LAHORE: Pakistan is a huge emerging market, British businessmen recognize its importance and ready to grow further trade and economic ties with their Pakistani counterparts to avail the available opportunities.
These views were expressed by the British Deputy High Commissioner in Karachi John Tucknott while talking to the LCCI Senior Vice President Almas Hyder and Vice President Nasir Saeed here at the Lahore Chamber of Commerce & Industry. LCCI Executive Committee Members Amjad Ali Jawa, Mian Abdul Razzaq, Dr. Qurat-ul-Ain, Mukhtar Ali, Mian Zahid Javed and former Vice President Faisal Iqbal Sheikh were also present on the occasion.
British Deputy High Commissioner said “we want to work with you. Give us ideas, give us projects, UK is ready to extend maximum cooperation.”
He said that there is a huge positive change has been witnessed in Karachi as far as law and order situation is concerned.
He said that both countries have long historical relations which should be more meaningful. He said that a number of UK companies are already working in Pakistan which is an ample proof of the fact that UK recognizes Pakistan as a potential market.
“These are the most exciting times for UK-Pakistan commercial ties to grow as synergies exist in the private sectors of the two countries”, British Deputy High Commissioner added.
With an objective to increase bilateral trade and investment, the UK Investment and Trade (UKIT) is planning to establish British Business Centers in all the major cities of Pakistan. He said that the British Business Center would provide expert trade advice and practical support to the companies who want to grow their business overseas.
“Through a range of unique services, these Business Centers would help businessmen to trade successfully in foreign markets and become familiar with overseas business practices.”
The LCCI Senior Vice President Almas Hyder said that Pakistan is much easier, convenient and safest country for doing business therefore businessmen of UK should come forward accelerate the pace of joint ventures with Pakistani businessmen. He said that Pakistan is a huge potential market and could give a huge dividend to the foreign investors.
He said that Pakistan attach a lot of value to such facts that UK comes at 4th place among the top export markets in the world for Pakistan. With regard to major importing countries to Pakistan, UK takes the 15th position.
Almas Hyder said that it is an encouraging sign that two way trade and especially our exports are increasing at a healthy rate. From 2013 to 2014, our bilateral trade has gone up from dollar 1.98 billion to dollar 2.26 billion. It was due to increase in exports to UK that amounted to dollar 223 million.
He said that since UK’s contribution is one of the highest after USA in net flow of foreign investment in Pakistan, so we wish that UK may further enhance the existing level of investments in our country. It will certainly help us in maintaining international peace, attaining economic stability and ensuring long term prosperity.
He said that considering the dire need of FDI in Pakistan, we look up towards your good offices for playing some supporting role in bringing foreign investment from UK. You are quite aware of the issues and challenges, which are as much of concern to us as they are to you and the world community.
The LCCI Vice President Nasir Saeed said that there are many areas in Pakistan which offer a lot of opportunities to UK investors. He said that it includes chains of retail stores, textiles, sources of alternate energy, oil & gas exploration, medical technologies, collaboration in R&D and skill development etc.
Nasir Saeed said that like any proactive organization, we at LCCI intend to develop close linkages with UK’s important chambers of commerce. It is needless to mention that your support can play key role in this connection
