LAHORE: German Ambassador to Pakistan Ina Lapel has termed Pakistan an interesting market, having over population of nearly 200 million young people.
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The ambassador said this after Inaugurating first office of leading German Technology Company Bosch, a leading global supplier of technology and services, in the provincial capital. She said, “The latest venture of German giant is an important milestone in our bilateral economic relations with Pakistan.”
Speaking on the occasion, Bosch Turkey and Middle East President Steven Young said his company is keen to be part of Pakistan’s rising growth story, adding, the strongly developing middle class, rising consumer demand and the growth of manufacturing and automotive sectors are very positive indicators.
“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” he said.
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 said 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 Pakistan’s automotive market is currently still in development. Pakistan’s current economic revival has garnered the interest of more mature players such as Bosch to enter the market.
In the Automotive Aftermarket, Bosch products including spark plugs, wipers, batteries and zexel in the diesel segment, are already in significant demand.
