Businesses See Promising Pak-UK Ties Ahead After Brexit, Says Mian Kashif

Businesses  see promising Pak-UK ties ahead after Brexit, says Mian Kashif

Faisalabad Industrial Estate Development and Management Company(FIEDMC) Chairman Mian Kashif Ashfaq Saturday said the government is working on multiplefronts to enter into new markets in order to boost exports in post-Brexit scenario and leadingtrade organisations and Pakistani entrepreneurs both in Britain and Pakistan see this as anexciting time for the Pak-UK trade and economic partnership to be taken to a new level

Faisalabad (UrduPoint / Pakistan Point News / Online - 15th February, 2020) Faisalabad Industrial Estate Development and Management Company(FIEDMC) Chairman Mian Kashif Ashfaq Saturday said the government is working on multiplefronts to enter into new markets in order to boost exports in post-Brexit scenario and leadingtrade organisations and Pakistani entrepreneurs both in Britain and Pakistan see this as anexciting time for the Pak-UK trade and economic partnership to be taken to a new level.He expressed these views while talking to delegation of UK-based investors during leg ofFIEDMC tour to Europe and these foreign investors are keen to invest in Allama Iqbal IndustrialCity, a prioritized Special Economic Zone of FIEDMC under CPEC."To fully capitalise on these opportunities, British firms would like to see further progress inreducing corporate tax rates, data privacy and ease of doing business indicators.

If these stepsare taken, and the UK maintains an active strategy for engagement and interaction with thePakistani economy at all levels, it will remain a significant partner in Pakistan's future growthstory," he pointed out.He further said that "the China-Pakistan Economic Corridor (CPEC) and Brexit are twoimportant developments, and as the global economic gravity shifts towards Asia, Pakistan isopening new vistas of business opportunities to the advantage of the people in both countries.Mian Kashif said the United Kingdom is the third largest investor in Pakistan after China and theNetherlands and accounts for 8% of foreign direct investment to Pakistan, also the UK hasovertaken China and now is Pakistan's 2nd largest export market after the US and also thelargest market in the Europe".

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