Norway is one of largest European investors in Pakistan


Karachi: At US$2 billion of investment in Pakistan, Norway is one of the largest European investors in Pakistan’s economy, said Robert Kvile, Ambassador of Norway during visit Tuesday to Federation of Pakistan Chambers of Commerce & Industry in Karachi.

He had talks with Dawood Usman Jhakura, Usman Sheikh & Khalid Tawab, Vice Presidents FPCCI, and Shaikh Humayun Sayeed, former Vice President FPCCI & Chairman FPCCI Standing Committee on trade delegations. Jhakura said most of Pakistan’s trade with European states was being carried out with European Union EU, and therefore trade with Norway remained unsatisfactorily low.

Kvile urged business community to step up efforts for positive image building of Pakistan. He said foreign investors were currently deterred by security situation and complicated regulatory requirements in Pakistan. These concerns should be addressed urgently to draw greater foreign investment to Pakistan. He said presence of 35,000 Pakistanis as Norway’s largest non-European immigrant community was a resource for both countries and should be utilized effectively.

Sayeed assured Kvile his concerns on security situation and problems in legal framework encountered by foreign investors will be transmitted by FPCCI to relevant authorities. He called for more frequent exchange of trade delegations between two countries to enhance trade and hoped Norwegian firms would participate in upcoming exhibitions being held in European Economic Area (EEA) countries in near future. It was agreed that in collaboration with Oslo Chamber and Norwegian businesses, Pakistan would soon hold a major trade event in Norway.

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