Islamabad (TDI): Jam Kamal, Pakistan’s Federal Minister for Commerce, and Mr. Oliver Christian, the UK Trade Commissioner, met to discuss ways to improve bilateral trade.
The discussion made clear how important it is to work across sectors and use a business-to-business matching strategy to identify development potential in both countries.
Jam Kamal highlighted Pakistan’s enormous potential in the food industry, especially with regard to value addition. “Pakistan may now increase its foreign exchange earnings by emphasizing value creation,” he said.
Under the leadership of Prime Minister Shehbaz Sharif, the Minister emphasized the government’s dedication to increase commerce.
The Prime Minister’s commitment to realizing an ambitious export growth strategy that aims to boost exports from US$30 billion to US$60 billion was praised by him.
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The minister also emphasized Pakistan’s accomplishment in bringing together the FoodAg Expo in Karachi, which drew over 800 international attendees.
“With such a large international presence, this was the first event of its kind, and it opened doors to significant business opportunities,” he continued.
Kamal talked about the possibilities for bilateral trade, particularly olive goods, and cited Pakistan’s expanding exports in other industries, including IT, mining, horticulture, and dairy.
“Large-scale olive cultivation is starting in Pakistan, and the country is headed toward becoming a major exporter of olive oil,” he said.
The UK Trade Commissioner expressed full support for boosting trade volume between the two countries while acknowledging Pakistan’s enormous potential.
The significance of the UK-Pakistan Bilateral Trade Dialogue, a forum that will be launched shortly to encourage trade and investment, was underscored by both parties.
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Pakistan has the potential to become a major supplier of food items to the UK, given its compliance with international standards, as the UK diversifies its import sources post-Brexit, according to the Minister.
After this talk, both sides expressed hope for the future of trade relations between the UK and Pakistan, which was a key step towards improving those ties.
