Open AccessANALYSIS OF STRATEGIC COOPERATION, INVESTMENTS, AND TRADE A CASE STUDY OF PAKISTAN-GERMAN RELATIONS
Author(s) -
Wahid Sharif,
Muhammad Ali
Publication year - 2021
Publication title -
pakistan journal of international affairs
Language(s) - English
Resource type - Journals
eISSN - 2664-360X
pISSN - 2523-1693
DOI - 10.52337/pjia.v4i2.214
Subject(s) - diversification (marketing strategy) , german , economics , globalization , unrest , international trade , politics , divestment , business , international economics , political science , market economy , archaeology , marketing , law , finance , history
In order to fully understand the relationship between Germany and Pakistan, on both sides of the relationship, it is important to examine wider local and international economic and political trends. Pakistan is currently dealing with significant challenges after a democratic power transfer in 2013. Stable regional stability places pressure on Pakistan, aggravating domestic concerns such as macroeconomic and trade volatility, social unrest, and problems with energy and infrastructure supply chains, among other things. As a result, this study investigates the scope and history of German-Pakistani ties, with a focus on trade, economic cooperation, and strategic goals on both sides of the border. An analysis of trade and investment links between Germany and Pakistan over the previous decade indicates relatively low volumes with opportunity for growth. These concerns are shown in the absence of globalisation and economic diversification among Pakistan's private sector companies. More than that, neither country has a specialised policy organisation and neither has a long-standing and friendly, if not particularly energising, relationship with Germany. The EU-Waiver, GSP+, and related trade diversification programmes are the most important components of EU-Pakistani cooperation, and they account for a considerable portion of German-Pakistani debate. If these trends continue to be favourable, Pakistan should make every effort to benefit from them. It is critical for Germany and Pakistan to continue to develop and deepen their strategic cooperation relationship. German and Pakistani bilateral agreements on a framework for strategic interaction, which were signed recently, must be carried out in their entirety.