SBP presents commemorative coin to German Ambassador

ISLAMABAD (APP): The State Bank of Pakistan (SBP) here on Wednesday presented the commemorative coin of Rs 70 to the German Ambassador for Pakistan to mark 70th anniversary of Pakistan-Germany Diplomatic relations.
The coin has a diameter of 30.00 mm and weigh of 13 grams with milled serrations on the edge. The metal composition of the coin is Cupro-Nickel (Copper 75% & Nickel 25%).
The coin was presented the ambassador during an event organized by SBP.
Among others, the event was attended by Ambassador of Germany to Pakistan, Bernhard Schlagheck, Foreign Secretary Sohail Mahmood and SBP Deputy Governor, Dr Murtaza Syed.
Speaking on the occasion, Ambassador of Germany highlighted the diplomatic relations between Pakistan and Germany and expressed the resolve to further cement these in all spheres during the days to come.
The coin testified the cordial relations of both the countries, besides maintaining these relations over the years in many fields, he said adding that both the countries had mutual understanding on host of areas.
He said due to trustful political dialogues, the inflow of visit and visitors between both the countries witnessed significant increase during last couple of months.
The ambassador expressed hope that people-to-people contact would further flourish as the Prime Minister of Pakistan was expected to visit Germany during current spring season, adding that German Foreign Minister was also expected to visit Karachi soon.
He said both the countries enjoyed long lasting bilateral relations in different fields including trade, finance and banking for last 60 years.
The ambassador lauded the role of Pakistani diaspora in Germany, adding, they were playing an important role in social prosperity and economic development of Germany.
Speaking on the occasion, Foreign Secretary Sohail Mahmood said both the countries were enjoying cordial diplomatic relations, which were established in 1951.
During the period, he said, both the countries developed strong bounds in different sectors of economy including trade, investment, energy generations, science and technology.
Both the countries had also strong bilateral relations in other fields including defense and defense cooperation, adding that Ministry of Foreign Affairs has planned different events to commemorate the 70 years of diplomatic relations.
He said Germany was the largest trading destination of Pakistani products within European Union and was among the largest investors that invested in different sector of national economy.
Addressing the ceremony, Deputy Governor State Bank of Pakistan said both the countries were enjoying long standing cordial bilateral trade and diplomatic relations, adding that Germany was also the member of Friends of Pakistan Forum.
In terms of finance and investment, both the countries had built strong relations and established their respective banking channels to facilitate and promote bilateral trade and investment ties and further strengthening these relations.
He said bilateral trade among both the two countries was recorded at US $ two billion, adding that expatriate Pakistanis in Germany remitted over US $ 2.7 billion, which had contributed in stabilizing foreign exchange reserves.
He said both the countries were benefiting from each other by sharing knowledge and experiences as about 69 officers from SBP participated in different training programs in Germany, adding that these relations were not affected in the global pandemic period.
On the occasion, Foreign Secretary presented commemorative coin to Ambassador of Germany, besides presenting him memorial coin of Dr Ruth Pfau for her meritorious services and devoted her life to fighting leprosy in Pakistan.