Need To Strengthen Trade Ties With UK Highlighted

Further strengthening of trade and economic relations with United Kingdom should be cornerstone of Pakistan's foreign policy as this lucrative destination could help the country boost national exports to the required level

LAHORE, (UrduPoint / Pakistan Point News - 12th Apr, 2018 ) :Further strengthening of trade and economic relations with United Kingdom should be cornerstone of Pakistan's foreign policy as this lucrative destination could help the country boost national exports to the required level.

This was upshot of the speeches delivered at a seminar on 'Pak-UK Business Ideas', organised by Lahore Chamber of Commerce and Industry (LCCI) Standing Committee on Pak-UK Business Relations, at LCCI here on Thursday.

LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid, former president Mian Anjum Nisar, Convener Standing Committee on Pak-UK Business Promotion Nabila Intesar, Co-Convener Uzma Nawaz, Trade & Investment Manager, Waqar Ullah, Department for International Trade, UK, Sajid Saleem Minhas, Asad-ur-Rehman and Agha Saidain spoke on the occasion.

The LCCI president said that Pakistan and UK enjoy strong bilateral relations and share history and deep cultural linkages. Pakistani businessmen should grow their relations with their British counterparts to avail the available opportunities.

He said that exchange of delegations and participation in each other's exhibitions are useful tools to know more about each other. Such interactions with the counterparts and other stakeholders allow embarking upon new areas of cooperation.

He said that UK is known for having strong socio-political atmosphere where the people and the government work hand in hand for the betterment of the country. He said that United Kingdom is one of the top five exporting markets in the world for Pakistan.

United Kingdomis ranked at 3rd and 16th places among the top exporting and importing countries respectively for Pakistan. He informed the participants that LCCI is making all-out efforts for the cause of business community.

Second phase of FTA with China has been stopped with the efforts of the Lahore Chamber of Commerce and Industry. Khawaja Khawar Rashid said that UK should provide some trade facilitation to Pakistan.

He emphasized the need for collective efforts to increase the existing trade volume between the two countries. Waqar Ullah, Trade and Investment Manager, UK said that to enhance trade between the two countries there should be exchange of information so that both sides get updated knowledge about each other.

Exchange of delegations should be linked up with events. He continued that he is the focal person for UK and is trying his best to facilitate in matchmaking on both sides. He informed that in UK there is one window operation for the person who wants to invest, therefore, he also suggested to introduce the same facility for investors in Pakistan.