Pakistan a rising market for world firms: German envoy
STAFF REPORT LHR: With a young and growing population of nearly 200 million people, Pakistan is an interesting market, which cannot be ignored in the long-run by multinational companies, said German Ambassador to Pakistan.
Ina Lapel while recently Inaugurating first office of leading German Technology Company Bosch, she said that latest venture of German giant is an important milestone in our bilateral economic relations with Pakistan.
Steven Young, President, Bosch Turkey and Middle East, said his company is keen to be part of Pakistans rising growth story, adding, the strongly developing middle class, rising consumer demand and the growth of manufacturing and automotive sectors are very positive indicators.
He said that the industrial sector will definitely benefit from Bosch innovations as we deploy our core competencies in the Automotive Aftermarket, Power Tools and Security Systems sectors.
Young, termed China Pakistan Economic Corridor (CPEC) a golden opportunity for the country and said it offered immense dividends to the country, both during its construction phase as well as operational phase.
He further said that his company was also hoping to benefit from the boom in construction and logistics business, courtesy this mega project.
Volker Bischoff, Vice President/General Manager of Robert Bosch Middle said studies indicate that Pakistans automotive market is currently still in development.
In the Automotive Aftermarket, Bosch products including spark plugs, wipers, batteries and zexel in the diesel segment, are already in significant demand.