KARACHI, Oct 23: Consul General of Switzerland, Julius F. Anderegg on Thursday emphasized more concrete efforts to increase trade between his country and Pakistan and observed that trade picture was not in favour of Pakistan.

During 2002-03, Pakistan imports from Switzerland were $189.4 million while exports stood at $20.69 million, showing trade imbalance of $168.71 million.

While speaking at luncheon meeting with members of Korangi Association for Trade and Industry (KATI) here, the Swiss diplomat noted that Swiss exports to Pakistan had increased by 25 per cent over the last nine months of his posting here while consignments from here were not up to Pakistan’s satisfaction.

Trade should be two-way, he asserted adding that he would consult Pakistani Embassy in Switzerland on how to improve bilateral trade. “We have to do some thing together in exploring potential for bilateral trade,” he added.

He expressed satisfaction over trade and investment policies of the government and assured to project these among Swiss businessmen for mobilizing them to benefit from the promising investment and trade opportunities available here.

Mr Anderegg said in his country, investment mainly is private sector affair and said he could only give recommendations to Swiss industry associations about very potential investment climate in Pakistan, however, the decisions would be purely their’s.

There are big Swiss corporations in Pakistan working in various sectors like pharmaceutical and even in food sector. Similarly, Swiss Airlines, he further said, was continuing with four flights a week from Karachi and claimed that this is the only Western airline doing so.

He said that his country’s economy was based mainly on services sector, that is, banking, insurance and tourism.

He saw great potential for developing tourism in Pakistan and noted that Pakistan and Switzerland could enter joint ventures in tourism as Pakistan has best mountain sites.

He said that Swiss firms were interested in power generation here.

He underlined the need for intellectual property rights and described it very conducive for investment.

He, while clearing some misconception about Swiss Banking, said the banking system there had certain degree of secrecy so long as no one engages in criminal activity.

However, he stressed, over last 10 years his country had made significant progress in this regard and now there was very strict anti-money laundering system.

“We are keen to see our financial sector as clean as possible. But it is not so easy job,” he remarked.—APP