Need Stressed To Tap Potential Of Trade With UK

ISLAMABAD, Apr 2 (UrduPoint / Pakistan Point News - 3rd Apr, 2023 ) :President Pak-British Friendship Council North West Chapter, Muhammad Arbab Khan Sunday said that he would play a role to further increase bilateral trade ties between Pakistan and UK as both countries have a good potential for trade in many areas for mutual benefit.

He said this while exchanging views with Mian Kashif Ashfaq Chairman UK-Pakistan Joint Business Council and Chief Executive Officer Pakistan Business Council during his visit to the business council office in Lahore, said a press release.

He said that the Pakistani diaspora in the UK was keen to invest in Pakistan as they wanted to see Pakistan as a strong economy. He said that a further conducive business environment would attract more investment from overseas Pakistanis settled in the UK and other countries.

He invited the Pak business council and Pakistan Furniture Council delegations to visit the UK to explore business collaboration with Britain counterparts and assured that he would cooperate in making their visit successful.

Speaking at the occasion, Mian Kashif Ashfaq said that the UK was an important trading partner of Pakistan and we wanted to further enhance trade and exports with the UK.

He said that bilateral trade between Pakistan and the UK was still less than US$ 3 billion and stressed the need of developing strong business linkages between the private sectors of both countries to take bilateral trade to higher levels.

He said that the Chinese and Indian diaspora has played an important role in making the economies of their home countries better and stressed that the Pakistani diaspora should also come forward to steer Pakistan out of the current economic turmoil.

He said that the UK has already invested in Pakistan in many sectors including financial services, oil and gas exploration, petroleum refining, electricity generation, pharmaceutical, publishing, industrial chemicals and cement and stressed that Pakistani diaspora in UK should transfer technology and explore joint ventures and investment in Pakistan.

He shared useful ideas for further improving bilateral trade and economic relations between Pakistan and UK.