Islamabad: In a significant meeting held on August 21, 2024, Mr. Ahad Khan Cheema, Pakistan’s Minister for Economic Affairs, welcomed Mrs. Svenja Schulze, German Federal Minister for Economic Cooperation and Development, along with her delegation, which included German parliamentarians and the German Ambassador to Pakistan. The discussion focused on enhancing bilateral relations, with Germany pledging continued support for Pakistan’s economic development.

According to Press Information Department, Minister Cheema expressed appreciation for Germany’s longstanding partnership and its recent support, including a €91.1 million contribution towards Pakistan’s climate resilient reconstruction following recent floods. He highlighted Germany’s role in helping Pakistan secure the GSP+ status and noted the cumulative development assistance of €4 billion since 1961. Key areas such as revenue generation, agricultural modernization, information technology, and human resource development were discussed as priorities for Pakistan’s economic agenda.

Mrs. Schulze reaffirmed Germany’s commitment to supporting Pakistan, announcing an additional €24 million for sustainable energy projects and emissions trading, emphasizing the potential for future cooperation in the textile industry, a vital sector for Pakistan’s economy.

Both parties underscored the importance of developing climate-friendly projects and supporting the growth of Small and Medium Enterprises (SMEs) as crucial to Pakistan’s economic stability and growth. The discussions also covered ongoing reforms within the framework agreed with the International Monetary Fund (IMF) and the hope that German support in clean energy and climate change initiatives would continue without budgetary constraints.

The meeting reflects a mutual commitment to deepen economic ties and collaboration on development projects between Pakistan and Germany, ensuring continued partnership in key economic sectors.