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Pakistan’s Sharif to secure German, UK investment after landmark China visit

Pakistan’s Sharif to secure German, UK investment after landmark China visit

BERLIN: Prime Minister Nawaz Sharif, after singing different agreements and Memorandums of Understanding (MoUs) worth $42 billion in China, has arrived in Berlin to multiply already existing $2.5b trade by inviting German investors to invest particularly in Pakistan’s energy and agriculture sectors. From Germany, PM Nawaz will reach Britain on a two-day visit on November 12 to seek investments in energy sector to overcome the power crisis in the country.

Sharif, who arrived in Germany today after a three-day visit to China last week, will head to the United Kingdom this week to inaugurate the Pakistan-UK Energy Dialogue and Investment Conference in London, Foreign Office said.

The energy conference to be held on Thursday will be attended by CEOs and leading figures of the sector and focus on assisting Pakistan in seeking investments in addressing its energy needs through sharing expertise and best practices. During the visit, the Prime Minister will also meet British ministers, senior officials and experts in the energy sector. It will be Sharif’s third foreign trip since last week.

Currently, the premier is on a two-day official visit to the country at the invitation of Chancellor Angela Merkel. “There is great scope for investment in agriculture, livestock and forestry in Pakistan. Germany can prove to be an important partner in these sectors,” Nawaz said in an interview in Germany.

Reiterating Pakistan’s resolve for peace in the region, the prime minister said, “Pakistan wants peace in the region and for this purpose the country is extending maximum possible cooperation to ensure stability in Afghanistan.”

According to a message sent by Pakistan’s Embassy in Berlin, during the visit the premier will hold talks with German Chancellor Angela Merkel.

In an interview to German TV channel N24, Sharif said achieving economic development and ending the energy crisis were the foremost priorities of his government. He said the government was encouraging the private sector and German investors should take advantage of this policy by investing in different sectors, including energy and agriculture.

It is pertinent to mention that Pakistan’s annual trade with Germany stands at $2.5 billion. There is also a strong Pakistan diaspora of over 70,000 living in Germany. There are more than 2,300 students from Pakistan in German universities.

Meanwhile, Chief Minister Shahbaz Sharif, after returning from China, said that Chinese leaders have expressed full confidence in the leadership of Prime Minister Muhammad Nawaz Sharif.

He said that agreements for investment of $42 billion have been signed during the visit to China. He said that the projects with the cooperation of China will be implemented with speed and transparency.

Nawaz Sharif has already termed the Chinese visit a ‘game changer’. He said that MOUs signed with China will help compensate for the loss allegedly incurred due to the sit-in protests in Islamabad.

Pakistan and China had signed as many as 19 MOUs worth billions of dollars on Saturday.

These MOUs include Pak-China economic corridor, energy projects including Thar coal mining, power plants, hydel power projects, Muzaffargarh power project, wind power project and solar power project among other technical assistance.