Karachi (Cliff News)Consul General of Switzerland Mr. Philippe Crevoisier has said that although potential exists but efforts must be made to improve the perception and image of Pakistan in order to transform this potential into success story.Exchanging views with KCCI Office Bearers during his visit to the Karachi Chamber of Commerce & Industry, the Swiss Consul General said, “In order to attract more Swiss businesses and investment in Karachi, we will have to concentrate on improving the perception about the security situation of Karachi and the overall image of Pakistan which is of big importance.”President KCCI Shamim Ahmed Firpo, Senior Vice President KCCI Asif Nisar, Vice President KCCI Muhammad Younus Soomro and KCCI Managing Committee members were also present at the meeting.Philippe Crevoisier pointed out that Switzerland has been in Pakistan since its existence and many Swiss companies were successfully doing business here in Karachi. “We are being represented not only in Islamabad but also in Karachi which is a very good sign as not so many European countries were not present here. This clearly indicates that we actually see the potential and I am trying to understand how to transform this potential into success story”, he added.He said that although the existing investment and trade figures between the two countries were very nice but still low which have to be improved but this is not going to be an easy task.Philippe Crevoisier informed that Switzerland’s industry comprises of 80 percent SMEs which were well-organized to quickly react to numerous markets and they were looking forward to enhance their exports to new markets but unfortunately, Pakistan was not on the priority list of these companies mainly due to the perception.He was fairly convinced that the overall security situation was much better as compared to the perception. It has improved during the last few years which was likely to encourage many Swiss companies including SMEs to get into this market and look for opportunities.He said that Karachi holds huge potential for Swiss companies and it was a good sign that many businessmen from Karachi were also eager to do business with Switzerland.Earlier, while welcoming the Swiss Consul General, President KCCI Shamim Ahmed Firpo informed that Karachi, which is the economic and financial hub of Pakistan, offers profitable investment opportunities and added facilities for investment and joint ventures to Swiss Investors. This city, which contributes more than 65 percent revenue to the national exchequer, was an attractive place for the Swiss SMEs, who can surely earn maximum profits by exploring opportunities.Commenting on Pakistan-Switzerland relations, he said Pakistan and Switzerland have always enjoyed long-standing cordial, friendly and multi-faceted ties. It is heartening to note that Switzerland was ranked 5th in terms of foreign direct investment in Pakistan and was a reliable trading partner.He said that many Swiss companies operating in Pakistan were engaged in different sectors including energy, chemicals, pharmaceuticals, agriculture solutions, catering, cigarette manufacturing, food, telecommunication, quality testing, machinery and construction material which the business community warmly welcomes but many other important sectors also offer lucrative opportunities hence, exploring opportunities in these sectors should also be considered by Swiss companies.President KCCI noted that during FY 2015-16, Pakistan exported goods of worth $65 million to Switzerland as against exports of $94 million during the same period of preceding year, showing decline of 31% which needs attention. The imports from Switzerland increased by 13.5% during FY16 after totaling at $736 million as compared to $648 million a year earlier. The trade balance is therefore heavily tilted in favor of Switzerland, he added.He was of the view that potential exists for Swiss businessmen to invest in Pakistan on 100 percent equity basis or as joint ventures with local industries. Pakistan can greatly benefit from Swiss expertise in energy sector, mining, agriculture, and equity market. The possibility of cooperation also exists in supplying raw materials and finished products for fertilizers, chemicals, and pharmaceutical industry in Pakistan, he added.
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President Karachi Chamber of Commerce & Industry (KCCI) Shamim Ahmed Firpo presenting KCCI’s Crest to Consul General of Switzerland Philippe Crevoisier during his visit to KCCI.Senior Vice President KCCI Asif Nisar, Vice President KCCI Muhammad Younus Soomro, Head of Commercial Section of Switzerland Jordan James Din and others are also present at the picture.