Pakistan business team to visit Switzerland in 2011

[Lahore_Real_Estate]

KARACHI: Pakistan business delegation will visit Switzerland in first half of 2011 to further promote economic relations between the two countries.

An increased exchange of delegations could help Swiss entrepreneurs to get better picture of business environment in Pakistan and appreciate potential this huge market has to offer, Switzerland Ambassador to Pakistan, Christoph Bubb said Thursday.

Pakistan delegation’s visit is being arranged by Swiss Agency for Development and Cooperation (SDC) in Karachi with its counterpart Swiss Asian Chamber of Commerce in Zurich.

Bubb said Karachi is one of the world’s largest metropolitan cities and an important contributor to national and global economy.

It holds a particular significance for Switzerland as out of 18 Swiss multinational companies operating in Pakistan 15 were established in Karachi and successfully operating in pharmaceuticals, chemicals, banking and other service industries.

He said Swiss companies are generally satisfied with course of business and based on market potential maintain an optimistic outlook despite concerns to ongoing energy shortages and law-and-order situation.

He said bilateral trade between two nations has shown consistent growth over several years and is now further picking up in aftermath of global recession. The balance of trade has been in favour of Switzerland but Pakistan has considerably increased exports to Switzerland in past few years, he added.

SDC is successfully operating in Pakistan since 1966 and its program focuses on improving governance and increasing Income. Additionally, Swiss government initiated two years project Responsible Foreign Direct Investment in Pakistan to promote 10 globally accepted principles of UN Global Compact on key issues such as human rights, labour, environment, anti-corruption by engaging subsidiaries of Swiss multinational companies in Pakistan and their supply chain, he added.

He urged Pakistani and multinational companies to join this meaningful campaign which may herald a new era of integrated socio economic development in Pakistan which is facing difficult challenges and therefore extra efforts are needed.

Bubb said within first few days of catastrophic, SDC humanitarian aid took immediate measures to provide emergency relief to flood victims in northern districts of D I Khan and Karak.