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LAHORE, Jul 13 (APP):Chairman Pak-UK Joint Business Council and CEO Pakistan Furniture Council (PFC) Mian Kashif Ashfaq has said that expanding trade ties with the United Kingdom could provide Pakistan and its industries with a valuable alternative market to achieve sustainable socio-economic development, qualitative industrialization, and export growth.
He emphasized that UK-based investors of Pakistani origin could play a crucial role in this process.
Talking to a delegation of UK-based Pakistani businessmen and investors led by Pak-British Friendship Council (North West Chapter, UK) President Muhammad Arbab Khan, here on Sunday, he noted that bilateral trade during FY24 stood at $2,014,768 in exports and $781,996 in imports.
He said enhancing cooperation across diverse sectors could bring mutual benefits to both nations. He proposed a multi-faceted approach to deepen bilateral trade, including the establishment of reciprocal trade houses, Preferential Trade Agreements (PTA) or Free Trade Agreements (FTA), regular exchange of business delegations, country-specific expos and product festivals, information sharing, and the formation of a Pak-UK Industries Corridor of Knowledge.
Mian Kashif also praised the commitment of British High Commissioner to Pakistan, Jane Marriott, to strengthening strategic partnerships in vital sectors such as finance, healthcare, education, engineering, and energy. He called for a more coordinated and consultative approach involving policymakers, investors, economic strategists, and trade experts to reinforce Pakistan-UK economic ties. He also stressed the vital role of Pakistan’s trade and commercial attachés posted in the UK and European Union, urging them to actively promote Pakistani products and investment opportunities.
He concluded by encouraging Pakistani-origin politicians and decision-makers in the UK to contribute positively toward fostering stronger bilateral trade relations.