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Danish investors see great potential of investment in Pakistani textile sector

YarnsandFibers News Bureau 2014-10-27 15:00:00 – Islamabad

A Danish trade delegation visit Pakistan to explore opportunities for investment and trade in various sectors but see great potential especially in textile and energy sectors of Pakistan.

There is great scope for Danish companies to establish their concerns in Pakistan with technology and land at low cost. Moreover, Pakistan has been given the Generalized System of Preferences (GSP) status by the European Union making it more attractive for sourcing companies, especially in the textile sector.

Marking the start of a new era of relations between Denmark and Pakistan, the trade delegation is likely to hold meetings with government officials and the business community.

Pakistan’s economy is growing with a budding middle class and a relatively conducive business environment offer great potential for Danish companies. The visit will send out positive vibes to encourage investment, said Ambassador of Denmark Jesper Moller Sorensen.

The Danish government has decided to provide more resources to the mission to support the companies that are interested to invest in Pakistan. Efforts of the mission on the commercial side go hand-in-hand with the broader policy objectives for Pakistan.

The mission is active in their development assistance programme and is reaching out to the people to create awareness of their activities.

Increased opportunities for the business community of Pakistan will encourage growth and generate jobs, which was the best way to alter terrorism.

Denmark, a small open economy is highly dependent on trade with other countries. Foreign trade and investment are the driving forces for the Danish business. The current trade volume between both the countries is approximately $425 million which can be increased.

Danish companies are globalized and are working with emerging markets of the world.

The Danish Ambassador is of the view that the surplus or deficit is not important, but the combined trade which must increase. Few Danish companies have been active in Pakistan for decades and some are doing very well and there was significant room for improvement.

Jens Holst-Nielsen, Director of International Trade and Market Development at the Danish Confederation of Industries, stated that he sees this first Danish business delegation as a very positive development in the Danish-Pakistan relation.

Their expectations to the outcome of the visit are high and the response among Pakistani companies and authorities is a living proof of the friendly and open-minded relations that already exist between the two countries.

The delegation of the Confederation of Danish Industries, represent different sectors — from heavy industry to service providers. They reflect the interest of Danish companies to engage in new relations for trade and innovation with Pakistani companies and authorities.

Also part of the delegation is a representative of the financial institution, the Danish Investment Fund for Developing countries (IFU).

During the week-long visit, the delegation will be meeting the senior government officials include Punjab Chief Minister Shahbaz Sharif and Minister for Commerce Khurram Dastgir Khan.

The delegation will also meet prominent Pakistani companies in Karachi, Lahore and Islamabad. Exclusive business seminars with individual company meetings will also be arranged in all the three cities.

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