Acting German Ambassador visits the OICCI

Dr Tilo Klinner, Chargé d’affaires a.i, Embassy of the Federal Republic of Germany, Islamabad and Mr Rainer Schmiedchen, Consul General, Consulate General of the Federal Republic of Germany, Karachi visited the OICCI on July 24, 2017, to learn about the views of OICCI members on the current business environment in the country, including on matters related to EODB, PKR exchange rates.

The visitors were welcomed by OICCI Secretary General M. Abdul Aleem and Managing Committee Member Dr Asim Jamal.

Abdul Aleem informed that OICCI is a researched based organization and shared an overview of the result of the OICCI sponsored Business Confidence Index (BCI) survey, wave 14, released to the media in May, 2017, and mentioned some key reasons for decline in BC score in the last two surveys, a slide showing the comparison of Pakistan as an investment destination vis a vis some regional countries from the OICCI members Perception and Investment Survey 2015, OICCI Members Security related survey done in June 2017 – which shows a further increase of members positive perception of the country’s security environment, snapshot of OICCI Publicly listed members success story reflected in the very good CAGR during the period 2009-16, CSR initiatives of members which annually benefit over 20 million people, an overview of the OICCI perspective of the country’s economy, including the upbeat mood due to CPEC related opportunities and opportunities for foreign investors in Pakistan. He also pointed out a few challenges and reasons for the low FDI inflow in recent years. M. Abdul Aleem also mentioned that the environment for business in Pakistan is a lot better than the general perception, and this is observed by all those foreigners who come to the country. He opined that the PKR parity against major currencies should be based on economics and if needed gradual adjustments should be done

On the issue of over regulation in the country, Dr Asim Jamal mentioned that despite the fact that the Pharma industry in Pakistan faces considerable challenges, especially due to the drugs pricing policy, pharmaceutical companies have maintained a good growth rate over the years by volume increases, though margins are shrinking.

Dr Tilo Klinner mentioned that he shall carry the views given by the OICCI and other important Business Chambers in Pakistan and inform potential German investors about these ground realities as perceived by foreign investors already present in Pakistan. He mentioned that Pakistan exporters do not seem to have taken full advantage of the GSP Plus status granted by EU. The German Chargé d’affaires also discussed with OICCI SG the economic aspects of CPEC and impact of current FTAs of Pakistan with China.

Mr Rainer Schmiedchen shared that he is aware that there are many more business related activities, including trade fairs etc, taking place in Pakistan than what one gathers from the print media only

In their concluding remarks, Messrs Dr Tilo Klinner, and Mr Rainer Schmiedchen thanked the OICCI for the informative presentation and both teams agreed to maintain close coordination to promote trade and Investment between Pakistan and Germany.

© 2012 Overseas Investors Chambers of Commerce and Industry
The Overseas Investors Chamber of Commerce & Industry (OICCI) serves as the national point of reference for foreign investors in Pakistan. Established in 1860 as the Karachi Chamber of Commerce, it is the oldest of the existing chambers.