BSH Hausgeräte GmbH, the largest manufacturer of home appliances in Europe, has termed Pakistan a potential business destination, saying that it will enter the growing market through distribution partnerships with local business groups.This development comes a few months after BSH Hausgeräte GmbH’s parent company, Robert Bosch GmbH, announced it would be entering the Pakistani market to provide automotive parts and equipment along with power tools, security systems along with other technology-related items.BSH Hausgeräte GmbH is currently looking for prominent local business groups for possible distribution partnerships and is confident of becoming a market leader in the country in the next five years.BSH Middle Eastern and South Asian Chief Executive Officer Gokhan Sigin said that Pakistan is now one of the region’s emerging economies. With annual population growth of more than 2%, Pakistan represents one of the biggest markets in Asia.“This results in an increasing number of households, which have a need for home appliances and we are looking for good future for our company here.”According to the International Monetary Fund, he continued, Pakistan’s economy is likely to post steady growth of around 5% per year up to 2020. “For many economists, this growth rate is normal, but we think it is enormous, we are very good when it comes to finding local solutions and we are hopeful Pakistan will prove to be a success case.“Additionally, Pakistan is the sixth most populous country in the world, making it a very attractive market for the BSH.“On account of the growing and a young population with the low median age of 22, we see good business opportunities in Pakistan in the medium and long term.”BSH’s product portfolio spans the entire spectrum of modern household appliances that includes around 150 products. With more than 56,000 employees, BSH increased its revenue in 2015 to around €12.6 billion.Talking about how the company will approach the business model in Pakistan, Sigin said that would depend on the local partners. “It depends on them - how many products can they offer via their distribution network or at flagship stores.”He said that there is a possibility that a manufacturing unit might be established in Pakistan if things go well.“We started our business in Turkey back in 1996 by importing products - now we have our largest manufacturing base in Turkey. It all depends on how the market responds to our product range,” Sigin added.The launch of home appliances products in Pakistan is part of Bosch’s consistent and long-term growth strategy in South Asia.Published in The Express Tribune, May 11, 2016.Like Business on Facebook , follow @TribuneBiz on Twitter to stay informed and join in the conversation.