Pakistan to welcome German investment in renewable energy, automotive industry: Pervaiz Rashid

ISLAMABAD, Sep 29 (APP): Minister for Information, Broadcasting and National Heritage Senator Pervaiz Rashid said  on Thursday that Pakistan was an investor-friendly country and  would welcome increased German investments, especially in  renewable energy and automotive industry.

“There is a lot of scope and potential for the German
investors to invest in Pakistan. Both the countries need to
work towards expanding Foreign Direct Investment in
energy, infrastructure development, agriculture and
agro-based industry, mining, oil and gas exploration.”

The minister was addressing as chief guest at a ceremony
organized by German Embassy here in connection with National Unity  Day of Germany.

He said Pakistan valued its relations with Germany and had
enjoyed close and cordial relations with it adding, “We are
committed to further enhancing our relations with Germany both  at bilateral level and in the context of European Union.”

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He said Pakistan was keen to enhance bilateral contacts,
trade and cooperation in defence, counter-terrorism,
renewable energy, information technology and automotive industry.

“With the commencement of strategic dialogue between Pakistan  and Germany, relations between the two states have been moving  from strength to strength. Pakistani Diaspora in Germany has  played an equally important role in strengthening this  relationship,” he said.

Pervaiz Rashid said Germany had been one of Pakistan’s
largest trading partners, it always extended support to Pakistan  in both commercial and social sectors. “We are especially  thankful to Germany for its role in grant of GSP plus status  to Pakistan.”

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He noted that Germany was the fifth largest economy
in the world and technologically an advanced country.

“The  total trade volume between the two countries hovers around 2.5 billion dollars which does not commensurate with their economic  potential”, he remarked.

He said Pakistan was committed to fighting terrorism in all
its forms and manifestations. “Under the National Action
Plan and Operation Zarb-e-Azb, we have got remarkable
successes against terrorism. Our fight is against all terrorists
and will continue until their elimination,” he added.