Key Points
- UK, Pakistan enjoy deep commercial ties: UK trade envoy
- Says there is much more both countries can achieve
- Envoy to hold talks with key government officials and business leaders
ISLAMABAD: The United Kingdom’s Trade Envoy to Pakistan, Mohammad Yasin MP, is on a three-day visit to Karachi and Islamabad, aimed at boosting trade ties and encouraging long-term investment between the two nations.
Pakistan and the UK enjoy robust economic ties, with the UK being Islamabad’s largest export destination in Europe and third third-largest export destination globally, according to Arab News.
“The UK and Pakistan already enjoy deep commercial ties, but there is much more we can achieve together. It is a place close to my heart, and I have seen over many years the enormous potential to help both our countries prosper. During my visit, I look forward to supporting efforts that unlock new opportunities and drive growth,” Pakistan state-run news agency APP cited Mohammad Yasin MP as saying.
During his visit, Yasin will hold meetings with key government officials, including Jawad Paul, Secretary for Commerce, and Chaudhry Salik Hussain, Federal Minister for Overseas Pakistanis. He is also scheduled to engage with business leaders and stakeholders to explore avenues for trade expansion and collaboration in sectors of mutual interest, according to Arab News.
Trading partner
APP reported that currently, more than 200 British companies operate across Pakistan, with the top five contributing approximately one per cent of Pakistan’s GDP. The UK remains Pakistan’s largest European trading partner and the top source of foreign direct investment (FDI).
This high-level visit is expected to lay the groundwork for the UK-Pakistan Trade Dialogue, set to launch later this year. The forthcoming Dialogue aims to enhance bilateral exports, increase investment flows, and address regulatory and market access issues to improve the overall business environment.
Pakistani diaspora
The visit takes place amid Pakistan’s push in recent months to forge stronger trade and investment relations with regional allies and friendly nations.
Apart from the close ties the two nations enjoy, the UK is also home to a large Pakistani diaspora and a preferred destination for thousands of Pakistani students to pursue higher education opportunities.
