Austrian companies exploring new Oil and Gas Exploration and Renewable Power Projects: Ambassador


Karachi: “Pakistan likely to get GSP+ status in EU in the next Pak-EU Summit”, stated by Austrian Ambassador Axel Wech in a meeting at KCCI with the President, Office Bearers and Executive Members. Ambassador articulated that Pak-Austrian relationship was good but not so intensive aligned with the existing potential in terms of economic ties and he was extending efforts to foster the relationship. Immense prospects for investment and joint ventures exist in oil and gas exploration and renewable energy viz. Wind, solar, hydal, he informed. Agreement of a pilot project on bio-mass energy was also signed with Sindh Government, whereas, opportunities in tourism sector and agriculture was under consideration.

Expressing concern over the existing level of bilateral trade, the Ambassador suggested that frequent exchange of trade delegations, single country exhibitions could prove imperative to strengthen bilateral trade. He also invited KCCI to organize a Road show or single country exhibition at Austria. He said that Austrian businessmen were interested to initiate joint ventures with their Pakistani counterparts as the country was fast emerging economy and the hub of commercial activities due to its strategically important location and availability of skilled labour on low cost. Ambassador also highlighted new prospects of oil and gas and in renewable energy sector.

For more information, contact:
M. Shafiq Baig
Public Relations Officer
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road,
Shahrah-e-Liaquat, Karachi-74000
Tel: +9221 9921 8001 -09
Fax: +9221 9921 8010
Email: pro@kcci.com.pk, pro2@kcci.com.pk
Website: http://www.kcci.com.pk/