As a step forward to enhancing bilateral economic ties between Pakistan and Germany, the Prime Minister (PM) Nawaz Sharif has recommended the establishment of a bilateral chamber of commerce.
Talking to the German federal minister for economic cooperation and development, the PM stated that Pakistan’s economy is on the path to recovery as the security situation in the country has shown a marked improvement.“Our emerging democratic character is evident from the handling of all political issues by my government in accordance with the democratic principles and law,” stated the PM.
The German minister vowed to lend support to Pakistan in various fields.The German delegation included German Ambassador Ina Lepel, BMZ Director General Dr Bernhard Felmberg and Head of Cooperation Dr Zoll Juergen.
In a separate meeting, the Finance Miniter Ishaq Dar met Dr Muller to exchange views on matters of mutual interest. Dar expressed his gratitude for the German government for supporting various development projects in the country, specifically appreciating a German development bank, KfW’s equity participation in Pakistan Microfinance Investment Company (PMIC).
Furthermore, Dar highlighted that having achieved macroeconomic stability in the country, the Pakistani government is now focusing on sustainable and inclusive economic growth in the country.
He stated further that Pakistan is inclined to promote financial and digital inclusion in the country. Dar invited German companies to benefit from the country’s liberal investment policies and the opportunities presented by the Special Economic Zones (SEZs) and invest in the country, particularly in the automotive and photovoltaic (PV) cell sectors.
The German minister while acknowledging Pakistan’s efforts in countering terrorism and extremism said that Pakistan had witnessed marked economic improved over the last three and a half years. He assured that Germany will continue to support Pakistan in its economic and development initiatives. The German minister also invited Dar to meet European business leaders to encourage investment in Pakistan.
Following the meeting, Pakistan and Germany signed a Joint Declaration of Intent (JDI) to strengthen development cooperation between the two countries focussing on areas of governance, energy and sustainable economic development.
