Karachi (TDI): Over 40 Swedish companies operating in Pakistan are encountering substantial hurdles, including high taxation, soaring energy costs, and restrictions on foreign currency transfers, Swedish Ambassador Alexandra Berg von Linde revealed during a meeting with the Karachi Chamber of Commerce and Industry.
These challenges, the ambassador noted, pose significant obstacles to attracting foreign investment and strengthening trade ties.
“Many of these companies, which are internationally recognized brands, have been contributing to Pakistan’s economic development for decades and are well-versed in the difficulties of the local business environment,” she stated.
While acknowledging Pakistan’s investment potential, Ambassador von Linde stressed the importance of addressing these issues to create a more investor-friendly climate.
She also emphasised Sweden’s interest in enhancing collaboration with Pakistan, particularly in sustainability, digitalisation, and green transitions.
“These sectors present mutual benefits for both countries. For Pakistan to remain competitive in the EU market, pursuing a green transition is vital,” she said.
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The Swedish ambassador highlighted the role of the Swedish Business Council in Pakistan, which has been instrumental in fostering trade relations.
“The council serves as a gateway for Swedish companies exploring opportunities in Pakistan and works to strengthen bilateral business ties,” she explained.
Touching on the Generalised Scheme of Preferences Plus (GSP Plus), the ambassador addressed concerns raised by Senior Vice President KCCI, Ziaul Arfeen.
“GSP Plus is a generous mechanism promoting economic growth and sustainable development. However, compliance with international conventions on human and labour rights, environmental standards, and governance remains integral.
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Pakistan continues to work closely with the European Union to meet these requirements,” she remarked.
This year marks the 75th anniversary of diplomatic ties between Pakistan and Sweden, a milestone that highlights the enduring partnership between the two countries.
Reflecting on this, Ambassador von Linde said, “Over the past 75 years, our relationship has evolved, rooted in mutual respect and a shared commitment to economic growth and sustainable development.”
