Pakistan’s exports to Germany increased by 23% in 2010

ISLAMABAD: Pakistan’s exports to Germany increased by 23 per cent while overall trade volume between the two countries registered an increase of over 11 per cent during 2010. According to data issued by German Federal Bureau of Statistics, Pakistan’s exports to Germany were at over US $ 1.1 billion in 2010, which is the highest ever in a calendar year. Total bilateral trade volume in 2010 was at US $ 2.162 billion with the trade balance in favor of Pakistan, says a message received here from the Embassy of Pakistan in Berlin on Monday.

Germany also became the fifth largest source of foreign direct investment (FDI) in Pakistan during the year 2009-10. A year before, it was seventh biggest investor.During 2010, the Embassy facilitated participation of over 500 Pakistani firms in 22 trade fairs held all over Germany.During 2010 more German business representatives travelled to Pakistan than in 2009. This helped to promote economic relation between the two countries.Germany is Pakistan’s largest trading partner among the EU countries. Restoration of investment guarantees by Germany to its investors in Pakistan and the signing of a modern Bilateral Investment Treaty in 2009 have encouraged German business and investment community to view Pakistan as a destination to make profitable investments and expand business – APP