Todays-News-3-173661-Pakistan-to-join-Next-11-emerging-economies
At a meeting with members of the Karachi Chamber of Commerce and Industry (KCCI) on Friday, the German top diplomat said that Pakistan was the fastest emerging economy in the region and Germans were well aware about its strength and importance.
He hoped that with progressive rise in the gross domestic product, Pakistan would join the Next-11 countries soon. Pakistan is presently ranking in the Next-20 countries.
He said that many leading German companies were successfully operating in Pakistan and further expanding. No German company operating in Pakistan complains about the working environment, he added.
He said that fresh investment is subject to economic reforms, mainly provision of better security conditions, energy and rule of law (protection of rights). Business in Pakistan is easy as compared to other regional countries and the nation has qualified people and immense resources, he added.
He stated that Germany, in the last fiscal year, was the second largest exporter after China. He said he understood that Pakistan was continuing a war against terrorism as being a frontline state for Afghanistan, which was actually the war of other countries as well and hence Pakistans role should be supported economically because the nation had faced colossal human and monetary losses.
He was of the view that perception of Pakistan was distorted globally and for improving its positive image KCCI and all stakeholders would have to play their meaningful role.
A high profile German delegation is expected in the last quarter of this year, he said and added that Indo-Pak trade liberalisation would activate the South Asian Association for Regional Cooperation bloc for free trade.
Hydro and wind energy sectors are the focus of German companies. They prefer working with the private sector. To invite German companies in Thar coal, infrastructure and provision of basic amenities are crucial, he said.
President KCCI Muhammad Haroon Agar said Germany ranks as the ninth largest trading partner even ahead of UK.
http://www.thenews.com.pk/Todays-News-3-173661-Pakistan-to-join-Next-11-emerging-economies
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