Pakistan and Germany decide to enhance the economic ties

Pakistan and Germany decide to enhance the economic ties

SLAMABAD: Pakistan and Germany have expressed interest in exploring avenues for potential economic cooperation in future.

The understanding came during a meeting between Minister for Planning, Development and Reform Asad Umar and German ambassador to Pakistan Bernhard Schlagheck who called on him in Islamabad on Monday, Radio Pakistan reported.

During the meeting, the two discussed mutual interest in bilateral relationships, particularly improving trade and enhancing investment for scope of German companies in Pakistan.

The minister emphasized that the incumbent government is committed to enhance trade ties with Germany .

Earlier on October 10, Pakistan and Germany had signed an agreement for technical assistance under the Pakistan-Germany Development Programme worth 23.4 million Euro (PKR 3.9 billion).

Federal Minister for Economic Affairs Hammad Azhar had witnessed the signing ceremony of the Technical Cooperation Agreement with the Government of Federal Republic of Germany.

Economic Affairs Division Secretary Noor Ahmed and Ambassador of Germany to Pakistan Bernhard Stephan Schlagheck had signed the agreement. The technical assistance will be extended to projects in the area of social protection, technical and vocational education, support for local governance and improvement of labour and social standards in Pakistan’s textile industry.