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Pakistan, UK ministers announce new steps aimed at boosting trade
Pakistan, UK ministers announce new steps aimed at boosting trade

Business Recorder

time4 days ago

  • Business
  • Business Recorder

Pakistan, UK ministers announce new steps aimed at boosting trade

ISLAMABAD: Ministers from the UK and Pakistan have announced new measures to boost trade between the two countries, following the launch of the UK-Pakistan Trade Dialogue. As part of the dialogue, ministers announced the creation of a new UK-Pakistan Business Advisory Council bringing together senior business leaders and government officials to facilitate high value trade and investment. The council will provide strategic advice on policy reform, offer a confidential forum for engagement, and help promote commercial opportunities by addressing market access challenges and sharing best practices. Monday's (14 July) meeting in London was co-chaired by the UK Minister for Trade Policy and Economic Security, Douglas Alexander, and Pakistan's Federal Minister of Commerce Jam Kamal Khan. Both ministers agreed to annual ministerial meetings to unlock growth opportunities, and support businesses and investors in the UK and Pakistan. Douglas Alexander said: 'Today's dialogue marks the next step in our long-standing relationship with Pakistan, taking our trading partnership to the next level and unlocking new opportunities for businesses in both our countries.' 'By deepening cooperation in key sectors like healthcare and digital technology – areas central to the UK's Industrial Strategy – we can drive growth, foster innovation, and create jobs.' Jam Kamal said: 'The UK remains one of Pakistan's most important economic partners. This dialogue lays the foundation for a more structured and forward-looking trade relationship. By strengthening collaboration and aligning our priorities, we can expand bilateral trade, attract greater investment, and create sustainable economic opportunities that benefit both nations.' The UK has also announced up to £200,000 to support Pakistan's aspirations to attract investment from the UK. The funds will provide technical assistance for investor outreach, and support matchmaking between Pakistani investors and UK-based opportunities. This initiative reflects the UK's commitment to supporting Pakistan's ambitions to increase outbound investment and to strengthening the bilateral investment relationship. The dialogue highlighted shared ambition to build on recent momentum, with bilateral trade increasing by 7.3 per cent during the final quarter of last year. Bilateral trade is currently valued at £4.7 billion. Today's discussion focused on key sectors including information technology and healthcare, two priority areas under the UK's Industrial Strategy. The UK's Industrial Strategy presents a significant opportunity for businesses and investors. The UK is committed to making it easier, faster, and more predictable for international firms to operate in its market. This includes reforms in skills development, innovation, regulation, and planning – creating a more dynamic and open business environment. Through the alignment of the UK's Industrial Strategy and the UK – Pakistan Trade Dialogue, we are reaffirming our commitment to open and fair trade and to deepening economic ties with key partners like Pakistan. Copyright Business Recorder, 2025

UK, Pakistan launch trade dialogue to deepen economic ties
UK, Pakistan launch trade dialogue to deepen economic ties

Express Tribune

time5 days ago

  • Business
  • Express Tribune

UK, Pakistan launch trade dialogue to deepen economic ties

Pakistan and the United Kingdom have agreed on new steps to strengthen trade and investment ties, launching the UK-Pakistan Trade Dialogue and establishing a high-level Business Advisory Council. The announcement was made after a ministerial meeting held on Monday in London, co-chaired by UK Minister for Trade Policy and Economic Security Douglas Alexander and Pakistan's Federal Commerce Minister Jam Kamal Khan. The newly formed UK-Pakistan Business Advisory Council will include senior business leaders and government officials from both countries. It will offer strategic advice on policy reforms, serve as a confidential forum for dialogue, and promote commercial opportunities by resolving market access issues and sharing best practices. The ministers also agreed to hold annual meetings to maintain momentum and support businesses and investors in both countries. UK Trade Minister Douglas Alexander said the Dialogue "marks the next step in our long-standing relationship with Pakistan" and aims to "unlock new opportunities" in sectors such as healthcare and digital technology. "These are areas central to the UK's Industrial Strategy, where we can drive growth, foster innovation, and create jobs," he said. Pakistan's Commerce Minister Jam Kamal called the UK one of Pakistan's most important economic partners. "This Dialogue lays the foundation for a more structured and forward-looking trade relationship," he noted. To support Pakistan's efforts to attract foreign investment, the UK also pledged up to £200,000 for technical assistance and matchmaking efforts between Pakistani investors and UK opportunities.

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