Denmark sees a huge opportunity in investing in Pakistan’s textile sector. The country had helped Pakistan secure GSP Plus status. Pakistan’s access to GSP Plus has substantially increased the scope for EU textiles companies to import high quality products at competitive price while Pakistani exporters have been granted duty free access to EU. So both Denmark and Pakistani companies are looking to find partnership opportunities and avail of the benefits.
Denmark is keen to expand bilateral ties with Pakistan through enhanced trade, investment, and sharing expertise mainly in the energy and textile sectors. The current trade volume between Denmark and Pakistan is around $450 million. Among Pakistan’s advantage are an abundance of raw material, socially responsible business strategies, relatively inexpensive and well-qualified labor, state-of-the-art vertically integrated textile set-ups, and design expertise.
The two countries have been enjoying historical friendship and traditional cooperation in many fields for many years but now it’s felt more efforts are needed to further strengthen ties by holding business-to-business meetings and exchange of trade delegations. Presently many Danish companies are engaged in various sectors of the economy in Pakistan.
A delegation from Pakistan visited Denmark to assess existing and potential resources, technology, knowledge and market opportunities.