Secretary Commerce discusses trade relations with UK

UK agree to continue strong commercial relations with Pakistan

ISLAMABAD, Sep 29 (APP): The future of China Pakistan
Economic Corridor (CPEC), project was anticipated to increase connectivity across the region and would give a huge boost to the regional economies and trade.

This was stated by Secretary Commerce, Azmat Ali Ranjha
during a meeting with Lord Marland of Odstock, who is the
Chairman of Commonwealth Enterprise and Investment Council (CWEIC), in London, a message received here from London on Thursday said.

The Commerce Secretary was on an official visit to the
UK, to assess post Brexit trade opportunities and relations
with his British counterparts.

His visit schedule included senior level interactions
with Department for International Trade and Foreign and
Commonwealth Office (FCO), and meetings with the
Parliamentarians, key business leaders and chambers.

During the meeting with Lord Marland of Odstock on
Wednesday, Secretary Commerce informed him about the objective of his visit and highlighted the successes which the current government had achieved through better economic management of the country especially the impressive economic growth of 4.7% that was achieved in the last financial year.

Chairman CWEIC gave an overview of the Brexit and termed
it as a great opportunity where the Commonwealth countries can benefit from the independent role which UK may play in the post Brexit period.

He added that Pakistan has a lot of potential which
needs to be explored and empathized on working together to increase trade.

Secretary Commerce also invited Chairman CWEIC to

In the afternoon, Secretary Commerce met Syed Ibne
Abbas, Pakistan High Commissioner to the UK.

In the meeting, ideas were exchanged regarding ways and means of promoting trade and investment between Pakistan and the UK.

Later, a two member delegation comprising Wayne
Evans, Senior Adviser to The City UK and Belinda Lewis,
British Deputy High Commissioner to Pakistan met the Secretary Commerce.

The British Deputy High Commissioner said that a lot of
potential existed for the British financial services sector to
forge partnership with Pakistan.

She also talked about expertise of Britain in the agro business sector.

Secretary Commerce said that Pakistan was ready to
engage in constructive dialogue with the UK to develop
mutually beneficial trade relationship and welcomed the inflow of British investment in Pakistan.

On the other hand, Wayne Evans briefed about the
ethos of The City UK and talked in great detail about the
expertise which The City UK had to offer, particularly in the
Shariah compliant financial and insurance products.

He also highlighted the expertise which they have in
Public Private Partnerships and Privatization.

Secretary Commerce also gave a brief overview of the
insurance industry which was an area where lot of potential
existed for partnership and investment from the British
Financial Sector.

He assured his full support in establishing sound
commercial relations between the two countries.

In the evening, UK Pakistan Chamber of Commerce &
Industry (UKPCCI), hosted a dinner in honour of Secretary
Commerce. The dinner was also attended by Pakistan’s High

Secretary Commerce assured the UKPCCI of the full
support from the government of Pakistan in facilitating their
future programs related to enhancement of trade and investment relations between the two countries.

He also touched upon the turnaround that the Pakistan
economy had experienced under the current government and stated that it was right time to invest in Pakistan because the investment climate had improved dramatically and the country had made considerable progress on multiple fronts that have restored the investors’ confidence.

Speaking on the occasion, the High Commissioner hoped
that business community would be more proactive and take
advantage of conducive business environment that exists in

The UKPCCI thanked the Secretary Commerce and Pakistan’s High Commissioner for their continued support to the business community.