Over 40 Swedish companies operating in Pakistan are struggling with high taxes, rising energy costs, and currency transfer restrictions, according to Alexandra Berg von Linde, Sweden’s ambassador to Pakistan.
These challenges, she noted, hinder foreign investment and strain trade ties between the two nations.
Speaking at the Karachi Chamber of Commerce and Industry (KCCI), the ambassador noted that the Swedish companies, many of them are globally renowned brands, have currently present in Pakistan for decades.
“These companies have played a role in Pakistan’s development and understand its business complexities, but addressing these hurdles is crucial to attract and sustain foreign investment,” she said.
Von Linde emphasized Sweden’s interest in strengthening ties with Pakistan, particularly in sustainability, digitalisation, and green transitions.
“A green transition is vital for Pakistan to remain competitive in the EU market, offering mutual benefits for both countries,” she added.
The Swedish Business Council, she pointed out, has been instrumental in fostering trade relations, helping Swedish firms explore opportunities in Pakistan.
“The council actively facilitates trade and serves as a gateway for Swedish businesses entering the Pakistani market,” she said.
Addressing Pakistan’s status under the Generalised Scheme of Preferences Plus (GSP Plus), the ambassador acknowledged its significance in boosting economic growth but stressed compliance with international standards.
“The GSP system requires adherence to conventions on human rights, labour laws, environmental protections, and governance. Pakistan is making efforts to align with these regulations in collaboration with the European Union,” she remarked.
This year marks 75 years of diplomatic relations between Sweden and Pakistan, which reflects a milestone, Von Linde expressed hope for continued collaboration built on mutual respect and shared goals of economic and sustainable development.
News Source: The Express Tribune
