Pakistan's Bilateral Trade surplus with Germany crosses $1 billion mark - Press Release issued by Federation of Pakistan Chambers of Commerce and Industry.

Karachi -- November 22, 2022 (PPI-OT)

Following is the text of press release issued by Federation of Pakistan Chambers of Commerce and Industry (FPCCI)

Quote

Mr. Irfan Iqbal Sheikh, President FPCCI, has expressed his satisfaction that Pakistan's bilateral trade surplus with Germany has crossed psychological mark of $1 billion and there are clear indications that Pakistani exports are on a growth trajectory with the world's fourth largest economy and the largest in Europe with a GDP of $4.5 trillion. He added that the sheer size of Germany's economy makes it one of the most important destinations for Pakistan to prioritize for trade and industrial cooperation.

However, President FPCCI noted, exports of $2.5 billion are still way too below the real potential as there is huge demand of Pakistani textiles in Germany. It is pertinent to note that, in this regard, he has held a detailed, high-profile and fruitful meeting with German Ambassador in Pakistan, H. E. Mr. Alfred Grannas. We discussed new avenues and expansion of the current export segments to scale-up the trade and economic relations.

FPCCI President highlighted the fact that Germany is one of the very few countries in the world with which Pakistan enjoys a trade surplus. He expressed his desire to hold single-country exhibition with Germany and requested the honourable ambassador to grant visas to Pakistani businessmen on softer terms.

Mr. Irfan Iqbal Sheikh said that FPCCI is hopeful that Pakistan will get GSP+ status renewed for 10 years and this time it will be GSP++ or GSP+ 2.0 as hinted at an earlier occasion few months back by H. E. Ms. Androulla Kaminara, EU's former Ambassador for Pakistan.

Mr. Irfan Iqbal Sheikh highlighted that the...

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