Lahore, 16 February 2023 (TDI): A joint business gathering was held between Pakistan and Germany at Siemens Healthineers, a healthcare company in Lahore.

The gathering was arranged by the Pakistan Desk of the German Emirati Joint Council for Industry & Commerce (AHK) in cooperation with the Diplomatic Missions of the Federal Republic of Germany in Pakistan.

The event was patronized by Khurram Jameel, Managing Director (MD) & Chief Executive Officer (CEO) of Siemens Healthineers Pakistan & Afghanistan.

Rudiger Lotz, Consul General of Germany in Karachi, and Christian Bottcher, the First Secretary of Economic and Political Affairs in Islamabad participated in the gathering.

Participants at the joint Pakistan-German business gathering
Participants at the joint Pakistan-German business gathering

The purpose of the gathering was to discuss the current economic conditions and initiatives to enhance bilateral trade between Pakistan & Germany.

Remarks by representatives

Speaking at the event, Khurram Jameel, highlighted the importance of business exchanges to promote bilateral ties between the two countries.

He said, “Pakistan and Germany hold a strong bond. Siemens Healthineers has always played a key role in providing breakthroughs in healthcare.”

Christian Böttcher, First Secretary Economic and Political Section Germany Embassy in Islamabad also briefed the audience. He talked about the current economic crisis of Pakistan and the country’s dealing with the International Monetary Fund (IMF) Program.

Also read: Pakistan participates in Startup Germany Tour

In this vein, Böttcher said, “The situation is worrisome for the German government too. But we believe that the German companies are strong and will come out of the crisis along with Pakistan.”

While talking about the IMF, the Secretary reiterated, “The Pakistan government has to apply and implement all the reforms and measures it agreed on earlier with the IMF.”

“In this economic crisis, it is important that all the political parties join hands to protect the country from default. All the political parties should sit together and implement the reforms needed with full force.” Böttcher continued.

Böttcher stressed the need for diversification of Pakistan’s exports to avoid any external shocks on exports. Currently, Pakistan exports 70 percent of textile goods to Germany.

Along these lines, he concluded, “Pakistan is strong in the textile but it is focusing too much on it. This needs to be changed. Diversification will lead to the most healthy and sustainable trade relations with Pakistan.”