Pak-UK trade to boost up to £2.5b

Pak-UK tradeKARACHI: Bilateral trade between Pakistan and the United Kingdom would be boosted to 2.5 billion Pound Sterling by 2015.

The mutual trade of the two countries had improved to 2 billion Pound Sterling last year and the quantum of trade would be raised further to 2.5 billion.British Deputy High Commissioner Francis Campbell disclosed this at a reception in Karachi. The reception was arranged in honour of the representatives of the 50 British companies who had arrived in the city to participate in the 6th Expo Pakistan, from Oct 20-23. He pointed out that last year Pakistan’s exports to UK have surged by 16 per cent while imports from UK showed a marvelous 26 per cent growth.

Representatives of around fifty companies of UK, recruited by the Pakistan High Commission in London and the Pakistan Consulate General in Manchester, participated in mega exhibition in Karachi that turned out a big and successful show, arranged by the Trade Development Authority of Pakistan, led by Tariq Iqbal Puri.

The companies belonged to an assortment of sectors ranging from information, communication technology, sportswear, hotel, tourism, creative, media, household items, packaging and alternate energy, which are interested in exploring export and investment opportunities in Pakistan. Saira Najeeb Ahmed, Commercial Counselor at Pakistan High Commission in London, who also attended reception, said, “Pakistan and UK relations are time tested and evolving on all tiers and areas. The major areas of our cooperation where people to people relations are built include education, health, trade, investment, art and cultural exchanges.

This key message is for both the countries to make efforts and commit resources to contribute to the target of increasing bilateral trade between Pakistan and the United Kingdom to 2.5 billion Pounds Sterling by 2015.” Due to the UK’s historical and cultural links and the easy use of English as the business language, Pakistan presents numerous and significant opportunities for investment both at using Pakistan as an export base and at tapping into an emerging market with a rapidly growing middle class, said Francis Campbell, British Deputy High Commissioner. He said the events like Expo Pakistan facilitate this exchange of people, knowledge and ideas that are crucial in achieving objectives of increasing bilateral trade between UK and Pakistan. – PT