High ranking German business delegation led by Mr. Stephen Steinlien, State Secretary of the German Federal Foreign Office called on Engr. Khurram Dastgir Khan, Federal Minister for Commerce today in his office.
The honorable minister welcomed the delegation and said that Pakistan in leadership of Prime Minister Nawaz Sharif is successfully emerging out of violent extremism, economic instability, energy crisis, its public finances have been stabilized and will have better regional connectivity as a result of CPEC and thus it is right time to invest in Pakistan.
German Companies acknowledged the fact that there has been tremendous improvement and Pakistan is more peaceful, more stable economically and showed great interest in investment in various sectors in Pakistan but German companies already working in Pakistan raised their concerns with tariff rates in comparison with Chinese companies.
Minister addressed their concerns by informing the delegation that there is an FTA with china and if EU is interested in FTA, Pakistan is willing to make seamless transition from GSP Plus to FTA with EU which would then bring tariffs on EU products at par with China.
Pakistan expressed willingness to enter FTA with EU formally at EU-Pakistan joint Commission on trade. Commerce Minister sought German support for initiation of FTA dialogue with EU.
Both sides agreed to hold further meetings to improve cooperation in commerce and trade sectors.
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