EU-Pakistan Business Network Launched at High-Level Business Forum in Islamabad

EU-Pakistan Business Network Launched at High-Level Business Forum in Islamabad

Islamabad (TDI): The long-awaited EU-Pakistan business network has been launched on the opening day and ceremony of the EU-Pakistan Business Forum, here at Marriott Hotel in Islamabad.

The high-level two-day business forum opened today, Tuesday, and aims to strengthen trade and investment ties between Pakistan and the European Union.

It is being hosted by the Delegation of the European Union to Pakistan in partnership with EU member states and the Pakistani government.

Besides being a platform of exchange between existing and potential EU companies active in Pakistan, the newly-launched network is designed to further strengthen EU–Pakistan business cooperation.
Through this network, businesses will jointly advocate with authorities at the highest level for an improved business and investment climate, and work to promote enhanced trade and investment between the EU and Pakistan.

Read More: Pakistan, EU Push Trade Ties Ahead of Joint Business Forum in Islamabad

The business forum has brought together policymakers, chief executive officers, investors, and representatives from international financial institutions, who will engage in business-to-government and business-to-business meetings.

The forum will explore new opportunities in key sectors such as textiles and apparel, agriculture and agri-business, pharmaceuticals and healthcare equipment, renewable energy and green logistics.

The European Union is Pakistan’s largest export destination and its second-largest trading partner after China. Bilateral trade is driven mainly by textile exports under the EU’s GSP+ scheme.

This arrangement provides reduced or zero tariffs on many Pakistani products in exchange for commitments on human rights, labor standards, and governance reforms with more than 300 European companies currently operate in Pakistan.

Prime Minister Shehbaz Sharif, in a statement shared by the EU ahead of the forum, emphasized the importance of the forum as a practical way ahead in moving from “dialogue to deal-making.”

He highlighted specific sectors for potential European investment, including agriculture and food processing, minerals, information technology, advanced manufacturing and infrastructure development.

He further noted that the blue economy, aviation and the privatization of state-owned enterprises represent additional areas of strong potential.

PM Sharif acknowledged that Pakistan links high importance to its relations with the European Union, with a combined population of nearly 700 million both sides have significant potential to increase trade and investment volumes.

The two-day forum aims facilitate matchmaking with financial institutions and explore cooperation within the framework of the EU’s Global Gateway investment initiative.

News Desk
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