Pakistan, Germany to realize Full Potential of Bilateral Trade
By Nida Butt 'Pakistan Times' Special Correspondent

ISLAMABAD: Pakistan and Germany on Wednesday agreed on establishment of a joint Chamber of Commerce and to help realize the full potential of their bilateral trade.

Foreign Minister Khurshid Kasuri and his German counterpart Dr. Frank-Walter Steinmeier at a joint press conference noted that there was a vast potential to enhance the mutually beneficial bilateral trade and investment.

Foreign Minister Kasuri said Germany was Pakistan's second largest trading partner in Europe, and one of the largest in the world, with bilateral trade approaching two billion dollar mark.

He said a large number of German companies were doing successful business in Pakistan and there was a vast potential to enhance bilateral trade and investment.

"We have agreed on the establishment of a joint chamber of commerce between our two countries would be helpful in further strengthening our commercial cooperation," Kasuri said.

Kasuri said the two sides had "very productive and fruitful discussions" covering the whole gamut of bilateral relations to further strengthen relations in fields of trade, investment, education, defence, culture, health care, railways, power generation, engineering and oil and gas sector.

Dr. Frank Walter said the European Union has decided to increase assistance for Pakistan and the country would now receive two hundred million Euros during the next three years.

Kasuri said they explored the possibility of strengthening relations especially in trade, investment, education, defence, culture, health-care, railways, power generation, engineering and oil and gas sectors.

Kasuri said Germany was hosting G-8 Foreign Ministers meeting on 30th of this month and he would be attending the conference.

Steinmeier said both Pakistan and Afghanistan have agreed to hold talks when they meet at meeting of the foreign ministers of G8 next week.

"It is a key factor to see that relations between Pakistan and Afghanistan improve," Steinmeier said and added "both neighbours have to undertake efforts to further intensify contacts."

He said the two countries also have substantial technical cooperation and agreed to build on that cooperation.

Technical University

Kasuri said Pakistan also appreciated German cooperation for establishment of a technical university in Lahore and a vocational training institute in Karachi and mentioned that a number of post graduate students are studying in German universities. He said Pakistan would like to increase this number substantially in coming years.

Kasuri said Pakistan has conveyed its interest to see the opening of an office of German Academic Exchange Service in Pakistan to further promote relations in the field of education.

Foreign Minister Kasuri said the two countries have good cooperation in defence. More than 229 Pakistan armed forces officers have received training in Germany while 26 German officers have attended Staff College Quetta and the National Defence College.

Kasuri said there were also possibilities for cooperation between the two countries in defence procurement. Both countries want bilateral cooperation in defence to deepen to their mutual benefit.

Referring to the cultural cooperation he said strengthening of Anna Marie Schimel House in Lahore to the level of an institute would help that process. Pakistan also appreciates German cooperation in archeological excavation in the NWFP and Balochistan.

The German Foreign Minister said his country was keen to enhance economic and commercial relations with Pakistan.

He said Pakistan was very important partner of EU in Asia and has special significance in stability and peace in South and Central Asia .

The German Foreign Minister said he has invited both Pakistan and Afghan Foreign Ministers to attend G-8 meeting with a view to promoting peace in the region.

Earlier Pakistan and Germany signed an agreement for technical cooperation under which Germany would provide ten million Euros to Pakistan and would be utilized for reconstruction of houses in the NWFP and improvement of the health system in Azad Kashmir. Germany will also support basic education, TB control and health system in FATA.

The agreement was inked by Secretary Economic Affairs Division and the German Ambassador to Pakistan.●