960401

Pak-German Trade

and Investment

Committee set up

RECORDER REPORT

LAHORE: A senior member of the Lahore Chamber of Commerce and Industry (LCCI), Rehmatullah Javed, has been nominated Chairman of the Pak-German Trade and Investment Committee, set up by the LCCI to promote business relations between the two countries and to enhance Pakistan's participation at the industrial and trade fairs in Germany.

A decision to this effect was taken at a meeting between the German Trade and Economic Affairs Counsellor Dr. Anne Marie Schleich and the LCCI SVP Sh. Wahiduddin. Members of LCCI Executive Committee Sikander Mehmood Khan, Shahid Iqbal Butt, Mohammad Yousuf Dar, Mazhar Hussain Mirza and Rehmatullah Javed were also present on the occasion.

Dr. Schleich said that Germany was currently involved about 40 projects in Pakistan, including those in vocational and technical training, hydel development, livestock and dairies, clean water and other fields of public health engineering.

The German Counsellor revealed that Pakistan being the fifth largest recipient of the Aid-in-Grant and assistance in the social sector, had received Rs 700 million worth of financial support since 1994 while the current commitment in financial co-operation was to the tune of Rs 1.5 billion.

Dr. Schleich said that Germany was keen to further expand the business relations with Pakistan. She pointed out vast possibilities of joint ventures between the two countries in various fields of industrial and commercial sectors. She expressed hope that the said committee would help identify the potential areas existing in various fields.

She proposed that the committee should also have closer collaboration with German business promotion organisations like GTZ and SES to generate new avenues for Pak-German trade and investment co-operation.

Sheikh Wahiduddin welcomed the German economic Counsellor and apprised her of the investment opportunities available in Pakistan. He briefed the German envoy about the package of incentives offered by the government to attract foreign investment. He emphasised the German investors community to establish joint ventures in the industrial sector to explore the incentives and attractions offered by Pakistan government.

Rehmatullah Javed was nominated as Chairman of Pak-German Trade and Investment Committee.