Envoy for transformation in Portugal, Pakistan economic ties

In Faisalabad, German Ambassador Ina Lepel has advocated for stronger economic ties between Pakistan and Germany, pointing to opportunities to broaden trade, increase investment, and enhance business-to-business collaboration. Addressing the Pakistan Textile Exporters Association (PTEA) on Monday, Lepel mentioned that businesses in both nations were seeking to broaden their international partnerships.

While recognizing advancements in Pakistan's infrastructure and certain economic metrics, she emphasized that structural issues still hinder trade and investment expansion. She stated that the German industry is actively exploring ways to diversify supply chains and forge new international alliances, presenting potential for countries like Pakistan.

Lepel remarked that progress in infrastructure and energy access is positive, but hurdles remain that affect investor confidence and export appeal. She also highlighted that German financial aid initiatives are increasingly aimed at sustainability, the circular economy, and labor standards across various industries in Pakistan. Referring to these efforts, the GIZ organization is active in several economic sectors to boost productivity, working conditions, and the export volume of Pakistan.

Moreover, a specialized Pakistan Desk has been set up at the German Emirati Joint Council for Commerce and Industry to link German firms with business, investment, and market possibilities in Pakistan. At the event, PTEA Chairman Rehan Naseem Bharara celebrated the 75th year of diplomatic relations between the two countries, characterizing it as a reflection of a friendship anchored in trust, mutual regard, and consistent cooperation.

He noted that Germany is Pakistan's principal trading partner within the European Union, with bilateral commerce surpassing USD 4.23 billion in the past year. Although this underscores the robustness of commercial relations, he noted that there is substantial untapped potential. Broadening trade, expanding cooperation across sectors, and strengthening business-to-business ties could pave the way for a USD 10 billion trade partnership, according to Bharara.

Stressing the Association's role in the country's economic growth, former PTEA Chairman Khurram Mukhtar stated that PTEA assists its members in navigating changing trade necessities. The Association promotes traceability and circular economy principles, elevating awareness of Green Button prerequisites to strengthen the sector's sustainability, compliance, and competitiveness in global markets.

The PTEA emblem was subsequently given to the visiting German ambassador. A substantial number of textile exporters were present at the event.