Key points
- UK sees great potential in Pakistan’s economy: Envoy
- Describes Pak-UK ties as “two sides of the same coin”
- 6m Pakistanis reside in UK
ISLAMABAD: British High Commissioner to Pakistan Jane Marriott has reaffirmed Britain’s long-term commitment to the country’s economic development, adding the United Kingdom is ready to partner with Pakistan to help grow its economy to $2 trillion.
Addressing the “Leaders in Islamabad Business Summit”, Marriott said the UK is determined to further strengthen its strategic partnership with Pakistan across several vital sectors, including finance, healthcare, education, engineering, and energy, according to The Express Tribune.
Young population
The High Commissioner noted that the UK remains one of the largest providers of financial, business, and trade services worldwide, and sees great potential in Pakistan’s economy, particularly given its young and dynamic population.
“If Pakistan continues on its current path of reforms and economic stability, there’s every reason to believe its economy could reach the $2 trillion mark,” The Express Tribune cited Marriott as saying.
She described relations between the two nations as “two sides of the same coin,” saying that their partnership has gained significant ground in recent years.
If Pakistan continues on its current path of reforms and economic stability, there’s every reason to believe its economy could reach the $2 trillion mark.” – UK High Commissioner Jane Marriott
Referring to Pakistan’s recent progress on economic reforms, especially under International Monetary Fund (IMF) programmes, Marriott said the UK completely supports these efforts and views them as essential for long-term stability.
“Our collaboration with Pakistan is guided by long-term, strategic thinking and a shared belief in Pakistan’s enormous potential,” The Express Tribune cited her as saying.
Bilateral trade
Bilateral trade between the UK and Pakistan currently stands at £4.4 billion, and both sides have set a target to double this figure to £10 billion in the coming years.
Earlier, Associated Press of Pakistan reported that the High Commissioner said that there is a lot of potential in economic and trade relations between the United Kingdom and Pakistan and there are vast opportunities for promoting future bilateral trade on both sides.
She said that at present, the volume of bilateral trade between the two countries is 4.4 billion pounds and it needs to be enhanced in the future.
At present, 1.6 million Pakistanis are present as the Pakistan diaspora in the UK, which plays the significant role of a cultural bridge between the two countries and is also our cultural heritage, according to APP.
