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Enhancing ties: UK committed to increasing bilateral trade with Pakistan


5/8/2018
KARACHI: The UK is committed to increasing its bilateral trade with Pakistan, said British High Commissioner Thomas Drew at a Board of Investment (BoI) Conference held in Islamabad.
 
Speaking at the occasion, Drew said that the UK and Pakistan have an important economic partnership with bilateral trade worth £2.7 billion. He said that the UK is Pakistan’s largest export market in Europe.
 
He said that there are 120 British firms operating and investing here, however, “We would like to see more British companies investing in Pakistan creating jobs and supporting both our economies.”
 
“The Board of Investment and its provincial counterparts play a key role in attracting and facilitating investment. We stand ready to support their efforts through the Department for International Development and the recently launched UK Prosperity Fund project delivered by the World Bank,” the British official remarked. The event was attended by Prime Minister Shahid Khaqan Abbasi, Finance Minister Miftah Ismail and over 800 delegates.
 
He assured that with over 1.2 million British citizens of Pakistani origin, Pakistan’s long-term success is firmly in the UK’s national interest. “The UK will remain Pakistan’s most committed partner, in health, education, population control, nutrition, inclusive economic growth, resilience, climate change mitigation and rule of law.”
 
The high commissioner was of the view that with a population exceeding 200 million and a growing middle class of some 60 million consumers, there are good opportunities to increase British exports of both goods and services in this unsaturated and rapidly growing market.
 
“Given its fast growing population and potential for growth, Pakistan has the potential to emerge as an increasingly strong trading partner for the UK.”