UK aims to boost trade with Pakistan from £3b to £10b

Nithavrianakis said that the UK focused on four areas for close cooperation with Pakistan: healthcare, education, green energy, and infrastructure.

The Port of Karachi.

The United Kingdom wants to increase bilateral trade with Pakistan from the existing £3 billion to £10 billion to achieve mutually beneficial outcomes.

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The news was shared by the UK Deputy High Commissioner in Karachi and the Trade Director for Pakistan, Mike Nithavrianakis, during his visit to the Islamabad Chamber of Commerce & Industry (ICCI) on Friday.

In the meeting, the British official expressed that bilateral trade and economic relations between the UK and Pakistan would bring progress and prosperity to both countries.

Mike Nithavrianakis, the UK Deputy High Commissioner in Karachi and the Trade Director for Pakistan.

 

He said that about 5,000 UK companies were doing business in the United Arab Emirates (UAE).

However, only 150 companies were in Pakistan, even though Pakistan was a huge market of over 200 million people.

Pakistan (dark green), IIJOK (light green), and the UK (orange).

 

He emphasized that Pakistan should focus on addressing the issues of red tape and other bottlenecks.

Likewise, Pakistan should ensure a predictable and growth-oriented tax regime to attract more investors from the UK and other countries.


Read More: How Mirpur City In Azad Kashmir Became ‘Little England’.


Nithavrianakis said that the UK focused on four areas for close cooperation with Pakistan: healthcare, education, green energy, and infrastructure.

He said that the UK could cooperate with Pakistan in agriculture, manufacturing, pharmaceutical, and other sectors to make the South Asian country’s economy more competitive.

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He added that the UK would provide preferential access for Pakistani products to its market, further improving Pakistan’s exports.

Talking about the export of fruits and vegetables to the UK, he said that Pakistani exporters should meet UK standards to penetrate its food market better.

He stressed that Pakistani companies should focus on better marketing their products as an insufficient focus in that area kept them from promoting exports to their real potential.

He said that the UK had issued advisories to its citizens to encourage them to visit Pakistan.

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The British deputy high commissioner assured the ICCI that he would cooperate with its delegation to the UK and connect them with the right partners.

Likewise, the ICCI President, Sardar Yasir Ilyas Khan, said that there was great potential for promoting bilateral trade between Pakistan and the UK.

Khan pressed for better connectivity between the private sectors of the two countries.

Other officials, present on occasion, said that the UK should streamline its visa process for the Pakistani business community, developing strong business linkages between them.

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