Germany Ready to Invest in Paksitan’s SME: Germany is ready to improve its trade and investment ties with Pakistan, mainly in the field of small and medium-sized enterprises (SMEs). SMEs are called the backbone of the German economy, as they are responsible for an important part of the country’s exports. In fact, 99.6% of all companies in Germany are SMEs who employ nearly 60% of the entire workforce of European economic power.
Germany Ready to Invest in Paksitan’s SME:-
During the visit to the Pakistani Stock Exchange on Wednesday, German Consul General Eugen Wollfarth said:
We are seeing growing interest from SMEs and this is a major domain where trade and bilateral relationships can be extended.
Some of these SMEs are world leaders in their respective industries, such as Bayer, BASF, Daimler, Volkswagen and Siemens, which make a major contribution to the country’s manufacturing base.
In October 2018, a German business delegation made a five-day visit to Pakistan. Wollfarth noted that considerable efforts were being made to attract entrepreneurs from large companies, but most of them were already present in Pakistan.
Wollfarth pointed out that such a move would lead more German businessmen to visit Pakistan.
The report also indicated that a proposal was made to change the Chamber of Commerce and Industry of Germany and Pakistan to keep up with German standards.
He expects the stabilization program to be fruitful in Pakistan. “The good news is that Pakistan will continue to stabilize the country,” the consul general said, referring to the announcement of the second mini-budget later in the day.
He insisted that the stock market was an important and integral part of an economy, as it promoted investment.
“If the two nations can do something … along with the stock exchange or other financial institutions, the German side is prepared to invest,” he said. “Let’s look forward and let us hope for a good day, a good month and a year ahead.”
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