BREAKING: EU Giants Adidas, IKEA, Andritz Line Up to Invest in Pakistan

ISLAMABAD - In a major diplomatic and economic breakthrough, a high-level European Union delegation along with senior executives from global giants Adidas, IKEA, and Andritz called on Prime Minister Shehbaz Sharif in Islamabad, confirming strong interest in expanding investment and trade partnerships with Pakistan.

The delegation - led by Peteris Ustubs, Director (Asia Pacific) of the European Commission's Directorate General of International Partnerships - included:

• Manuel Pauser, Vice President of Adidas

• Karl Shloegelbauer, Vice President of Andritz

• Dieter Metkke, Regional Director of IKEA

• Thourya Triki of the European Investment Bank 

The meetings took place on the sidelines of the first-ever High-Level EU-Pakistan Business Forum in Islamabad, which brought together over 1,000 senior policymakers, business leaders, and investors from both sides .

Prime Minister Shehbaz Sharif assured the delegation of Pakistan's "firm resolve" to continue economic stabilization efforts despite regional challenges, including the recent spike in oil prices due to Middle East tensions .

The EU delegation, in turn, appreciated the Prime Minister's leading role in regional peace efforts, expressing deep gratitude for Pakistan's cooperation in hosting the landmark forum .

More than 600 Business-to-Business (B2B) meetings are scheduled during the two-day forum, focusing on key sectors including:

• Agribusiness

• Digital innovation and FinTech

• Green logistics and renewable energy

• Sustainable textiles

• Responsible mining 

The forum also marked the launch of the EU-Pakistan Business Network, which brings together over 300 EU companies already active in Pakistan to facilitate dialogue and support new European investors .

European Union Ambassador to Pakistan, H.E. Raimundas Karoblis, opened the forum stating:

"The European Union enjoys strong economic relations with Pakistan. It is a source of pride for me to say that the European Union is the top export destination for Pakistan. The purpose of the forum is not just to celebrate our trade relations, but to deepen, diversify, 'green,' and transform them into long-lasting investments." 

Finance Minister Muhammad Aurangzeb emphasized Pakistan's economic reforms under the theme "Pakistan Means Business," highlighting improved macroeconomic fundamentals and readiness for foreign investment .

The forum operates under the umbrella of the EU's Global Gateway initiative - the EU's largest investment program outside the bloc - which aims to mobilize €400 billion in investments between 2021-2027 .