22-member trade delegation visits Switzerland

KARACHI: The Swiss Business Council (SBC) in collaboration with the Consulate General of Switzerland in Karachi and the Swiss-Asian Chamber of Commerce (SACC) in Zurich recently organised a twenty two-member trade and investment delegation to Switzerland on a three-day visit.

The delegation comprised chief executives of leading industries and organisations from Pakistan as well members from the Korangi Association of Trade and Industry, Karachi and the Chambers of Commerce and Industry of Faisalabad and Hyderabad.

In order to highlight the trade and investment opportunities that Pakistan offers to the Swiss business people, a conference was held at Kongresshaus, Zurich where some members of the Pakistani delegation gave their presentation on some of the potential sectors for foreign direct investment, like, financial sector (stock exchange), mining and minerals in particular precious metals and stones, tools and machinery, textiles etc with regards to the Pakistani exports to Switzerland, textiles and food/agro-based products were the main features besides some other avenues of cooperation.

SBC President and SGS Pakistan Managing Director Farrukh Mazhar evoked a brief introduction to SBC. He said, “SBC, Pakistan has established business-to-business relations between the two countries and provided strong linkages for exchange of business-related information. Introducing the managing committee, Mazhar informed that country heads of Al-Ameen Trading Corporation, Clariant Pakistan Ltd, Roche Pakistan Ltd, SGS Pakistan Ltd and Swiss International Air Lines Ltd had personally participated in this delegation.

Consul General of Switzerland in Karachi Didier Boschung delivering the keynote address on Pak-Swiss Trade at the event said, “Pakistan will be one of the world’s drivers of growth in years to come, notwithstanding some of the challenges of the present. There are significant opportunities for partnership between Swiss and Pakistani firms and encouraged Swiss business people to explore these. A large number of Swiss multinational companies are operating in Pakistan. They do not only market their world class products and services, but are also creating thousands of attractive jobs in the country.”

He pointed out that for the fiscal year 2009-10, Switzerland was ranked the fifth largest FDI into Pakistan by investing $170.6 million. He also said that companies like ABB, Clariant, Credit Agricole (Suisse) SA, Fracht, Gategourmet, Habib Bank AG Zurich, Habib Metropolitan Bank, Nestle, Novartis, Nexus Telecom, Parazelsus, Philip Morris International, Polygal AG, Roche, SGS, SICPA, Sika, Swiss International Air Lines Ltd and Syngenta are well-known Swiss companies presently operating in Pakistan and doing successful business. This proves that Pakistan has the potential to be an attractive location for FDI.

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