KARACHI, Dec 5: Consul General of Germany Verena Grafin Von Roedern on Monday termed the Pakistani economy safe for investment offering attractive returns because of higher population growth rate. She was speaking to members of the Karachi Chamber of Commerce and Industry and the visiting 17-member delegation of the German Near and Middle East Business Association. The delegation led by Andreas Hielscher is in Karachi to hold a seminar on “business information” for the KCCI members and explore two-way business opportunities.

The consul general said the high population growth rate enabled investors to be cost effective due to economy of size and get higher returns with minimum capital inputs.

She said every country in the world had its own weak points, therefore Pakistan instead of bothering about negative points should focus on its strong points that could attract foreign investment.

Counting the plus points, Verena Grafin said the price range of Pakistani products was comparable with other countries in the region and similarly, she added that Pakistan was offering similar incentives and concessions which other countries were offering to attract the foreign investment.

The consul general without giving any cut-out date said that the European Union was about to give the GSP Plus status to Pakistan under which local exporters would have more concessions. This would offer new opportunities for foreign investors in Pakistan, she added.

Talking about bilateral trade and direct foreign investment, she pointed out that German stakes were comparatively small but hoped that the present efforts would help spice this segment, resulting in more investment and economic activities between the two countries.

Andreas Hielscher, leader of the delegation and managing director of Hermos International GmbH, while appreciating the Pakistani business environment said that it was easy to do business in Pakistan as compared to Dubai. He also elaborated the comparison between the two places and said that his interaction with the KCCI would help understand the local business environment.

Christian Glosauer from the German Federal Office for Foreign Trade said that Pakistan was the third largest country in regard to use of compressed natural gas (CNG) for vehicles. He said his country had huge research and working experience in alternative energy, especially in CNG, solar and wind energy.

He said that these fields were quite attractive for countries like Pakistan and joint ventures or other modes of transactions that could help transfer of technology and bring about a revolution in the cost of production. He added that the present seminar would be a big breakthrough in this regard.

Dr Ashfaq H. Khan, director general, debt office, and economic adviser to the ministry of finance, made a presentation to the German team on the economic future of Pakistan, highlighting challenges and opportunities.—APP