Islamabad (TDI): The United Kingdom’s Secretary of State for Foreign, Commonwealth and Development Affairs, David Lammy, wrote an article in the Pakistani English Daily, The Express Tribune, elaborating UK’s openness to business partnerships with Pakistan.
“Kickstarting economic growth is the number one mission of the UK government. We know that this is also a goal that many of our partners, including Pakistan…,” he wrote.
Informing his readers why UK is perfect for business, Lammy said: “We are a trusted partner ready to negotiate constructively. We have one of the largest economies in the world, with cutting-edge businesses, brilliant universities and a talented workforce. And we have an innovative economy embracing new trends like AI.”
He went on to write about the strong trade partnership between UK and Pakistan: “The UK and Pakistan share a longstanding and evolving trade partnership rooted in mutual opportunity and trust. With over £4.7 billion in bilateral trade, the UK is Pakistan’s largest trading partner in Europe.”
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Talking about the concrete steps being taken by the UK government to make business easier, Secretary Lammy wrote: “We are also ripping up unnecessary regulation to cut the administrative costs on business by a quarter over the next five years.”
He also acknowledged the existing Pakistani businesses in the UK: “There are already several businesses from Pakistan in the UK, including firms like Abacus. A leading tech consulting firm, Abacus exemplifies the potential of cross-border enterprise, showcasing how Pakistani innovation and British collaboration can fuel shared prosperity.”
He concluded his article by reiterating that the country is open for business and the deals UK has recently concluded worldwide are signaling just that.
Read More:Â Pakistan, UKÂ Trade Dialogue to Be Finalized Soon
Earlier this week, British High Commissioner in Pakistan, Jane Marriott, called on Federal Minister for Commerce, Jam Kamal Khan, in his office. The meeting was a forerunner to the launching of a formal Pakistan-UK Trade Dialogue.
The details related to this Dialogue, its framework and scope are expected to be signed soon. It basically aims to unlock the potential of bilateral trade through data-driven planning and sectoral reform. Both sides aligned on a vision to significantly boost bilateral trade, which is currently valued at £4.7 billion.
UK is one of the major export destinations for Pakistan. For now, these exports are mainly textile products; including house linens, knit sweaters, non-knit men suits. The Trade Dialogue seeks to bring more Pakistani products into this export-driven trade relationship.
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