Islamabad—A business delegation comprising representatives of over 40 companies from the Northern Europe and the North Atlantic region (Nordic) conjoined in Islamabad for the Nordic Pakistan Business Summit. This was the third such summit held after the first two named Finland-Pakistan Business Summit were successfully conducted in Islamabad in 2014 and 2015.
“This year’s business summit was one of the biggest business promotional events ever done in Pakistan,” said Wille Eerola, Chairman of the Summit. “The idea was not just to take companies from countries like Finland, Sweden, Norway or Iceland to Pakistan but also to give Pakistani companies the opportunity to enter the very lucrative Nordic market. I believe both sides have the same challenge: Nordic companies don’t understand the dynamics and opportunities of the Pakistani market while the Pakistani companies don’t understand the purchasing power of the common Nordic market with only 26 million people. This summit aimed at building that bridge between companies of both regions.”
The summit discussed businesses in the sustainable energy, education and healthcare sectors – three of the many areas where experience and knowledge of the Nordic companies can benefit Pakistan. The Nordic region is a world-leader in producing fossil-free energy, e.g. the consumption of wind energy in Denmark is the highest per person in the world. Moreover, Norway is known of its oil reserves, over 99% of the electricity production in mainland Norway is covered by hydropower plants. Of all primary energy consumed in Finland around 25% is covered with renewable sources: one of the highest figures among all industrialized nations and the third highest in the EU. The world’s largest bio power plant with a capacity of 265 MW is also situated in Finland.
“Collaborations between companies of both the regions in the energy sector could go a long way in solving Pakistan’s energy crisis. The experience these Nordic companies will bring to Pakistan can help the country establish modern renewable energy production,” he said.