ISLAMABAD, Feb 17: Exports from Pakistan to Switzerland increased by 50 per cent last year, and are expected to swell further in future, said visiting under-secretary, Swiss Federal Department of Economy, Ms Monika Ruhl Burzi.

Talking to Federal Minister for Privatisation and Investment Zahid Hamid here on Saturday, Ms Monika further said that the Swiss companies operating in Pakistan were very comfortable and intended to continue to increase their investment volume.

Ms Monika is leading a Swiss economic delegation to identify areas for further cooperation and to remove obstacles in the free flow of trade.

An official announcement issued after the meeting said that the Swiss secretary observed that Pakistan’s economy was functioning well in a very competitive environment.

The Swiss economic delegation’s visit is the first of its kind in 12 years, which is taking place in the backdrop of prime minister’s recent meeting with his Swiss counterpart at Davos where he invited Swiss business groups.

Mr Monika informed the minister that their visit would also focus new investment opportunities, promote trade and strengthen economic bonds between the two countries.

Matters pertaining to double taxation, tariff concessions, Intellectual Property Rights (IPRs) and education of workforce to attain high skills will also come under discussion.

The minister informed the delegation that deregulation, liberalisation and privatisation have yielded encouraging results in Pakistan.

He said that World Bank has declared Pakistan top reformer in the South Asian region and the 10th in the world.

Mr Hamid said in the fiscal year 2000 the public debt was 96 per cent, which declined to 54 per cent in 2006, export growth touched $16.5 billion in 2006 from $8.5 billion in fiscal year 2000.