Pakistan, Germany Bilateral Investment & Trade agreement sent to European Parliament for approval

Karachi: Bilateral Investment and Trade agreement signed by Pakistan and Germany has been sent to European Parliament for approval, says Dr Tilo Klinner German Consul General in Karachi.

Talking to newsmen here Wednesday, he spoke of cooperation between two countries to get Pakistan active in European Union EU market in exports, trade and economic sectors through recent WTO waiver as well as more German investment in Pakistan. German medium size enterprises want to invest in Pakistan. “I will brief German investors on prospects in this regard at meeting next month in Hamburg.”

Dr Tilo said in wind energy eight Independent Producer Power projects are in pipeline for German companies in Pakistan. These projects will be financed by Pakistani companies. German companies were also interested in Thar coal power projects in Sindh province, he added.

There are also opportunities in mass and waste management, infrastructure, water for drinking in Karachi which will become 10th largest city in the world by year 2030. He said a vocational training institute as pilot project has been identified in Karachi and start functioning by end of this year with students trained by German companies. In traditional education cooperation Pakistani scholars go to Germany.

Consul General said German chemical companies were working with Pakistan textile industry. Metro opened its retail superstore and by end of this year have four in Pakistan, he stated.

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