HomeBusinessPakistan, UK hold ministerial-level talks to boost economic ties

Pakistan, UK hold ministerial-level talks to boost economic ties

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ISLAMABAD, Dec 9 (APP): Pakistan and United Kingdom governments on Tuesday convened the ministerial-level Pakistan-UK Development Talks to advance a partnership of mutual interest.

This has been the first ministerial-level development talks since 2017. The talks were led by the Federal Minister for Economic Affairs, Ahad Khan Cheema and the UK Minister of State for International Development and Africa, Baroness Chapman of Darlington, Foreign, Commonwealth and Development Office.

Bilal Azhar Kiyani, Minister of State for Finance and Ms. Jane Marriott, British High Commissioner to Pakistan, besides senior government officers were also present in the talks.

The forum provided an opportunity to advance a partnership of mutual interest, to align UK support with Pakistan’s development priorities over the next five years.

The Minister for Economic Affairs expressed his appreciation for the UK’s longstanding support, including critical assistance during Floods 2022, and welcomed UK’s strategic shift towards a reform-focused partnership aligned with Pakistan’s priorities of economic stabilization, export-led growth, institutional reform, and climate adaptation.

On export-led growth, Government of Pakistan’s continued efforts on fiscal reforms and enhancing competitiveness were appreciated. The need for an expert level diagnostic study on export led growth was recommended by Pakistan co chair.

In the area of human capital governance, discussions addressed key challenges including population management, out of school children, stunting in children and initiatives taken by Pakistan were shared.

With regard to climate resilience, the importance of access to climate finance, as well as support for adaptation and start-ups with innovative solutions was emphasized. On security and migration, both sides expressed the desire for continued cooperation in addressing issues related to organized crimes and supporting safe, well-managed migration processes.

The talks concluded with agreement to institutionalize strategic development talks on an annual basis, and advance a partnership based on shared interests and Pakistan’s long-term development goals.

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