Sweden interested in energy, transport sectors for investment

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ISLAMABAD: Ambassador of Sweden to Pakistan Lars-Hjalmar Wide on Tuesday said his country is interested in the promising energy and transport sectors of Pakistan.

He said that Sweden can prove a good market for Pakistani fruits, vegetables, meat, leather, sports goods and textiles if potential is exploited properly.

Wide said this while speaking to Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Diplomatic Affairs Chairman Sheikh Humayun Sayeed and FPCCI Media Chairman Malik Sohail.

The ambassador informed that Swedish Chambers of Commerce has organised a delegation, which will explore possibilities of investment in green energy in Pakistan. Similarly, Volvo is interested in exporting busses to Pakistan, he added.

He lauded the role of Pakistan's embassy in Stockholm in promoting bilateral trade but added that perception of Pakistan is barring some investors from his country from launching projects here.

Wide said that Swedish companies like Tetra Pak, Millicom International Cellular, Saab Automobiles and GAC Logistics were operating successfully in Pakistan, which is an incentive for other companies.

However he regretted that Skanska AB, a multinational construction and development company completed construction of a dam in Azad Jammu and Kashmir in 2000 but they are still awaiting payment, which is sending very wrong signals.

The ambassador of Sweden assured the FPCCI officials that intending investors of Sweden will be briefed about opportunities in Pakistan. He called upon frequent visits of private sectors and federal chambers aimed at boosting bilateral trade.

The envoy said that EU package to Pakistan may not be as good as many hoped but its symbolic value is very important.

At the occasion, Sayeed assured of support in resolving problem of outstanding payment.

Demanding transfer of technology, relaxations in trade and close coordination between business communities of two countries, he said that the situation is quite different here then perceived.

Sayeed said that all facilities would be extended to incoming Swedish delegation so that they can help Pakistan overcome energy crisis, which has reduced gross domestic product growth by 2.0 percent.

End.