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High Commissioner Apprises Key Stakeholders Of Business And Investment Opportunities Between Pakistan And The UK
Sumaira FH Published July 04, 2020 | 11:04 PM
Pakistan High Commissioner to United Kingdom (UK), Mohammad Nafees Zakaria in a Virtual Conference on 'Exploring Business Opportunities with the United Kingdom' appraised the stakeholders and business leaders of huge trade and investment opportunities between and the two countries and urged them to explore and take benefit from the conducive business environment being offered for the investors in Pakistan
LONDON (UrduPoint / Pakistan Point News - 4th Jul, 2020 ) :Pakistan High Commissioner to United Kingdom (UK), Mohammad Nafees Zakaria in a Virtual Conference on 'Exploring Business Opportunities with the United Kingdom' appraised the stakeholders and business leaders of huge trade and investment opportunities between and the two countries and urged them to explore and take benefit from the conducive business environment being offered for the investors in Pakistan.
The virtual conference on "Exploring business opportunities with the United Kingdom" was held on on July 03, 2020,which was organized by the Pakistan-Britain Business Council (PBBC) in collaboration with Pakistani businesses.
The purpose was to bring together key stakeholders on one platform so that business opportunities and challenges emanating in the wake of Covoid-19 could be discussed, and steps needed for enhancing Pakistan's export to the UK could be explored.
Besides the High Commissioner, the Conference Panelists included Mr. Julian Hamilton Barns, Chairman, PBBC and Honorary Consul of Pakistan in the UK,Shafiq A. Shahzad, Trade and Investment Minister, Pakistan High Commission London, Rashid Iqbal, CEO PBBC and Mr Talib Karim from IoBM. Imran Khalil, former Chairman PUKBC, and Ms. Fariha Shah, Former Marketing Manager at PepsiCo moderated the Conference.
Leading Pakistani businesses participated in the Conference Pakistan including Selimpex (Exporters to H&M and other UK retailers), Pakistan's leading textile designers Sana Safinaz, Policy Makers and Tech Venture Capitalists.
Pakistan High Commissioner, Mohammad Nafees Zakaria highlighted the current economic situation of the UK especially in the context of Covoid-19, and apprised the participants about emerging trade opportunities with the UK.
He outlined key sectors with export potential in this market and underlined the need for focusing on these sectors.
Zakaria stated that certification and standards compliance was the key in making long term business contracts, pointing out that Pakistani exporters need to concentrate on building trust, securing regulatory approvals and standards and developing a marketing strategy for their products.
While highlighting export potential of Personal Protective Equipment (PPE), the High Commissioner emphasised on availing of this opportunity through investing in R&D and securing necessary approvals for marketing of such products on long term and sustainable basis.
He assured participants that the Pakistan High Commission in London and its regional Consulates would offer all possible assistance required for certification and compliances and also introduce Pakistan Businesses to their counterparts in the UK.
Mohsin Gheewala, a leading Pakistani exporter gave an overview of the UK businesses and highlighted key issues hampering Pakistan business prospects in the UK market.
Roger Bayat, suggested that there was a need to exploit digital global economy and Pakistan IT potential.
It was also proposed that UK-British Private Equity and Venture Capital Association (BVCA) in London may be utilised to introduce Pakistan's Tech Sector in this market.
Julian Hamilton Barns endorsed the High Commissioner's comments explaining that Pakistani Businesses must aggressively market their products across the UK building awareness of Pakistan as a major export centre and saying that exporters needed to invest in building Pakistan's export capacity by "pounding the streets" and getting the message across.
Tariq Ikram former CEO, TDAP, while sharing his views, recommended that priority products may be identified; depending upon specific needs of the UK, and should be focused on for market penetration. He also commented on businesses facing visa issues due to closure of the UK High Commission in Pakistan during pandemic.
Talib Karim (IoBM) highlighted education as a sector where businesses from both ends can come together, through virtual collaboration as well as exchange of talent.
The Conference made it clear for the requirement for focus and investment and the need for an appropriate platform to allow exporters to showcase their goods and to connect with potential UK importers.
It also recognised the need for Pakistan Businesses to engage with all stakeholders across the export spectrum including government and trade bodies. An updated knowledge of the UK/EU import requirements, standards and certifications was a key deliverable that needed to be taken into account by exporters.
In the end, the High Commissioner thanked all the participants, organisers and hoped that dialogue would continue for further strengthening the trade and investment relations between Pakistan and the UK for the benefit of the people of the two countries.
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